Following the bouncing ball 🎾

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This is Mark, a writer over at the IKN Blog and The IKN Weekly. He writes about the metals and mining industry and is also very active on Twitter/X.

If you haven't heard of him, it's worth giving him a follow; he brings some rather interesting things to light once in a while.

Mark is akin to the Joker in the mining space, thriving in chaos and anarchy with a dark sense of humour. His motive seems unclear, except for bringing to light the many shenanigans in the industry. Challenging accepted norms, Mark calls out management for unfavourable financing deals and questionable practices.

Similar to the Joker's chaotic opposition to Batman's quest for justice, Mark opposes management teams that fail to deliver competence or real value to shareholders. He is a polarizing figure, and being criticized by him is something no CEO wants. Yet, Mark is in our good books; we appreciate independent individuals with strong opinions in this space.

Mark's expertise extends to Latin America, where he is much more familiar with the nuances than most men and women in suits in Toronto and Vancouver. This post, for example, inspired us to write this article.

Okay, we added that last bounce.

However, last week's announcement of the merger between Adventus Mining and Luminex Resources was another positive move in the right direction. Now, you have the marketable backing and support not only of Altius Minerals but also of Mr. Ross Beaty.

Ross Beaty, with a 20.8% ownership stake, spun out Luminex Resources from Lumina Gold Corp on September 5, 2018. The Lumina Group boasts an impressive track record.

The merger announcement was made last Tuesday and appears to have favoured $LR.V shareholders with an immediate ~35% gain. $ADZN.V shareholders, in contrast, experienced a more modest ~5% bump. It's worth noting that Adventus had already seen a run-up of ~50% the month prior to the merger announcement.

That run-up could be one of two reasons (or a combination of the two) because there was no news except on November 17th about the Constitutional Court of Ecuador leaving the decree and Consultation process in effect while waiting for the National Assembly to pass a new law regulating the Consultation process.

1. The speculation and connection of dots implying that Adventus Mining could benefit from the conflict of interest involving the Ecuadorian President.

2. The news of this merger was taking place.

Another catalyst that some are connecting the dots on is the potential spinout of Pegasus.

Anglo American submitted a withdrawal notice, which was announced on August 23 by $LR.V. They experienced delays with receiving surface access to drill the preferred targets so decided to not increase ownership from 25% to 51%.

Turns out, something is brewing there, because as of September 20, the parties agreed to suspend the effect of the withdrawal for 45 days.

But that’s enough spotlight on this recent news. For further insights into Adventus Mining, it's recommended that you conduct your own due diligence. We want to clarify that we were not compensated in any way for this write-up, and we do not hold a position in them.

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