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 Sep 23, 2021 6:22pm

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Post# 33911923

Anglo Gold Acquites Corvus above its PEA

Announced today for $370 million US.

Mother lode has a Total project measured and indicated ounces: 1.55 moz gold; 1.51 moz silver

Total project inferred ounces: 170,000 oz gold; 400,000 oz silver.

Roughly about 1.9 million ounces of gold equivalent with production of about 175,000 ounces per year

Recent PEA was $303 US.

So about $200 US per ounce of undeveloped gold in the ground or about 25 times Adumbi current market cap per ounce