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 > Resolute Financials

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Post by nozzpackon Dec 21, 2021 9:03pm

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Post# 34252921

Resolute Financials

Production continues to decline , cash costs have now risen to $1500 US per ounce and they are burning through cash.

I don't foresee them being able to finance their share (25% ) of the Adumbi mine any time soon, if at all.

So at some point propitious to Resolute, it's position will be offered for sale.

Its shell KGL has now been rolled back, waiting for its new project.

So, a nice exit for Resolute, selling its Loncor position subsequent to KGL being allocated, perhaps, a 25% WI in another Nygau project..just sayin

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Advancing flagship Ishkõday Gold Project in Ontario