RCKS Talk

05-Jul-2018

Lupaka Gold Corp.

Lupaka Continues to Demonstrate Grade Continuity

Impact: Mildly Positive

Lupaka Gold has released results from channel sampling within the vertical relief raise development between the 3400 Level and 3430 sublevel at its 100% owned Invicta Gold Development Project, located in Peru.
  • Assays from the channel sample, which was conducted vertically across the strike of the Atenea vein, returned an average of 23.45g/t AuEq over a vertical height of ~30m
  • The results, when combined with the previous horizontal channel sampling from the 3430 sublevel, continue to support the continuity and high-grade nature of the Atenea vein in addition to providing further evidence that grade reconciliation has the potential to be positive as the company ramps up production
  • With the relief raise development now completed, one less step sits in the way of production, which the company indicated is still on track to commence in Q3 of this year
Based on the company’s recently released PEA, our valuation of Lupaka suggests a NAVPS10% of C$0.55 assuming a 350tpd operation. Based on our site visit and the company’s continued exploration success, we see potential for a 500tpd operation at Invicta. We believe that first production, expected in Q3 2018 is going to be the next key re-rating catalyst for Lupaka.

07-Jun-2018

Lupaka Gold Corp.

High-Grade Gold Confirmed on the Next Sublevel at Invicta

Impact: Positive

Lupaka Gold announced assay results from a sampling program on the newly constructed 3430 production sublevel, 30m up-dip from the existing 3400 Level at the company’s Invicta Gold Project in Peru.

  • Average assay values from the Atenea vein returned 9.22g/t AuEq over 130m with an average sample width of 4.2m, which demonstrates continuity of the Atenea mineralization both up-dip from the 3400 Level and along strike
  • Sampling results provide further evidence that the current block model may understate grade, suggesting there may be some upside to our estimates and the company's PEA
  • With these results the company remains on track for production, which is to commence in Q3 of this year
Based on the company’s recently released PEA, our valuation of Lupaka suggests a NAVPS10% of C$0.55 assuming a 350tpd operation. Based on our site visit and the company’s continued exploration success, we see potential for a 500tpd operation at Invicta. We believe that first production, expected in Q3 2018 is going to be the next key re-rating catalyst for Lupaka.

17-Apr-2018

Lupaka Gold Corp.

Construction Advancing; Production Still Expected in Q3

Impact: Mildly Positive

Lupaka provided an update regarding development activities at its Invicta Gold Project.

  • Remains on track to achieve commercial production in Q3 2018
  • Construction and rehabilitation activities are advancing, 8,000 tonnes of material to be processed and tested in May
  • Josnitoro JV has been terminated: however, we had not included it in our valuation, therefore has no effect
Based on the company’s recently released PEA, our valuation of Lupaka suggests a NAVPS10% of C$0.55 assuming a 350tpd operation. We believe that first production, expected in H2 2018 is going to be the next key re-rating catalyst for Lupaka. 


01-Jan-2018

Lupaka Gold Corp. (TSXV:LPK)

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