Why Lumina Copper (LCPRF) Stock Is Surging On Tuesday

NEW YORK (TheStreet) -- Shares of Lumina Copper Corp. (LCPRF) are jumping 23.43% to $8.92 in early afternoon trading today after First Quantum Minerals (FQVLF) agreed to purchase the Canada-based resource exploration company for $470 million.

The acquisition will be paid for in cash and stock, and the deal will give First Quantum the Taca Taca project in Argentina, Canada's Financial Post reports.

The Argentine project is one of the most promising underdeveloped copper deposits in the world, the Financial Post added.

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