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

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Post by nozzpackon Jun 06, 2021 5:50am

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Post# 33337027

ABX Has No Net Cash... Kibali metrics less attractive

Kibali quarterly report.

Underground grade is 5.32 gms per ton versus 2.59 gms per ton for the open pits.

Average grades are in steady decline to 3.33 gms /ton and AISC is increasing to $856 per ounce.

ABX has excess of debt and payables over cash and some of its mines have AISC exceeding POG.
Acquisition power is now limited and very vulnerable to NewMont takeover.

It is now raising $4 billion

Note that there is a 2 to 1 ratio in underground gold grades to surface open pit grades.

This gold grade ratio is quite normal for most mines which have underground operations

Makapela open pit grades are 7.02 gms per ton.

Based on Kibali, the underground source lodes would be over 14 gms per ton

Mongaelina surface trench grades averaged over 18 gms per ton .

Based on Kibali, its underground source lodes would be over 36 gms per ton

Compared to Makapela grades, Kibali is not in the same league .

NewMount holds shares of Loncor and could beneficially dash ABX plans to grab Loncor assets on the cheap.

Lots of issues being played out here........Loncor will be courted by several suitors

https://s25.q4cdn.com/322814910/files/doc_presentations/2021/Barrick-Q1-2021-Results-Presentation.pdf