One of the most legendary entrepreneurs in mining has a new company preparing to go public. And they’re aiming to build a new copper mine in Poland.

What’s happening:

  • Lumina Metals has publicly stated they are increasing the size of their IPO financing round to $312M CAD

By the numbers:‍

  • The IPO financing round for Lumina Metals values the company at roughly $1.3B CAD

Why it matters:‍

  • Legendary Canadian geologist and mining entrepreneur Ross Beaty is one of the founders of Lumina Metals and is the single largest individual shareholder of the company

Going deeper:‍

  • Lumina Metals’ flagship asset is the Nowa Sol underground copper and silver deposit located in western Poland which contains approximately 11M tonnes of copper and roughly 1B ounces of silver
  • Lumina Metals also has publicly stated they plan to pursue a listing on the Warsaw Stock Exchange following the successful completion of their IPO financing round

The intrigue:‍

  • The Nowa Sol project in Poland is widely considered to represent roughly 20% of all the total copper and silver that has been documented in Poland

The fine print:‍

  • It has not yet been publicly disclosed when Lumina Metals will begin trading on the Toronto Stock Exchange

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