Shares of Lupaka Gold (TSXV: LPK, FRA: LQP) skyrocketed to a three-year high on Wednesday after the Canadian miner won $65 million in its international arbitration case against Peru, five years after launching the case.
In a press release, the company confirmed it has the final award from the International Centre for Settlement of Investment Disputes (ICSID) in the arbitration it initiated against the Peruvian government in 2020.
Shares of Lukapa Gold gained as much as three-fold from C$0.08 to C$0.24 on the news, for its highest since June 2022. As of 1:40 p.m. ET, the stock traded at C$0.14 for an intraday gain of 167% and a market capitalization of C$4.1 million.
Blocked gold project
The dispute stems from a protest by the community of Parán in October 2018 that blockaded access to Lupaka’s Invicta gold development project, located 120 kilometres north of the capital city Lima.
The…
