Another example of brutal undervaluationHere is an even more startling comparison.
Augusta Gold ( G) recently announced its initial 43-101 for its flagship gold deposit.
That deposit has 1.01 million ounces at an average grade of just 0.54 gms per ton.
Augusta market cap is $120 million.
Loncor has over 5 million ounces averaging nearly 10 times that of G ( Including Makapela ) and a current market cap of just $80 m.
The PM market is very competitive, with much higher valuations given to those who can get their face in the promotinal sun....what I call cosmetic valuation.
G is followed by many analysts.
Loncor has no coverage and rather sparce promotion.
Hence this brutal under valuation.
However, cosmetic valuation means little when it comes to fundamental valuation in which a sale process is the valuator.
Just a few weeks or so left for the PEA to give us that fundamental valuation