Loncor Gold Inc.
Well Positioned Amidst Rising M&A in Junior Gold
Published: 1/8/2024
Author: Sid Rajeev, B.Tech, CFA, MBA
*See important disclosures at the bottom of this reportSector: Basic Materials | Industry: Gold
LN.TO - TSX 🔹
LONCF - NASDAQ 🔹
Metrics | Value |
---|---|
Current Price | US $0.39 |
Fair Value | US $0.76 |
Risk | 5 |
Week Range | US $0.26-0.48 |
Shares O/S (M) | 153 |
Market Cap. (M) | US $60 |
Current Yield (%) | N/A |
P/E (forward) | N/A |
P/B | 1.5 |
Highlights
We are reinitiating coverage on Loncor Gold. In December 2023, LN announced a deal to sell its Makapela property, located near its flagship Adumbi gold deposit in the Democratic Republic of the Congo (the “DRC”), for C$13.5M. This transaction provides Loncor with significant non-dilutive financing for advancing Adumbi.
LN’s Imbo project hosts multiple targets including Adumbi, Kitenge, and Manzako. The flagship Adumbi deposit hosts a large/high-grade open-pittable resource totaling 3.7 Moz gold (2.4 gpt). The project is 220 km from Barrick’s (TSX: ABX) Kibali mine, the largest gold mine in Africa, and has mining permits in place.
Metrics | Value |
---|---|
Current Price | US $0.39 |
Fair Value | US $0.76 |
Risk | 5 |
Week Range | US $0.26-0.48 |
Shares O/S (M) | 153 |
Market Cap. (M) | US $60 |
Current Yield (%) | N/A |
P/E (forward) | N/A |
P/B | 1.5 |