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Lupaka Gold lands first $49M from Peru to settle mining dispute
['Cecilia Jamasmie']
MINING.COM
Lupaka Gold Corp. (TSX-V: LPK) took a major step toward ending its long-running dispute with Peru this week after receiving about $49.4 million under a negotiated settlement of its international arbitration award.
“We will get the contingent value rights (CVR Holder) payments out as soon as possible now and again upon our receipt of the second Peru payment.
The company then expects to make its first eligible CVR distribution within 30 days.
The second CVR distribution will follow receipt of the final payment from Peru.
Because most of the deductions will have been covered in the first distribution, the company expects the second payment to be larger.