Lion Copper and Gold Corp. (OTC:LCGMF) Stock Gains Momentum: Here is Why

Last week, Lion Copper and Gold Corp. (OTC:LCGMF) was one of the companies that had been in the news cycle following a major new announcement. On December 22, it emerged that the fully owned subsidiary unit of Rio Tinto, Nuton LLC, had decided to formally opt into Stage 2b of the Option to Earn in Agreement. The details of the agreement were shared on October 22, 2023. It could be a good idea for investors to take a closer look at the announcement that was made by Lion Copper and Gold Corp. last week.

It was revealed that Stage 2b provided for full funding to the tune of as much as $10 million meant for the completion of the pre-feasibility study at the Yerrington Copper Project. The study in question is expected to be concluded in the third fiscal quarter of 2024. However, perhaps more importantly, Nuton also provided as much as $1.5 million in the form of an advance for Stage 3 funding for the exploration of the Bear project. The funding had been provided on the back of positive drilling results in 2023. By the end of December 2023, fresh funds to the tune of as much as $11.5 million would be deposited into Lion Copper and Gold Corp.’s accounts. The money had been earmarked for spending on a thorough scope of work, which would be agreed upon first by the two companies involved.

The Chief Executive Officer and co-chairman of the company, Travis Naugle, spoke about the situation at the time. He noted that the most recent exploration results provided evidence that the company had not really been able to unearth the full potential of the Bear deposit. He noted that with the support of Nuton, it would be possible for the company to advance both the drilling efforts and the study.