Lupaka Gold (TSE:LPK, FRA:LQP) has announced the start of the 2013 exploration program on their Peruvian Crucero and Invicta projects as the rain season has ended and the weather has improved considerably.
The company has mobilized geological field teams to start working again on their 2.2Moz Crucero Gold Project and 1.2M gold-equivalent ounces at their polymetallic Invicta Project in Peru.
At Invicta, the company is gearing up for a program focusing on historic workings and geological anomalies outside the current resource area.
As Lupaka had approximately C$8.7M in cash as of March 31st, they don’t have to go back to the market anytime soon. At yesterday’s closing price of C$0.27, the company is trading at an enterprise value of C$13.5M for two projects in Peru with a combined resource of 3.4M gold-equivalent ounces.
Lupaka Gold is a new sponsor of the website and we’ll send out a Q&A report shortly.
Disclosure: Lupaka Gold is a sponsor of the website. The author currently has no position in Lupaka Gold. Please see our disclaimer for current positions.