PROJECT FINANCING
Peru-focused gold explorer and project developer Lupaka Gold has signed a $6.1-million definitive pre-paid forward gold purchase agreement with British Columbia-based limited partnership PLI Huaura Holdings, to fund the completion of development and start production at its Invicta gold project.
PLI is a private investment vehicle controlled by Pandion Mine Finance, who would, pending TSX-V-listed Lupaka achieving certain completion milestones, pay gross proceeds of the agreement in two tranches of $1.8-million and $4.3-million.
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