Loncor Gold Inc T.LN

Alternate Symbol(s): LONCF

Metals & Mining Gold

Loncor Gold Inc. is a Canadian gold exploration company. The Company is focused on projects within an approximately 480 square kilometers (km2) area on the Ngayu Greenstone Belt in the Northeast of The Democratic Republic of the Congo (the DRC). The area is located over 220 kilometers southwest of the Kibali gold mine, which is operated by Barrick Gold (Congo) SARL. It owns or controls a contiguous block of 46 exploration permits covering an area of over 13,000 km2 to the northwest of Lake Edward in North Kivu province. The Adumbi gold deposit is found within the Company’s 84.68% owned Imbo Project area. At the Imbo Project, the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold, and the Adumbi deposit and two neighboring deposits hold an inferred mineral resource of approximately 2.090 million ounces of gold with 84.68% of these resources being attributable to the Company.

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Loncor Gold Inc > Twin Hills Namibia PEA ..$300 per ounce

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Comment by SusanBollandon Nov 17, 2021 7:37am

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Post# 34135084

RE:Twin Hills Namibia PEA ..$300 per ounce

nozzpack wrote:
PEA Highlights

15-year Life-of-Mine (“LOM”) and 3.5 million tonnes per annum (“mtpa”) processing capacity.

LOM gold recovery of 90.9% utilising conventional 3-stage crushing/ball milling and carbon-in-leach processing layout.

Average annual gold production for years two to six of 124,000 ounces per year at an average operating cost of US$827/oz produced. Average LOM gold production of 99,000 ounces per annum.

Pre-production capital cost estimate of US$176 million plus US$26m contingency (15%).

Cumulative LOM net cash flow of US$858 million (pre-tax) and US$560 million (after-tax).

Net Present Value (“NPV”) of US$579 million (pre-tax) and US$377 million (after-tax) at a 5% discount rate with a respective after-tax payback period of 2.3 years and internal rate of return ("IRR") of 38%, using a base gold price of US$1,700/oz.

PEA based on the previously reported Mineral Resource block model from the Technical Report, using a cut-off grade of 0.3 g/t Au, resulting in an Indicated Mineral Resource of 14.0 million tonnes (“Mt”) at 0.98 g/t Au and an Inferred Mineral Resource of 46.2 Mt at 1.02 g/t Au, derived from 69,000m of drilling.

An additional 31,987 m of infill and expansion drilling has been completed at Twin Hills since the April 1, 2021 effective date of the Technical Report, but has not been included in the PEA. This will be included in subsequent updates of the Mineral Resource once the drill program has been completed and all corresponding assay results have been received.