Lupaka Gold Corp.
Lupaka Gold Corp. (TSXV: LPK) is a Vancouver-based gold exploration company. Its only mineral properties are the Idol City and Pine Creek gold properties in south-east Oregon, held 100% through Lupaka USA Limited and staked in December 2021; neither has a mineral resource estimate. At Idol City, earlier Noranda drilling intersected 43 metres grading 1.37 g/t gold, and the company believes enough data exist to support an NI 43-101 report; at Pine Creek, a Battle Mountain hole intersected 9 metres at 1.20 g/t gold. Lupaka lost its former Invicta gold project in Peru when it lost control of the owning subsidiary to PLI Huaura Holdings on 2 July 2019. On 30 June 2025 an ICSID tribunal found that Peru had unlawfully expropriated Invicta and awarded Lupaka US$40.4 million plus interest and about US$4.2 million in costs. Peru's Ministry of Energy and Mines paid about US$49.4 million, 70% of the award with interest, in August 2026; the remaining 30%, about US$21.2 million, is due from the Ministry of the Interior by 31 December 2026. Net proceeds are being paid to holders of the company's contingent value rights (a first payment of US$0.109 per right was declared on 17 August 2026), and management is looking for new projects.
Lifecycle Milestones
Jurisdiction (40%)9/10
Lupaka's remaining properties are in south-east Oregon, USA, a Tier-1 mining jurisdiction. The company notes that Oregon's environmental laws of the 1990s were seen as very restrictive and halted mine development there for years, although the state has since become more supportive of mining.
Infrastructure (40%)No verified figure
Researched with nothing found: no source we could cite confirms or rules out an existing mill, road access, grid power, or tailings facility at Idol City Gold Property, south-east Oregon, USA (checked Oct 5, 2026; recheck due Apr 3, 2027). Counts at a neutral 5/10 until one does.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President and Chief Executive Officer of Lupaka Gold Corp. (since September 2017) and Chief Operating Officer of Silver Storm Mining Ltd. (TSXV: SVRS, formerly Golden Tag Resources). Over 20 years of experience across the development and construction of seven mines in the Americas. Previously Director of Business Development at FNX Mining Company Inc., Vice President of Corporate Planning & Strategy at Lake Shore Gold Corp., and Chief Operating Officer of Mineral Streams Inc., where he helped orchestrate its sale to AuRico Metals Inc. in 2015.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Lupaka's situation is unusual: its Invicta project was blockaded by protesters in 2018, and in 2025 an international arbitration tribunal awarded the company roughly US$40-49 million against the Peruvian government for failing to stop the disruption -- an award still being collected rather than a live mine-development story. Its other Peru asset is an option to earn 65% of the Josnitoro property FROM Hochschild Mining, which makes Hochschild a seller to Lupaka, not an investor in it. No producer or named specialist fund holds a disclosed position, and there are no insider trading records in our data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Lupaka Gold is a Vancouver-based gold explorer whose only mineral properties are the Idol City and Pine Creek gold properties in south-east Oregon, held 100% through Lupaka USA and staked in December 2021; neither has a resource estimate. At Idol City, earlier drilling by Noranda intersected 43 metres grading 1.37 g/t gold, and at Pine Creek a Battle Mountain hole intersected 9 metres at 1.20 g/t gold. Lupaka lost its former Invicta gold project in Peru when it lost control of the owning subsidiary on 2 July 2019, and in 2025 an ICSID tribunal found that Peru had unlawfully expropriated Invicta and awarded the company US$40.4 million plus interest and about US$4.2 million in costs. Peru's Ministry of Energy and Mines paid about US$49.4 million, 70% of the award with interest, by the end of July 2026, and the remaining 30%, about US$21.2 million, is due from the Ministry of the Interior by 31 December 2026. Net proceeds are being paid to holders of the company's contingent value rights, with a first payment of US$0.109 per right declared on 17 August 2026, and management is looking for new projects.