The latest update is out from Los Cerros ( (AU:LCL) ).
LCL Resources Limited has executed a $10 million cash option deal with Tiger Gold Corp for the sale of its Colombian assets, including the Andes and Quinchia Gold Projects. The agreement involves staged cash payments totaling $7.5 million within 12 months and an additional $2.5 million upon the first gold pour, along with a 1% net smelter royalty. This revised deal, which removes share consideration, provides LCL with immediate cash flow potential and reduces uncertainty for shareholders. The transaction is subject to shareholder approval, which the company recommends, to facilitate Tiger’s management of the assets and advance development plans.
More about Los Cerros
LCL Resources Limited operates in the mining industry, focusing on the exploration and development of gold projects. The company is primarily engaged in the Andes Gold Project and the Quinchia Gold Project in Colombia.
Technical Sentiment Signal: Buy
Current Market Cap: €4.02M
Find detailed analytics on LCL stock on TipRanks’ Stock Analysis page.