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LCL Resources Limited (ASX:LCL)

ALERT: Price-sensitive ASX Announcement for LCL
Current share price for LCL : $0.007 0 (0%)+
Announcement
Release
10 Jun 2026 9:23AM
Price at Release
$0.007
Full Release
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Summary
LCL Resources Limited announced that Tiger Gold Corp has exercised its option to acquire 100% of LCL's Colombian Assets with a final staged cash payment of $4.5 million, following a previous payment, totaling $7.5 million in cash proceeds. The transfer of assets is scheduled for 11 June 2026. LCL retains a deferred payment of $6.5 million payable upon the first gold pour from these assets and a 1% net smelter royalty. This transaction strengthens LCL's financial position, making it debt-free and well-capitalised, thus enhancing its ability to pursue future acquisitions and exploration activities, including ongoing projects with Rio Tinto in PNG.
Key Points
  • Tiger Gold Corp has exercised the option to acquire 100% of LCL's Colombian Assets.
  • Final option payment of $4.5 million received by LCL.
  • Formal completion of asset transfer scheduled for 11 June 2026.
  • LCL retains a deferred payment of $6.5 million upon first gold pour.
  • LCL retains a 1% net smelter royalty on Colombian Assets.
  • The transaction strengthens LCL's balance sheet with $7.5 million in cash.
  • LCL is debt-free and well-capitalised post-transaction.
  • The deal enhances LCL's capacity for future acquisitions and exploration activities.
  • LCL continues its strategic partnership with Rio Tinto at the Ono Project in PNG.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.