Significant Power Approvals Boost Lumina Gold's Cangrejos Project

Lumina Gold Secures Key Power Approvals for Project Development

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) is excited to share that it has made substantial progress in developing the required power infrastructure for its pivotal Cangrejos gold-copper project. The company has recently received approvals regarding the definitive feasibility-level designs from Corporación Eléctrica del Ecuador, commonly known as CELEC. These vital approvals aim to connect the project to the national grid, thereby addressing its future energy demands.

Details of the Power Connection Project

The approved designs incorporate two dedicated transformers located at the La Avanzada substation, specifically engineered for the Cangrejos Project. Additionally, a 138 kV single circuit transmission line is slated to stretch approximately 20 kilometers from the substation directly to the project site. This development highlights CELEC's commitment to reserving necessary areas for building this vital transmission infrastructure.

Progress on Feasibility Study

Ausenco Engineering Canada ULC, the lead engineering contractor for the Cangrejos Project's feasibility study, has completed an impressive 92% of the estimated developmental tasks. This feasibility study is on track for completion in the second quarter of 2025. Key achievements thus far include an updated mineral resource estimate, a comprehensive mine plan and schedule, as well as crucial designations for project infrastructure.

Components of the Feasibility Study

So far, the feasibility study has successfully finalized several components including:

1. An updated mineral resource estimate, mine plan, and schedule.
2. A detailed process flowsheet based on metallurgical test results.
3. Careful engineering and design of project infrastructure.
4. A studies assessing the marketing landscape for metals.
5. Receipt of various vendor quotes.
6. The identification of major equipment necessary for the project.

With these significant milestones achieved, the project team is now dedicated to refining both capital and operational cost estimates to back the study's economic modeling phase.

Environmental Impact Study Progress

The ongoing work for the Environmental Impact Study (EIS) remains on schedule, with plans to submit the completed EIS to relevant authorities by mid-2025. Lumina Gold is aiming to acquire its Environmental License necessary for construction and operation by the early part of 2026.

About Lumina Gold

Lumina Gold Corp. is based in Vancouver and is at the forefront of developing precious and base metals projects, primarily focusing on the Cangrejos gold-copper project located in El Oro Province of Ecuador. Their recent Pre-Feasibility Study revealed that the Cangrejos Project holds the status of being the largest primary gold deposit within the country. The company boasts a seasoned management team with a proven track record in advancing exploration projects toward successful monetization.

How to Stay Updated with Lumina Gold

Staying informed about the latest developments at Lumina is easy. Follow the company on their social media channels including Twitter, LinkedIn, and Facebook. Further details about the Company and its operations can also be accessed on their official website.

Frequently Asked Questions

What are the recent advancements made by Lumina Gold?

Lumina Gold has received crucial power approvals for the Cangrejos Project, vitalizing its development plans.

How does the power connection impact the Cangrejos Project?

The power connections enhance the Project's infrastructure and ensure it meets future energy demands efficiently.

What progress has been made on the feasibility study?

About 92% of the feasibility study is complete, indicating significant strides toward project viability and planning.

When is the Environmental Impact Study scheduled for submission?

The EIS is on track for submission in mid-2025, with targets set for early 2026 to obtain the Environmental License.

What is the focus of Lumina Gold?

Lumina Gold focuses on developing its gold-copper projects, particularly the Cangrejos Project, which is the largest primary gold deposit in Ecuador.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

Contact Dylan Bailey privately here. Or send an email with ATTN: Dylan Bailey as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.