Luminex Resources has signed a formal earn-in and joint-venture agreement with a subsidiary of the Anglo American relating to Luminex’s Pegasus A, Pegasus B, and Luz concessions in Ecuador. Anglo American has the right to earn a 60% ownership interest in a joint-venture company indirectly holding the properties if it invests an aggregate of $50 million and makes $7.3 million of cash payments over a seven-year period.
Read the Whole Article in our Digital Edition