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Loncor Gold Inc T.LN

Alternate Symbol(s):  LONCF

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.


TSX:LN - Post by User

Comment by nozzpackon Feb 09, 2022 8:11am
40 Views
Post# 34411473

RE:Guess I got it Right eh Nozz!

RE:Guess I got it Right eh Nozz!Mon Dieu, you are a persistent liar as well as an idiot.

All of the costs are generously included in the frontal PEA.

Strip ratio like for most gold mines will start higher ...when it will be capitalized..and then decline.

Such is the case here.....gets down to less than 2,4.by the time they go underground.

And, did you not know that they will steepen the sides of Adumbi ( economic gold exists outside the current pit shell )  to reduce stripping costs which will bring mining costs of the pit  below those assumed in the PEA.

As for resettlement of the few artisanal miners on lands that they do not own ( or need as most will be employed by LN )....read this excerpt from the PEA..

Six artisanal mining villages identified within the project footprint have been assessed for social repositioning.

The total population of these villages is estimated to be approximately 5,800.

The legal situation regarding compliance with the DRC resettlement plan process, assessment and reporting requirements is unclear on the repositioning of artisanal mining huts and in other mine developments in DRC, artisanal miners were not compensated or resettled.

Future studies (ESIS, ESMPP and MRP) will be undertaken to clarify this situation.

However, Minecon employed a conservative approach in the estimation of the social repositioning of the six artisanal settlements that will be impacted by the project development.

Minecon believes that if the livelihood restoration programmes are accepted for the repositioning of artisanal miners within the Adumbi mine footprint, the capital budget could be significantly lower than estimated in this PEA study.
 
 
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