Ecuador-focused Adventus and Luminex to merge – by Cecilia Jamasmie ( – November 22, 2023)

Canadian juniors Adventus Mining (TSX-V: ADZN) (OTCQX: ADVZF) and Luminex Resources (TSX-V: LR) (OTCQX: LUMIF) are merging to create an Ecuador-focused copper-gold development company.

The transaction will see Adventus acquire Luminex, with Luminex shareholders receiving 0.67 of an Adventus share for each held. The combined company will continue to trade under Adventus’ name and ticker. The new firm will lead the advancement towards production of two main projects and consolidate a large exploration portfolio in the South American country.

One of these projects is the El Domo-Curipamba copper-gold deposit, which is at feasibility stage. The other one is the preliminary economic assessment (PEA) stage Condor gold project. The El Domo – Curipamba project has been touted by Adventus as the next modern mine in Ecuador, leveraging one of highest copper-gold grades and lowest capital intensities globally.

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