06:35 AM EST, 11/22/2024 (MT Newswires) -- Lumina Gold ( LMGDF ) overnight Thursday said the Ministry of Energy and Mines of Ecuador extended the Los Cangrejos mining concession until 2049.

The decision "creates positive conditions to continue the investment plans" for Los Cangrejos, Lumina said in a statement. The company can apply for another 25-year extension beyond 2049.

The statement said Lumina continues to execute its plans to advance the Cangrejos project to a "fully permitted, ready to construct project" and continues to advance specific components of the related Feasibility Study.

Lumina was unchanged at $0.50 yesterday.