Lumina’s Buyout Could be Positive for Western Copper and Gold

An article from Seeking Alpha saw positive signs for Western Copper and Gold’s (TSX:WRN) Casino project on the back of First Quantum Minerals’s recent acquisition of Lumina Copper. According to the article, the author expected that a partnership deal along those same lines could help Western Copper to develop the project. The author noted that Casino is unique as it is “rare to encounter gigantic copper-gold projects in safe regions such as Canada,” and stated that although the project has a significant initial capex, Casino is “expected to produce copper at a negative cash cost.”

As quoted in the publication:

The Taca Taca project has an estimated cost of $3B, and this definitely isn’t cheap for a project in Argentina which has some perceived geopolitical risks. So it’s definitely interesting to see First Quantum is willing to take on a $3B capex project in Argentina, as this is a very encouraging sign for Western Copper, whose Casino project has approximately the same price tag.

Click here to read the full Seeking Alpha article.
Click here to read the Western Copper and Gold (TSX:WRN) profile.