Canadian junior Luminex Resources has brought in another major miner to earn into its projects in Ecuador, announcing a letter of intent to enter into a farm-in and joint venture (JV) agreement with BHP over the Tarqui 1 and 2 mining concessions.
BHP will have the right to earn up to a 70% ownership interest in the property by investing an aggregate amount up to $75-million and making up to $7-million of cash payments to Luminex.