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Lundin Mining Corp
Symbol LUN
Shares Issued 585,949,507
Close 2014-10-22 C$ 5.03
Market Cap C$ 2,947,326,020
Recent Sedar Documents

FP says Lundin should be able to tackle Fruta del Norte

2014-10-23 09:44 ET - In the News

Also In the News (C-FST) Fortress Minerals Corp (2)

The Financial Post reports in its Thursday, Oct. 23, edition that Lukas Lundin should be able to tackle the Fruta del Norte (FDN) project. The Post's Peter Koven writes that the Lundin Group has taken hold of many world-class projects at low cost and made a fortune for its shareholders. Mr. Koven says FDN fits the bill for Mr. Lundin perfectly. FDN is arguably the world's best undeveloped gold deposit, with 6.8 million ounces of very high-grade reserves. It is also in Ecuador, a country that has been inhospitable for mining investment and has scared away the rest of the gold sector. As a result, the asset was available at a bargain-basement price. "One of those things the Lundin family has done so well over so many years is [obtaining] great assets," says Ron Hochstein, chairman of Lundin shell company Fortress Minerals. "And also having the ability to work with governments and with the population to see them through." Fortress will be renamed Lundin Gold. Fortress plans to use FDN as the foundation to build a significant gold producer. To do so, it will have to manage Ecuadorian politics a lot better than Kinross did. Mr. Hochstein is confident this project will move forward quickly.

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