The NI 43-101 Technical Report – January 2013 (now published on Sedar) proves that Lumina again acquired additional mineral concessions (“through a combination of purchases from third party owners, lotteries, and staking”).

NI 43-101 Technical Report

Properties – Total – in Ha

December 2011

June 2012

January 2013

Granted

2,546.00

21,156.30

45,740.63

Pending applications

 

32,492.83

18,112.60

Grand Total

2,546.00

53,649.13

  63,853.23

Note: “All exploration concessions (cateos) will have to be converted to mine properties (minas) in 2013 and 2014”

As compared to mineral concessions held in December 2011 (only the Taca Taca copper/gold/molybdenum Deposit – 2,559.96 Ha), the current total of mineral concessions (63,853.23 Ha) corresponds to a substantial increase.

I am not aware about any official communication from LCC Management concerning the purpose of those additional mineral concessions.

IMHO the following comments and assumptions are to be considered:

  • LCC Management seems to be strongly convinced about the potential of this area (this confirms Midas former statements about CCD neighbouring claims);
  • It should not be excluded that the LCC Management “Strategic Review” would be to sell (an extended?) Taca Taca Deposit (but not the company), to distribute (part of) the revenues generated by this sale to the shareholders and to start drilling campaigns on the other claims;
  • I note (but do not conclude) that LCC claims are now nearing the Chilean border (LCC – NI 43-101 Technical Report – January 2013 – Figure 4-2 : Claim Map)
  • It also appears that LCC is “taking over” the concessions not yet acquired (or left over) by SESA / CCD. Will this lead to reinforced links between LCC and CCD in the future?

Any comments ?