Newcrest invests in Lundin Gold

Newcrest Mining (AU:NCM) has stepped up its game in Ecuador by agreeing to invest US$250 million in developer Lundin Gold (CN:LUG).

The Newcrest investment will be used to fund the Fruta del Norte development

The investment, made at C$5.50 (US$4.35) per share, a 13% premium, is part of a broader US$400 million private placement.

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