Interesting use of terminology by Jason in the announcement...

Interesting use of terminology by Jason in the announcement leads me to conclude a step i belive the board are already positioning themselves for

MRE highlights joint Tesorito-Miraflores development optionality which is now being examinedthrough metallurgical test work and a Preliminary Economic Assessment (PEA)

A PEA is a term that comes out of the Canadian National Reporting system as described below. I belive this shows clear intent to seek a listing on the TSX at some stage in the future, whcih will hopefully see a rerating for LCL as the North American Market understands these types of projects unlike the Australian market. Next INvestor were cheeky putting in DeGrey in the last note with EV value based on project size but something like this project in Australia would be in the news every second week and would be 3 times the MC LCL sits at today IMO... .

National Instrument 43-101 (the "NI 43-101" or the "NI") is a national instrument for the Standards of Disclosure for Mineral Projects within Canada. The Instrument is a codified set of rules and guidelines for reporting and displaying information related to mineral properties owned by, or explored by, companies which report these results on stock exchanges within Canada. This includes foreign-owned mining entities who trade on stock exchanges overseen by the Canadian Securities Administrators, even if they only trade on Over The Counter (OTC) derivatives or other instrumented securities.

The National Instrument 43-101 is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code) which regulates the publication of mineral exploration reports on the Australian Stock Exchange (ASX). It is also broadly comparable with the South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC).[1] The reporting codes are, however, not entirely congruent in practice, in that NI 43-101 is more prescriptive in terms of the manner in which mineral exploration reporting is presented, although the content of the technical reports, and the scientific rigors to which the mineral resource classifications within them are put, are often very similar.For TSX listing purposes, an NI 43-101 Technical Report would have to be accompanied by a Report prepared in accordance with NI 43-101. For ASX listings, a JORC Mineral Resource Statement needs to be accompanied by a Valmin Valuation Report, while for JSE listings, a Competent Person's Report (CPRs), which is compliant with SAMREC and The South African Code for the Valuation of Mineral Assets (SAMVAL), needs to be submitted.