Loncor Gold Calls Shareholders’ Meeting for Acquisition Approval

Loncor Gold ( (TSE:LN) ) has issued an announcement.

Loncor Gold Inc. has announced a special shareholders’ meeting to approve a proposed arrangement with Chengtun Mining Group Co., Ltd., which involves the acquisition of all outstanding common shares of Loncor for Cdn$1.38 per share. The board of directors, after a thorough review and consultation with advisors, recommends shareholders vote in favor of the arrangement, which requires approval by a significant majority and court sanctioning. Shareholders representing 37% of the shares have already agreed to support the transaction, indicating strong backing for the deal.

The most recent analyst rating on (TSE:LN) stock is a Buy with a C$1.70 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. operates in the mining industry, focusing primarily on gold exploration and development. The company is engaged in advancing its gold projects, with a market focus on maximizing shareholder value through strategic transactions and partnerships.

Average Trading Volume: 488,901

Technical Sentiment Signal: Buy

Current Market Cap: C$231.6M

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