Q: I am trying to understand what kind of arrangements this company has with Lundin Mining Corp. Is it wholly or partly owned by Lundin. The stock seems to have done well lately but is a person better off holding Lundin stock and get the dividend. Many tnx.
5i Research Answer:
The estate and trusts of the late A. Lundin owns 37% of NGEX. This is both good and bad. The reputation is solid, but these shares might of course one day hit the market for sale (would likely be in a bought deal to avoid price disruption were it to occur at all). It has $74M cash but is hard to compare with LUN due to its much smaller size and lack of revenue (LUN has $4B in revenue). We think NGEX is a decent exploration company, with potential. But we would like LUN better overall.