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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 1kgcoffeeon Feb 08, 2021 5:02pm
67 Views
Post# 32505336

RE:Was the PP just a buying opportunity

RE:Was the PP just a buying opportunityThe share price is up 10% today.

But the TSXV is up 5%, and the PP represents a bit less than 10% dilution. So really, even though  are nominally up 10% it's nothing to get excited about. We need real results and real interest from Barrick.

It is encouraging that arnold put $100k of his own money in at the PP, but the other insiders have not yet filed. By the way I have not sold anything.

mferguson71 wrote: Looks like the market is reacting to most of the PP being closed very quickly. 

This is a boost of confidence to existing stock holders. Now we wait for more drill results to come in.


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