Loncor Gold Inc T.LN

Lundin acquiring Josemaria for 625 million

[mferguson71]

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/377-tsx/lun/112777-lundin-mining-to-acquire-josemaria-resources-meaningfully-increasing-copper-and-gold-growth-profile.html

[nozzpack]

Not too bad for these low grade copper porphyry mines...about 350,000 ounces of gold equivalent per year. Defining 2 m ounces below the pit at Adumbi in 2022 should be a cinch, as the lode widens the deeper you go and grades increase much like Kibali. That should boost the LOM to 17 years ...or more , if they can focus also on doing drilling at the close by two pits averaging 6 gms per ton