LCL 12.5% 0.9¢ lcl resources limited

Yes agree with Snickert. Yes LC deal may well be close. Been...

  1. 60 Posts.
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    Yes agree with Snickert.
    Yes LC deal may well be close. Been talking with people some time now? And as I say, after all the effort with LC MNC do not want to“fire-sale“ it. And the beckoning future in Colombia takes off some pressure?
    MD also made point that Anglo/B2Gold have apparently just received a PMO (provisional mining order??) for the big Gramalote deposit, allowing them to start some works there ahead of full approval for go ahead.
    Highlights improvement in Col. as mining jurisdiction.
    Lot at stake here for the country, which, as many will now know, has recently undergone huge shift towards sound government, negotiating end to long painful civil disorder with FARC. Bit like how Peru finally got on top of Shining Path years ago and is now becoming a major Cu producer. Colombia could become a major gold producer.
    MNC have good corporate skills too (eg look how they cleaned up complex ownership at Calatos, finally secured 100%) and these may well help opportunities in Colombia. Thus logical first call will be a chat with Batero? 1 + 1 = 3?
    But in terms of adding value quickly the main effort will be drill testing Tesorito? Following up the handful of vg existing holes. And the big IP anomaly there (see p 12 of March 2016 MNC presentation).
    Miraflores offers total production of about 0.5moz, around 50,000pa, NPV of around US$50m? Around 100US$/oz.
    Tesorito plus Dosquebradas might be 3-5moz? Or more? Possible production 200-400oz pa?? Big time. Plus Chuscal?
 
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