Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

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

Post by nozzpackon Feb 14, 2022 1:37pm
98 Views
Post# 34426915

Offtake Agreement will substantially Reduce Initial Capex

Offtake Agreement will substantially Reduce Initial Capex
Cost optimization process continues. The Adumbi open pit at its base is open laterally Just a single drill hole there and that intersected greater than 3 gms per ton. So a few drill holes confirming these grades would steepen the slopes of the pit, reducing the strip ratio to very modest levels.

Secondly Loncor 
is already in discussion with potential power suppliers with experience in the DRC to project finance and build a hydroelectric facility at Adumbi, and then have an offtake agreement with the Company to supply power for the mining operation.
Initial capex would be substantially reduced.
A short hiatus here while they seek JV partners with the right deal..
<< Previous
Bullboard Posts
Next >>