NGEx Minerals Advances Lunahuasi with High-Grade Drill Results and $175M Financing
Event summary
- NGEx Minerals completed an $175 million private placement in October 2025, upsized from $100 million due to strong investor demand.
- Phase 4 drilling at Lunahuasi project reached 88% completion of 25,000 meters, with high-grade copper, gold, and silver intercepts confirmed.
- Environmental approval received for an exploration adit at Lunahuasi, enabling underground development and year-round operations.
- Spin-out of LunR Royalties Corp. to shareholders, with NGEx retaining a 19.9% ownership stake.
The big picture
NGEx Minerals' strategic focus on high-grade copper-gold-silver systems positions it within the rapidly evolving Vicuña district, home to major deposits like Josemaria and Filo del Sol. The company's ability to secure substantial financing and advance its flagship project underscores investor confidence in the region's mineral potential. The spin-out of LunR Royalties provides shareholders with exposure to a diversified revenue stream while maintaining NGEx's operational control over its core assets.
What we're watching
- Resource Potential
- Whether the high-grade intercepts at Lunahuasi can be converted into a significant mineral resource estimate.
- Financial Flexibility
- How NGEx will deploy its strengthened treasury for future exploration and development.
- Regulatory Approvals
- The pace at which additional permits for the exploration adit will be secured.
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