Luminex Resources Corp. (the Company' or Luminex') announced the receiving notice from Anglo American that it is exercising the first of its options under the earn-in agreement entered into on September 21, 2018 (Earn-In Agreement') to earn the right to retain 51% of the joint venture company holding Pegasus A & B. As of December 31, 2021, Anglo American had invested USD 13.9 million in exploration expenditures and USD 2.4 million in cash payments, for a total of USD 16.3 million. Under the Earn-In Agreement the next ownership retention threshold is 51%, which occurs when Anglo American has completed an additional aggregate investment of USD 25 million towards exploration expenditure by the sixth anniversary of the Earn-In Agreement and USD 4.8 million of cumulative cash payments to Luminex, payable in two instalments on the fourth and fifth anniversary of the Earn-in Agreement.
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
2,275 GBX | -1.49% |
|
-5.50% | +15.45% |
07-16 | Miners, utilities and Burberry hurt FTSE 100 | AN |
07-15 | Battery Mineral Resources Corp. Announces First Shipments of Copper Concentrates to Anglo-American plc for Smelting | CI |
![Consensus](/images/consensus_flch.gif)
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
+15.45% | 36.29B | |
-15.41% | 147B | |
-13.20% | 111B | |
-2.88% | 72.2B | |
+12.04% | 46.83B | |
-7.52% | 44.12B | |
+106.60% | 33.46B | |
+18.32% | 25.79B | |
+73.97% | 20.22B | |
+49.42% | 19.25B |
- Stock Market
- Equities
- AAL Stock
- News Anglo American plc
- Anglo American Exercises its Option to Earn-In to 51% Ownership in Pegasus A & B