$LUNR.V

Lundin Gold Distributes 50.5-Million LunR Royalties Shares Through Dividend

Lundin Gold (LUG.TO) after trade Thursday said it completed the distribution of 50.5 million shares of LunR Royalties (LUNR.V) to its shareholders through a dividend in kind.The distribution was made on Thursday to shareholders of record as of June 4. The shares were acquired by Lundin Gold on May 28 as part of a silver stream agreement with LunR Royalties. Under a separate agreement signed in April, Lundin Gold committed to distributing these shares directly to its shareholders, the company said.Before the distribution, Lundin Gold owned about 41.8% of LunR's outstanding shares. Through the transaction, the company distributed its entire LunR stake to shareholders and no longer holds any shares in LunR, according to the statement."As a result, Lundin Gold is no longer subject to early warning reporting requirements in respect of LunR. Lundin Gold has no current intention to acquire additional securities of LunR," the company added.

LunR Royalties to Commence Trading on the TSX on June 8, 2026

LunR Royalties Completes Acquisition of Fruta del Norte Silver Stream, Gets Conditional Approval to Graduate to TSX

LunR Royalties (LUNR.V) has completed the acquisition of a life-of-mine silver stream on the Fruta del Norte mine in exchange for 50.5 million of its common shares issued to Lundin Gold, LunR said late on Thursday.The company has also received conditional approval to list its common shares on the Toronto Stock Exchange and graduate from the TSX Venture Exchange. Final approval of the listing is subject to certain customary requirements of the TSX.Under the agreement, LunR will purchase 100% of the payable silver production from Fruta del Norte until 12.2 million ounces have been delivered; then 50% of payable silver production until an additional 7.8 million ounces have been delivered; then 7.55 of payable silver production for the remaining life of mine.LunR will purchase silver at 10% of the spot price at the time of each delivery for ounces delivered up to the first dropdown threshold. Payments will increase to 20% of the spot price for ounces delivered up to the second dropdown threshold, and thereafter will increase to 30% of the spot price for the remaining life of mine.The stream is effective as of March 1. The first delivery of streamed silver is expected by the end of the second quarter.Lundin Gold has declared a special dividend-in-kind to distribute all of the consideration shares to eligible Lundin Gold shareholders. The consideration shares that would otherwise be distributed to ineligible shareholders will be sold. The shareholders will receive a cash payment equal to the net proceeds of the sale, less applicable taxes.The dividend will be payable on June 11 to Lundin Gold shareholders of record at the close of business on June 4. The cash payment to ineligible shareholders will be payable as soon as reasonably practicable following the sale of consideration shares.

LunR Royalties Announcing AGSM Voting Results Including Shareholder Approval of Fruta del Norte Transaction

NGEx Reports Wider Q1 Loss; But Phase 4 Lunahuasi Drill Program Continues to Highlight Size, Grade and Upside

NGEx Minerals (NGEX.TO) on Monday reported a widened loss for the first quarter, but said its Phase 4 Lunahuasi drill program achieved campaign objective while it has made board and management changes.For Q1, NGEX reported basic and diluted loss per share C$0.20 versus $0.17 a year earlier.On liquidity and capital resources, as at March 31, 2026, the company had net working capital of $632.2 million, including $106.3 million in cash, an investment in LunR in the form of common shares having a value of $406.6 million, and short-term investments of $142.1 million, compared to net working capital of $436.5 million as at December 31, 2025, which included cash of $192.5 million, an investment in LunR with a value of $174.5 million, and short-term investments of $80.7 million. It said the strong net working capital position provides the company significant flexibility, as it looks ahead to a Phase 5 drill program, the potential development of an exploration adit, and beyond.In an operations update, the company said its Phase 4 drill program at Lunahuasi is now complete, with a total of 27,318 metres drilled in 32 holes. Phase 4 assay results received to date have continued to demonstrate the deposit's scale and high grades, particularly in the Mars and Saturn zones, it added. Final Phase 4 assays, representing approximately 50% of the drilling completed, are expected to be released as received until the third quarter of 2026, it added.Phase 4 drilling has also confirmed and begun to define two new high-grade zones, which reaffirm a key feature of the Lunahuasi system: the occurrence of multiple mineralized zones and multiple overlapping styles of mineralization, the company said.Environmental approval has been received for a proposed exploration adit at Lunahuasi, it noted.The company also announced that Alex Tong has been appointed by the board as Chief Financial Officer to be effective as of June 10, 2026. Tong succeeds Jeff Yip, who has notified the company of his resignation as CFO to take effect on that date.Wojtek Wodzicki, President and CEO, said, "We have now completed our Phase 4 drill program at Lunahuasi, the project's largest campaign to date. The earlier part of the campaign successfully completed short-range definition drilling that expanded and better defined the Saturn, Mars and Jupiter zones, which consist of the high-sulphidation vein mineralization that formed the original discovery. Phase 4 drilling has increased our understanding of each of these individually unique and sizeable high-grade zones, with Saturn and Mars in particular continuing to expand and deliver high-grade intercepts throughout and showing potential for at least three very high-grade cores within broader envelopes of good grade material."The latter portion of the drill program focused on mid-range step-outs to test the potential for discovery of new high-grade zones, and long-range exploration holes to test district scale anomalies. These holes tested the broader potential of Lunahuasi, which is part of a much larger system that may still host new high-grade zones as well as new styles of mineralization in addition to the four already identified. Results to date have confirmed the existence of two new high-grade zones, which share common characteristics with our previously identified zones and will be exciting targets for our next drill program."Final assays will steadily come in over the next few weeks, and our attention will turn to a full analysis of the Phase 4 results, which will guide planning for Phase 5, scheduled to begin in the fourth quarter of 2026. With a robust balance sheet and no shortage of drill targets, we are looking forward to getting started on the exploration adit and having rigs turning again at Lunahuasi after a short austral winter break."Shares in NGEX rose $0.88 or 3.4% to $26.61 on Friday.