Lumina Gold Corp Draws US$10.2 Million from Wheaton Precious Metals and Amends PMPA

Lumina Gold Corp. LUM on the TSXV and LMGDF on the OTCQB), an emerging leader in gold exploration and development, has recently utilized the financial provisions under its existing agreement with Wheaton Precious Metals. The Vancouver-based mining company has drawn US$10.2 million from Wheaton Precious Metals International Ltd., a subsidiary of Wheaton Precious Metals Corp. WPM, demonstrating progress and development in its precious metal projects.

Lumina Gold's Relationship with Wheaton Precious Metals

Lumina Gold has been in a strategic partnership with WPM, under a US$300 million precious metals purchase agreement (PMPA). The recent draw of funds highlights Lumina's ability to access needed capital to advance its gold mining endeavors. The draw further solidifies Wheaton Precious Metals International Ltd.'s commitment to support Lumina Gold as it progresses towards its operational targets.

Amendments to the Precious Metals Purchase Agreement

Beyond the financial draw, Lumina Gold and Wheaton Precious Metals International Ltd. have agreed upon certain amendments to the original PMPA. These revisions are expected to enhance the flexibility and efficiency of the funding structure for both parties. Although specifics of the amendment were not disclosed, such adjustments typically aim for improved terms that benefit the ongoing relationship and future transactions between the involved companies.

The Impact of This Financial Movement

This strategic financial move by Lumina Gold is significant in the broader context of precious metal exploration and production. Providing a company with immediate capital, arrangements like the PMPA with Wheaton Precious Metals encourage continuous development and expansion projects. It is indicative of the confidence that big players like WPM have in the potential of Lumina Gold's resources and operations.

Lumina, Wheaton, Gold