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LCL, LOS CERROS LIMITED
nipper
post Posted: Apr 6 2021, 01:42 PM
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Los Cerros Limited (LCL), backed into Metminco Limited MNC in Jan 2020 after a 1 for 40 consolidation (essentially wiping out earlier shareholders)

It is an ASX listed exploration and mining company, advancing a strong portfolio of exploration projects located in Colombia and Chile, mainly focused on gold, but with exposure to copper, molybdenum, and zinc. Projects range from early stage exploration, through advanced stage exploration to feasibility.

By October 2020Raised cash, extinguished debt.
Raised more cash
Return to exploration field work in the second half of the year.
Final Chuscal drill results confirms extensive epithermal gold overprinting porphyry gold
Dosquebradas Resources grows total Quinchia Gold Project Mineral Resources to 1.3Moz
AngloGold becomes shareholder; LCL secures 100% of the Chuscal prospect, and therefore 100% of entire Quinchia Project
HK Ausino $2M exploration partnership signed, first purchase order placed for drill rig and peripherals
Chuscal targeting and 3-D modelling. 3 porphyry targets for 2020 drill program
Miraflores review reveals potential for more high grade targets white/Grey Breccia

Tesorito: Step out program from previous successful drilling and investigation of NE anomalous region grade ISS veins
Early Sept: Exceptionally wide gold intercept 230m returned from Los Cerros first diamond hole (TS-DH08) at the southern Tesorito anomaly in Colombia


At end of 2021, LCL has $7 million in cash and a cash burn of around $1.2 million a quarter (last quarter)
Drilling lots of porphery targets and getting big intersections with low gold (<1g/t Au). Today, up nearly 20% after emerging from a TH, the MD said Tesorito South was elevated to a globally significant recent gold porphyry discovery.







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