The lock up agreement between Lachlan Star (ASX: LSA) and Carlton Resources Plc has expired, in regard to Lachlan's 26.4% shareholding in Luiri Gold (ASX: LGM).
Lachlan said it is in discussions with Carlton to sign an amended and restated agreement, which the company said would be based on terms broadly similar to the previous agreement.
The original offer price under the agreement was A$0.20, with Luiri last trading at A$0.15.
Carlton is a United Kingdom based investment company, with a strategy to acquire minority or controlling interests in privately held or publicly-listed resource projects, with a focus on Africa.
Carlton is 28% owned by Nyota Minerals (ASX: NYO, LON: NYO).