Bullet have been headquartered in Colombia since 1996 and must have a fair bit of clout over there as they played a big part in signing over the Andes project to Andes Resources. Most here will know that LCL were formed from the merger of Metminco and Andes Resources. A guy named Robert W Allen is the president of Bullet Corporation and he's also a director for 02Gold. Project – O2GOLD (otugold.com) From the "About Us" tab on 02's website -
O2 Gold is focused entirely on the exploration of the Otú Fault project, with senior management based in nearby Medellín. The team’s deep roots and experience in Latin America—in both capital markets and mining—gives it the regional knowledge and operational expertise to create a world-class project
Doing a quick google search on Mr Allen reveals that he's been involved in many mining transactions around Latin America over the years and has vast experience in that region. I wouldn't think that he and Bullet would be involved with LCL unless they saw very real value in the project. It might very well be that 02 Gold makes a play for LCL at some point or that Mr Allen pulls some strings to advance a mining license. Just my thoughts.
Like others have said here, it's good that LCL persues a ML for Miraflores. They may never mine it but it would give potential buy out companies confidence that they can move things forward re mining Tessorito etc.
LCL Price at posting:
13.0¢ Sentiment: None Disclosure: Held
