In Old West Investment Management's 1st-Quarter Investor Letter 2024 Q1, Lundin Mining (LUNMF, Financial) was highlighted for its strategic efforts to consolidate and develop assets in the Vicuña district of South America. The company is positioning itself to control the development of the entire district, leveraging its recent acquisition of a majority stake in the Caserones mine in Chile. This strategic move aligns with Lundin Mining's broader goal of creating synergies with nearby Lundin Group assets and potential partners like BHP, which has already acquired a 6% stake.
"As the largest entity of the group, Lundin Mining appears to be putting the pieces together to control the development of the entire district. Last year they acquired a majority stake in the Caserones mine in Chile, 17 kilometers north of NGEx’s Los Helados deposit. The mine sits strategically between that deposit and Lundin Mining’s other Chilean assets, namely the Candelaria mine in the central part of the country and a port and desalination facility on the coast." — Old West Investment Management, Q1 2024 Fund Letter
Read full letter at gurufocus Old West Investment Management's 1st-Quarter Investor Letter 2024 Q1 page.
