Lupaka Gold (LPK.V) has entered into the definitive documentation phase to fund the development of the Invicta poly-metallic project in Peru. The company announced a first agreement with Pandion Mine Finance earlier this year, and both parties have been working together to come to a definitive financing solution.
Lupaka has now also updated its internal mine plan and reached the conclusion the total production rate should increase to 350 tonnes per day sooner than planned (which does make sense as we didn’t expect the company to make much money (if any) at just 100 tonnes per day). Having a very clear path to 350 tonnes per day, Lupaka could use the cash flow to build its own plant to reduce the processing costs per tonne.
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The author has a long position in Lupaka Gold. Lupaka is a sponsor of the website. Please read the disclaimer
