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Los Cerros ( (AU:LCL) ) has provided an announcement.
LCL Resources has executed an amended Option Agreement for the divestment of its Colombian projects, including the Quinchia and Andes Gold Projects, to Tiger Gold Corporation for a total consideration of A$14 million and a 1% Net Smelter Royalty. The agreement received overwhelming shareholder approval, with Tiger making an initial payment of A$1 million and assuming management of the Colombian projects. Additionally, LCL commenced fieldwork at the Ubei epithermal vein target in Papua New Guinea, marking a significant step in its exploration activities in the region.
More about Los Cerros
LCL Resources, trading as ASX:LCL, operates in the mining industry with a focus on gold projects. The company is involved in the exploration and development of mineral resources, primarily in Colombia and Papua New Guinea.
Technical Sentiment Signal: Sell
Current Market Cap: A$7.2M
Learn more about LCL stock on TipRanks’ Stock Analysis page.