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VANCOUVER, BC , Nov. 21, 2024 /PRNewswire/ - Lumina Gold Corp. LUM LMGDF (the "Company" or "Lumina") is pleased to announce that the Ministry of Energy and Mines of Ecuador has extended the Los Cangrejos mining concession until 2049. This decision by the Government of Ecuador creates positive conditions to continue the investment plans for Cangrejos. The Company can apply for another 25-year extension beyond 2049. The Company continues to execute its plans to advance the Cangrejos project to a fully permitted, ready to construct project with the following projected milestones: Signing of the binding terms (Acta de Negociación Final) for the Exploitation Contract – Q4 2024 Addendum of the existing Exploration Investment Protection Agreement to include historical investment up to 2024 – Q4 2024 Signing of the Complementary Investment Protection Agreement for the construction period – Q1 2025 Completion of the Feasibility Study – Q2 2025 Submission of the Environmental Impact Study for permitting – Q2 2025 Change of Mining Title phase to exploitation – H1 2025 Signing of the Exploitation Contract – H2 2025 Public Environmental Consultation – Specific timing to be determined Lumina continues to advance specific components of the Feasibility Study, including: Completion of a metallurgical test work program at C. H. Plenge & CIA S.A., an independent metallurgical laboratory based in Lima, Peru . Completion of a geotechnical field program for facility siting was completed to finalize designs, including a total of 20 boreholes, 53 test pits, and over 9,500 metres of geophysics lines. Completion of a Regional Hydrogeology Program, which included the drilling and pump-testing of 12 new wells to support the Feasibility Study and Environmental Impact Study baseline. Advancement of an updated resource estimate and mine plan design is near completion by Sim Geological and IMC Tucson. Advancement of final site plans, plant design and receipt of vendor quotes for all major equipment required to generate capital and operating cost estimates for the Feasibility Study are being undertaken by Ausenco Engineering Canada ULC. Qualified Persons Ron Halas , P.Eng., Chief Operating Officer of Lumina and a Qualified Person as defined by NI 43-101 has reviewed, verified, and approved the contents of this news release. About Lumina Gold Lumina Gold Corp. LUM is a Vancouver, Canada based precious and base metals development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador . In 2023, the Company completed a Pre-Feasibility Study for Cangrejos, which is the largest primary gold deposit in Ecuador . Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects. Follow us on: Twitter , Linkedin or Facebook . Further details are available on the Company's website at https://luminagold.com/ . To receive future news releases please sign up at https://luminagold.com/contact . LUMINA GOLD CORP. Signed: "Marshall Koval" Marshall Koval , President & CEO, Director Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the timing and completion of the items listed as projected milestones. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive. Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. View original content to download multimedia: https://www.prnewswire.com/news-releases/lumina-gold-announces-concession-extension-until-2049-302313698.html SOURCE Lumina Gold Corp. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.CDS: National Security Embodies Social, Economic, Environmental ElementsNone
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Gen. Jennie Carignan responded to comments made by Idaho Republican Sen. Jim Risch , the ranking member of the U.S. Senate Foreign Relations Committee, who was asked on Friday whether President-elect Donald Trump’s nominee for defense secretary, Pete Hegseth , should retract comments that he believes men and women should not serve together in combat units . “I think it’s delusional for anybody to not agree that women in combat creates certain unique situations that have to be dealt with. I think the jury’s still out on how to do that," Risch said during a panel session at the Halifax International Security Forum on Friday. Carignan, Canada's chief of defense staff and the first woman to command the armed forces of any Group of 20 or Group of Seven country, took issue with those remarks during a panel session on Saturday. "If you’ll allow me, I would first like maybe to respond to Senator Risch’s statement yesterday about women in combat because I wouldn’t want anyone to leave this forum with this idea that women are a distraction to defense and national security," Carignan said. “After 39 years of career as a combat arms officer and risking my life in many operations across the world, I can’t believe that in 2024, we still have to justify the contribution of women to their defense and to their service, in their country. I wouldn’t want anyone to leave this forum with this idea that this is that it is some kind of social experiment.” Carignan said women have participating in combat for hundreds of years but have never been recognized for fighting for their country. She noted the women military personnel in the room. “All the women sitting here in uniform, stepping in, and deciding to get into harm’s way and fight for their country, need to be recognized for doing so," she said. “So again, this is the distraction, not the women themselves." Carignan received a standing ovation at the forum, which attracts defense and security officials from Western democracies. Hegseth has reignited a debate that many thought had been long settled: Should women be allowed to serve their country by fighting on the front lines? The former Fox News commentator made it clear, in his own book and in interviews, that he believes men and women should not serve together in combat units . If Hegseth is confirmed by the Senate, he could try to end the Pentagon’s nearly decade-old practice of making all combat jobs open to women. Hegseth’s remarks have generated a barrage of praise and condemnation. Carignan was promoted to the rank of general during the change-of-command ceremony this past summer, after being chosen by Prime Minister Justin Trudeau’s government to become Canada’s first female defense chief. Carignan is no stranger to firsts. She was also the first woman to command a combat unit in the Canadian military, and her career has included deployments to Iraq, Afghanistan, Bosnia and Syria. For the last three years, she has been the chief of professional conduct and culture, a job created as a result of the sexual misconduct scandal in 2021. Her appointment this year comes as Canada continues to face criticism from NATO allies for not spending 2% of its gross domestic product on defense. The Canadian government recently said that it would reach its NATO commitment by 2032. Risch said Friday Trump would laugh at Canada’s current military spending plans and said the country must do more.
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