Loncor Controls 4M Ounces of Gold In Mining-Friendly DRC
In the heart of the Democratic Republic of the Congo (DRC), Loncor Gold, a Canadian exploration company soaring past $2,277. Here’s why you should take notice:
SUBSTANTIAL GOLD RESERVES
Loncor Gold boasts control over an impressive 4 million ounces of high-grade gold resources across multiple projects. With a recent non-core property sale, Loncor is about to bolster its coffers by $13.5 million in cash, fortifying its financial position.
THE ADUMBI GOLD DEPOSIT – THE 2ND LARGEST IN THE DRC
The company gears up to channel this newfound liquidity into its flagship Adumbi gold deposit, a titan in its own right, ranking as the second-largest gold deposit in the DRC. Adumbi shines with a substantial 1.88 million ounces of gold (Indicated), alongside an additional 2.1 million ounces of gold (Inferred), with Loncor commanding an impressive 85% stake.
$1.3 BILLION IN AFTER TAX VALUE AT GOLD PRICE OF $2,000/OZ
Boasting an after tax value of $1.3 billion at a conservative $2,000per ounce, Adumbi promises an average annual production of 303,000 ounces of gold over a decade-long span, with its resource base still expanding. With a mining permit already secured, the path is paved for Adumbi’s development, poised to unlock significant value for Loncor Gold and its stakeholders.
STRATEGIC LOCATION AND MINING POTENTIAL
Nestled just 130 miles from Africa’s largest gold mine, Kibali, Loncor Gold finds itself in great company. The mine, recognized for its prolific potential, has witnessed continuous gold production exceeding 800,000 ounces annually for over a decade, with resources surpassing 15 million ounces and counting.
THE DRC: A HAVEN FOR MINERAL WEALTH
Beyond gold, the DRC stands as a global powerhouse in copper, cobalt, lithium, zinc, and tin production. The DRC is known for hosting major mining companies like Glencore, Ivanhoe, and AngloGold. Its mining-friendly policies and stable governance, highlighted by successful democratic elections in December 2023, make it an attractive opportunity in the mining industry.
UNEARTHING PROSPERITY
Loncor Gold’s success story in the DRC isn’t just about striking gold; it’s a testament to unlocking the vast mineral wealth lying beneath the surface. With reserves, strategic positioning, and a conducive mining environment, Loncor Gold offers an opportunity to leverage the rising trend in gold prices and explore the abundant potential of the mining environment in the Democratic Republic of the Congo.
Watch this powerful interview with John Barker, Chief Executive Officer of Loncor Gold.
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