Lundin Gold Executes Definitive Silver Stream Agreement with LunR Royalties
Lundin-backed explorer unlocks massive high-grade copper-gold system while spinning out royalty value to shareholders.
The most recent news (April 2-3, 2026) confirms the execution of a definitive silver stream agreement between Lundin Gold and LunR Royalties (an NGEx spin-out). Under the agreement, LunR will acquire a life-of-mine silver stream from the Fruta del Norte mine in exchange for 50.5 million shares. These shares will be distributed to Lundin Gold shareholders as a dividend-in-kind. This follows a series of high-grade drill results from NGEx’s flagship Lunahuasi project, including a massive intercept of 335.15m at 4.08% CuEq (March 23, 2026), and the entry of Lundin Mining as a partner at the Los Helados project (March 11, 2026).
The recent news is Routine - Positive. While the silver stream is a significant transaction for the spin-out entity (LunR), for NGEx Minerals, it represents the successful execution of a strategy to surface value from its royalty portfolio. - Validation of Strategy: The definitive agreement confirms that the LunR spin-out is becoming a functional, deal-making entity, which validates NGEx's decision to distribute these assets to shareholders. - Exploration Momentum: The more material drivers for NGEx remain the Phase 4 drill results at Lunahuasi. The increase of the program to 30,000m suggests management is seeing consistent high-grade continuity. - Strategic Partnership: Lundin Mining’s entry into Los Helados (acquiring a 30.9% interest) is a major de-risking event, providing a clear path toward utilizing existing infrastructure (Caserones mill) for future development.
NGEx Minerals is a Lundin Group company focused on copper-gold deposits in the Vicuña District (Argentina/Chile). - Flagship Project: Lunahuasi (100% owned, Argentina). It is a high-grade copper-gold-silver discovery. Recent drilling has identified a massive porphyry system underlying high-grade veins. - Secondary Asset: Los Helados (69% owned, Chile). One of the world's largest undeveloped copper-gold resources. Now partnered with Lundin Mining (31%).