Insights

Los Cerros (ASX:LCL) share price jumps 7% on gold update

Investors appear excited about the company’s prospects…
The post Los Cerros (ASX:LCL) share price jumps 7% on gold update appeared first on The Motley Fool Australia. –

The Los Cerros Ltd (ASX: LCL) share price headed north today following the company’s latest diamond drilling results.

At the closing bell, Los Cerros shares ended the day up 7.69% to 14 cents a pop.

What did Los Cerros announce?

Los Cerros revealed a high-grade gold zone situated at the company’s 100% owned Quinchia Gold Project in Risaralda, Colombia.

According to the release, the Tesorito South gold porphyry discovery has netted significant intercepts from the surface. As such, Los Cerros highlighted the below results:

Drill hole (TS-DH29) intercepted 107.6 meters at 1.1 grams per tonne of gold from surface
Drill hole (TS-DH30) intercepted 144 meters at 1.2 grams per tonne of gold from 6 meters
Drill hole (TS-DH28) intercepted 280 meters at 0.83 grams per tonne of gold from 148 meters

The results form a large part of a drilling program that aims to identify boundaries of Tesorito South’s gold mineralisation. Los Cerros noted that the latest findings continue to demonstrate a further expansion of the high-grade shallow gold zone.

Los Cerros managing director, Jason Stirbinskis added:

We continue to be encouraged by strong results from our Tesorito drill campaign, particularly the high-grade surface results in TS-DH29 and ’30 which add to the potential volumes of 2-3g/t gold extending from surface- which is always going be a positive when we ultimately consider mining economics.

The next steps for Los Cerros will be conducting a drone-based regional magnetic survey and deep IP (Induced Polarisation) geophysical programs over the Tesorito-Miraflores area.

The company has four drill rigs currently drilling at Tesorito South with three rigs pursuing extensions to the north of the established zones. The fourth rig has commenced testing southern extensions which remain open on a wide front.

Los Cerros share price summary

Despite today’s gains, Los Cerros shares have tracked almost 30% lower over the past 12 months. When looking at year-to-date, its shares have travelled the other way, up around 10%.

On valuation grounds, Los Cerros presides a market capitalisation of roughly $89 million, with approximately 635.6 million shares on issue.

The post Los Cerros (ASX:LCL) share price jumps 7% on gold update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Los Cerros right now?

Before you consider Los Cerros, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Los Cerros wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

2 top tech ETFs for ASX investors in October

2 founder-led ASX shares to buy now

Tesla share price climbs following latest disruptive development

Why is the AGL (ASX:AGL) share price down almost 4% on Tuesday?
Leading brokers name 3 ASX shares to sell today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!