Loncor Gold Completes C$9.4 Million Private Placement to Boost DRC Exploration

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

On May 23, 2025, Loncor Gold Inc. announced the successful closing of a brokered private placement, raising gross proceeds of C$9.4 million. This financing, which included the full exercise of the agent’s option, will support the continued exploration and development of the Imbo Project in the Democratic Republic of the Congo. The offering, managed by Red Cloud Securities Inc., involved the sale of units comprising common shares and warrants, with securities sold to Canadian and international investors. The funds will be used for exploration activities and general corporate purposes, potentially enhancing Loncor’s operational capabilities and strengthening its position in the gold exploration industry.

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. The company has a significant resource base centered on the Imbo Project, which includes the Adumbi deposit with substantial indicated and inferred mineral resources. Loncor has been involved in exploration and economic assessments in the region, aiming to advance its projects and expand its resource base.

Average Trading Volume: 267,560

Technical Sentiment Signal: Hold

Current Market Cap: C$104.7M

Learn more about LN stock on TipRanks’ Stock Analysis page.