Ann: Quinchia Gold Project (Colombia) Update, page-189

NI still backing LCL and have proposed theory on what may trigger a rerate when looking at Au asset side... Potential from PNG assets also exist if news comes out of left field... Watching brief and accumulation time for holders....

LCL Resources (ASX:LCL)

LCL has a gold asset in Columbia with a 2.6M oz gold resource.

Prior to 2022, LCL’s Colombian gold project was progressingrapidly, but was effectively paused by the company due to uncertainty frommining policy changes by the newly elected Colombian government.

In 2023, LCL’s environmental licence was approved, so it seemsthat the government's stance on mining projects may be thawing earlier thananticipated.

In an update earlier this month LCL mentioned it “is in early stage discussions withseveral companies seeking advanced gold-copper projects with exploration upside”.

LCL also acquired a new gold project in 2023 located in thehighly prospective region of Papua New Guinea, considered "elephantcountry" for large gold and copper discoveries

Given LCL’s market cap is just $11.5M, we think any positivenews on the gold front could start to build some positive momentum for thecompany…

Read our LCL Investment Memo here.