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 > Site visit by Old Gold.

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Comment by OldGoldon Jan 14, 2021 5:38am

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Post# 32292054

RE:RE:Site visit by Old Gold.

Hi 1kg, the dollars per ounce is only one part of the equation for sure. However, it is common for companies to use this metric to compare one company to another. Lots of other things to consider when valuing a company.

The other one I always look at is grade, like the expression goes, grade is King, and number of ounces is Queen. I have considerable experience in this area, having worked in gold mines from Papua New Guinea, to Brazil and the West of Australia. So, believe me, get enough ounces at a profitable grade, and the rest will sort itself out, as there is big money to be made.

The joint venture looks fine. The fact Loncor was able to get a JV with a giant like Barrick in the first place, tells me the protentional of the leases held by Loncor is massive. Barrick are looking for another tier-1 deposit, and in my very experienced opinion, this will be one. With well over three million ounces already, and growing with every round of drilling, getting to five million ounces, won't be a problem.

The grade is also excellent, sitting at well over three grams a ton, it is on par with Barricks 800k oz a year monster, that is just down the road, Kibali . The story for Loncor is just beginning, 2021 will be a big year for this one. ( I will try and attach a photo, I have not had much luck with this in the past, so fingers crossed.)

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