Loncor Gold Inc.
A Compelling M&A Target Near Africa’s Largest Gold Mine
Published: 9/13/2024
Author: FRC Analysts
*See important disclosures at the bottom of this reportSector: Basic Materials | Industry: Gold
Ticker Symbols:
LN.TO - TSX 🔹
LONCF - NASDAQ 🔹
- LN is planning an aggressive resource expansion drill program (totaling 13,400 m) at its Imbo project in the Democratic Republic of the Congo (DRC). Imbo hosts three open-pittable deposits (Adumbi, Kitenge, and Manzako) and multiple high-interest targets. The project is 220 km from Barrick’s (TSX: ABX) Kibali mine, the largest gold mine in Africa, and has mining permits in place.
- The flagship Adumbi deposit hosts a large/high-grade resource totaling 3.7 Moz gold (2.3 g/t).
- A 2021 Preliminary Economic Assessment (PEA) returned an AT-NPV5% of $600M, and an attractive AT-IRR of 25%, using $1,600/oz gold vs the spot price of $2,515/oz. LN is trading at just 6% of t