Time has proven that this company is more of a lifestyle company. They merged with Andes Resources back in 2019, raising more than $20 million to drill in Quinchia, only to now sell the entire Quinchia project at a loss. Worse still, they paid $300K annually to maintain the Quinchia tenements, yet no exploration activities or drilling have taken place in the region.Since the last capital raise in November 2023, not a single drill has been conducted in the PNG region, despite their promises. They consistently overpromise and underdeliver. If they believe that listing LCL on the Canadian Stock Exchange will redeem them, they are deluding themselves.Take a look at Batero Gold (TSX: BAT), another gold project in the Quinchia region — they are now merely a shell company with no active drilling program.
LCL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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