Loncor Gold Launches C$5 Million Private Placement for DRC Project

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

Loncor Gold Inc. has announced a brokered private placement agreement with Red Cloud Securities Inc. to raise up to C$5 million through the sale of units consisting of common shares and warrants. The proceeds will be used for the exploration and advancement of the Imbo Project in the DRC and for general corporate purposes. The offering is expected to close on May 23, 2025, subject to necessary approvals.

Spark’s Take on TSE:LN Stock

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

Loncor Gold’s overall score reflects significant financial challenges, including no revenue and rising losses, which heavily impact its stock evaluation. Technical indicators show some positive momentum, but valuation issues persist with a negative P/E ratio and no dividend yield. Despite positive corporate events suggesting potential future growth, the current financial instability remains a critical concern.

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 over two decades of experience operating in the DRC and is primarily focused on the Imbo Project, which includes the Adumbi deposit with significant indicated and inferred gold resources.

YTD Price Performance: 5.61%

Average Trading Volume: 103,834

Technical Sentiment Signal: Sell

Current Market Cap: $66.13M

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