An Overview of Luna Gold
Luna Gold (OTCQX:LGCUF) owns and operates the Aurizona Gold Mine in Brazil. It currently produces around 90,000 ounces of gold per year, and this figure is expected to rise to 135,000 oz. next years. Given the mine's massive resource base of nearly 5 million ounces the company should be able to produce at this level for an extended period of time, and it even has plans to expand production even more (in its phase two expansion).
However there is a caveat. In the depths of the financial crisis Luna Gold sold a large gold stream to Sandstorm Gold (NYSEMKT:SAND) that affords the latter company the right to purchase 17% of...
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