LCL Resources Secures AU$10 million Cash Deal for Colombian Assets

LCL Resources Limited (ASX: LCL) has agreed to sell its Colombian gold projects—Andes and Quinchia—to Tiger Gold Corp under a revised agreement worth AU$10 million in cash. The agreement eliminates previous share-based consideration, replacing it with AU$7.5 million in staged cash payments over 12 months and an additional AU$2.5 million upon first gold pour. A 1% net smelter royalty will further enhance LCL’s long-term value. Tiger now holds a binding option to acquire the assets and can exercise it privately or via a public listing, pending shareholder approval. LCL has already secured 26% shareholder support and urges all shareholders to approve the deal at the upcoming AGM. If approved, Tiger will assume full operational responsibility and costs, enabling LCL to focus on future exploration. This revised agreement offers greater financial certainty and flexibility, aligning with both companies' strategic objectives while enhancing shareholder value.

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