This strategic acquisition marks a significant partnership and a transition from exploration to developing this asset towards production as quickly as possible.
LCL Resources (ASX:LCL)
VANCOUVER, BC, CANADA, May 15, 2025 /EINPresswire.com/ -- Tiger Gold Corp announces the strategic acquisition of the Quinchia and Andes gold projects from LCL Resources (ASX: LCL). The deal marks a significant partnership for the two companies, and the transition from exploration to the development of the project through an aggressive work program to expand the resource, de-risk the project, and advance it through the pipeline towards production, which will create significant value for shareholders.The acquisition—structured as a binding Share Purchase Option Agreement valued at AUD$14 million in cash plus a 1% Net Smelter Royalty—comes with the support of over 27% of LCL’s major shareholders, with 99% of votes cast so far in favor of the transaction to date. Tiger Gold’s CEO, Robert Vallis, sees the opportunity as both a strategic acquisition and a commitment to the community in Colombia.
“This is not simply a transaction—it’s a significant transition,” Mr. Vallis said. “LCL has laid an impressive foundation in Colombia, not just geologically but socially. Tiger is very well positioned to build on that momentum with a disciplined focus on technical execution and a commitment to sustainable local partnerships.”
Carrying the Torch
The Quinchia and Andes projects are emerging exploration projects in Colombia. Through disciplined exploration, LCL has discovered over 2 million ounces of gold, establishing a strong geological base and trust with local stakeholders culminating in the permitting of an underground mine at the main Miraflores deposit. Beyond resource development, the company has earned a reputation for responsible practices and authentic community partnerships.
Tiger has begun work on the project in preparation for a NI 43-101 Preliminary Economic Assessment (“PEA”) which will focus on the permitted deposit, Miraflores, and include the adjacent, newly discovered Tesorito deposit. This study is the first step in defining and advancing the project towards a Feasibility Study in 2026 and a subsequent construction decision.
Realizing Value for LCL Shareholders
“This is a winning transaction for both companies,” said Mr. Vallis. “LCL shareholders realize immediate and near-term value with $7.5M In cash while providing shareholders with long-term upside without assuming any of the development risk.”
Tiger’s ability to de-risk projects and create shareholder value from decades of success in the mining industry, ensures that the Quinchia Project will continue to advance with the same level of quality and integrity. Tiger will continue working with LCL’s Colombian subsidiary exploration team, which will be joining Tiger Gold’s team upon Closing, ensuring continuity.
Tiger Gold: An Experienced Team at the Helm
Tiger Gold Corp. brings a depth of operational expertise with securing, advancing, developing, and de-risking projects around the world. Tiger’s management team has the pedigree and track record required to unlock the value of the Colombian assets. Led by a multidisciplinary management team of professionals with extensive global experience at international mining giants including AngloGold Ashanti, Barrick Gold, Yamana Gold, and B2Gold.
Tiger is led by CEO Robert Vallis, who has a distinguished history of involvement with notable value creation in the mining sector. His contributions to transformative transactions includes Barrick’s $9.5 billion acquisition of Placer Dome, the $3.9 billion joint takeover of Osisko Mining with Agnico Eagle, and the successful acquisition and development of Cerro Moro project in Argentina—an asset advanced through Yamana’s project pipeline from early exploration to resource discovery and into production, ultimately becoming a cornerstone producer for Yamana.
The considerable track record and experience is now being focused on Colombia to unlock value for shareholders. Tiger’s plan for the Quinchia project is clear: update mineral resource estimates, complete a Preliminary Economic Assessment, and deliver a path to a production decision.
Building the Future Responsibly
Tiger Gold is entering Colombia with more than a plan— “Our philosophy is simple,” said Vallis. “We don’t just develop resources—we develop partnerships. LCL has built a strong foundation of relationships in Columbia, and we’re honored and dedicated to responsibly moving those relationships and the project forward in a way that benefits all stakeholders—from local communities to governmental authorities to shareholders.”
Contact:
Investor Relations
Tiger Gold Corp.
Email: info@tigergoldcorp.com
Website: www.tigergoldcorp.com
Tiger Gold Corp
Tiger Gold Corp
email us here
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
