LUNMF - Lundin Mining: Upcoming Copper Giant Buy For The Long Term

2024-06-19 12:53:09 ET

Summary

• Lundin Mining had a strong first quarter, with solid production, falling costs, and development at Josemaria proceeding according to schedule.
• Josemaria is part of the Vicuña district, the next giant copper-gold district, made up of 5 copper megaprojects.
• The company already controls Caserones, where it can increase its interest to 70% starting in July.
• It may end up acquiring the remaining 3 deposits from Filo and NGEx, which are also part of the Lundin Group of companies.
• Success at NGEx's Lunahuasi bodes very well for exploration at Josemaria.

Introduction

I covered Lundin Mining ( LUNMF , LUN:CA ) in a number of articles, most recently here . Since my initial recommendation in August 2022, the stock is up more than 100%, and 33% year-to-date. The year-to-date copper rally has been the primary driver of the company's solid performance. However, copper prices have been sliding from their peak over the last three weeks. This has pushed Lundin Mining close to my accumulation zone again....

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