Lundin closes $400-million financing to complete Ecuador gold project

Canada’s Lundin Gold (TSX:LUG) has closed a $400-million financing that will help it complete the construction of its flagship Fruta del Norte gold project in Ecuador, expected to begin production in late 2019. The Vancouver-based company, which last month secured a $250-million investment from Newcrest Mining, which is part of the total announced today, said the Australian miner now owned 27.1% of Lundin’s outstanding shares. Zebra Holdings and Investments S.à.r.l. and Lorito Holdings S.à.r.l. (the Lundin Family Trusts) collectively own 22.3%; and Orion holds an 11.4% stake, Lundin said. Lundin has been developing Fruta del Norte for over a year,…

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