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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

Post by mferguson71on Jun 29, 2021 10:52pm
222 Views
Post# 33471328

Hypothetical 6 months out

Hypothetical 6 months outThe last upsized raise was done for 5.75 million. This raise is 4.9 million (original amount)and could be upsized as well. What does this give the company the cash to do? continued drilling, the last dollar spent on drilling increased the deposit 38% or just under a million ounces. With a few holes not included could we see his cash be used for the same results? If not slightly better (as we drill deeper). My guess is this then gives the company a very nice PEA (nozz has a fabulous rough draft in the thread) as well as the possibility of adding 1.5 million ounces as to hit tier 1 status. A company if achieving this situation will go from 2.5 million ounces to 5 million in less than 2 years without diluting existing shareholders. Just over 10 million raised and an additional 25 million shares issued given all warrants exercised. This is a fabulous job done by management coming out of a bear market. Remember that's just their flagship property. They still have a number of attractive projects that aren't getting any attention yet that other juniors would be bragging up as world class potentially depositins
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