Loncor Gold Secures Court Approval for Acquisition by Chengtun Mining

An announcement from Loncor Gold ( (TSE:LN) ) is now available.

Loncor Gold Inc. has received final court approval for its arrangement with Chengtun Mining, allowing Chengtun’s subsidiary to acquire all outstanding shares of Loncor. This development is a significant step for Loncor, potentially enhancing its strategic positioning within the gold exploration industry and aligning with Chengtun’s focus on expanding its precious metals portfolio. The arrangement’s completion is still subject to remaining conditions, and further updates will be provided as they become available.

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. 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 significant experience operating in the DRC and is primarily engaged in developing its resource base in the Ngayu Belt, particularly the Imbo Project, which includes the Adumbi deposit with substantial indicated and inferred mineral resources.

Average Trading Volume: 594,305

Technical Sentiment Signal: Buy

Current Market Cap: C$245M

For detailed information about LN stock, go to TipRanks’ Stock Analysis page.