Note: PrivatePlacements.com has NOT received compensation from any of the companies listed below in connection with this message, nor is the writer an investor in any company listed.
Fellow investor,
Loncor Gold Inc. (TSX: LN) announced a $4.9 million non-brokered private placement on Monday.
The company plans to issue 7 million units at 70 cents each, with each consisting of a common share and a half-warrant. Full warrants will be exercisable at $0.95 for a year.
Loncor says that "certain insiders" have already subscribed for 15% of the offering. Proceeds will go toward ongoing exploration at the company's 84.69% owned Imbo project on the Ngayu Belt in the Democratic Republic of the Congo.
Loncor expects a Preliminary Economic Assessment of the project soon, after its ongoing 7,000-metre drill program is completed. In the latest round of drill results, the company intercepted 7.04 metres of 2.68 grams of gold per tonne (g/t Au), 20.00 metres of 4.21 g/t Au, and 11.00 metres of 6.91 g/t Au. Currently, estimates at the project peg it with 41.37 million tonnes grading 2.37 g/t Au, or about 3.15 million ounces of gold.
Shares of Loncor rose between March and May following previous positive drill results, but since have declined a bit. Still the stock remains substantially above the level at which it ended in 2020, closing at $0.72 on Monday afternoon.
Happy investing,
The PrivatePlacements.com Team
Disclaimer: The service and the contents are provided by the sender and other information providers on an "as is" basis. The sender and any and all other information providers expressly disclaim any and all warranties, express or implied any information herein or on PrivatePlacements.com.
PrivatePlacements.com and its and its owner and its owner's directors, employees, consultants, contractors, agents, and the like ("Representatives"), do not give any tax or investment advice; and do not advocate the purchase or sale of any security or investment. Contents are intended as general information. None of the contents constitutes an: (1) offer to sell or the solicitation of an offer to buy by Blender Media and/or its representatives any security or other investment; (2) offer by PrivatePlacements.com or its owner and/or their representatives to provide investment services of any kind; and/or (3) invitation, inducement, or encouragement by Blender Media and/or its representatives to any person to make any kind of investment decision. You should not rely on the content for investment or trading purposes. Securities or other investments referred to in any of the contents may not be suitable for you, and you should not make any kind of investment decision in relation to them without first obtaining independent investment advice from a person authorized to give it. All communications by PrivatePlacements.com are subject to its terms of use and disclaimer, which can be viewed here and here.
No comments:
Post a Comment