12/02/2025 16:18:52
LCL Resources (ASX: LCL) has provided an update on the sale of its Andes Gold and Quinchia Gold projects in Colombia to Tiger Gold Corp under a binding Share Purchase Option Agreement.
Two key conditions for the transaction have now been met or waived. Tiger Gold Corp. has received the required legal opinion confirming the validity of the mineral claims. Additionally, LCL has waived the requirement for audited financial statements of its Colombian subsidiaries to be delivered before completion. However, the company remains obligated to provide these statements and expects to do so in late February or early March.
The only remaining condition before Tiger Gold Corp. makes its initial payment of AUD$1,000,000 is LCL’s confirmation that all necessary approvals for the transaction have been obtained.
Shareholders will vote on the transaction at a meeting on Monday 17 February 2025. If approved, this will satisfy the final condition for the initial payment. The board and management strongly recommend that shareholders vote in favour of the transaction.