Loncor Gold Boosts Drilling Operations at Adumbi with New Rig

Loncor Gold ( (TSE:LN) ) has provided an update.

On August 6, 2025, Loncor Gold Inc. announced the arrival of an additional core rig at its Adumbi deposit to accelerate its deep drilling program. The new rig is expected to enhance the company’s drilling capabilities, addressing the slower-than-expected progress made earlier in the year. This development is part of Loncor’s strategy to advance its exploration efforts in the DRC, potentially impacting its operational efficiency and resource estimation positively.

The most recent analyst rating on (TSE:LN) stock is a Buy with a C$1.57 price target. To see the full list of analyst forecasts on Loncor Gold stock, see the TSE:LN Stock Forecast page.

Spark’s Take on TSE:LN Stock

According to Spark, TipRanks’ AI Analyst, TSE:LN is a Underperform.

Loncor Gold’s stock score is primarily impacted by its financial instability, characterized by no revenue, rising losses, and negative cash flows. While technical analysis shows some potential for positive momentum, the company’s valuation remains poor with a negative P/E ratio. Notable corporate events highlight future growth potential but do not offset current financial challenges.

To see Spark’s full report on TSE:LN stock, click here.

More about Loncor Gold

Loncor Gold Inc. is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (DRC). The company’s primary focus is on the Imbo Project, where the Adumbi deposit holds significant gold resources. Loncor has over two decades of experience operating in the DRC, and its resource base in the Ngayu Belt is growing, with a substantial portion of the resources attributable to the company.

Average Trading Volume: 336,922

Technical Sentiment Signal: Buy

Current Market Cap: C$114.2M

See more data about LN stock on TipRanks’ Stock Analysis page.