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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).

Newcrest invests in Lundin Gold Newcrest invests in Lundin Gold Newcrest invests in Lundin Gold Newcrest invests in Lundin Gold Newcrest invests in Lundin Gold

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.

Orion Mine Finance Group will invest $100 million and the Lundin...