RE:Updated PEA for Adumbi ..V Lake ProxyNozz this is why I believe ABX has been quiet on all fronts when it comes to any exploration on Loncors properties. By releasing any information it only attracts more attention to the story and increases the potential bidding price.
I truly think that management should consider spin out on everything except Adumbi, to extract value for ALL of the properties. The market is clearly undervaluing Adumbi to begin with, yet alone having any value tied to the other properties. With exploration limited to dollars they raise, they should focus on Adumbi as it is the best ROI in dollars invested into drilling - easy ounces on continued infill and expansion of the resource.
BUT.... longer term they need to think about what happens when the bidding war happens for Adumbi and what is best for all shareholders - remember management and insiders own 55% of the stock. Insiders being Resolute Mining and Newmont
Below is Loncors updated powerpoint for investors.
https://loncor.com/site/assets/files/5766/may_2021_updated_presentation.pdf