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Loncor Gold ( (TSE:LN) ) has issued an announcement.
Loncor Gold has completed a going-private transaction under which Chengtun Gold Ontario, an affiliate of China’s Chengtun Mining Group, acquired all outstanding Loncor shares at C$1.38 per share. As a result, Loncor’s stock will be delisted from the Toronto and Frankfurt exchanges, removed from OTCQX quotation, and the company has moved to cease being a reporting issuer in Canada, effectively shifting control of its Congolese gold exploration assets into the hands of a strategic mining player with an established DRC footprint.
Following the transaction, Chengtun now owns 183,660,846 Loncor shares, representing 100% of the company’s equity, and Loncor’s board has been reconstituted with the resignation of previous directors and the election of Shing Yip Iu. The deal consolidates Chengtun’s position in the DRC’s resource sector and underscores growing Chinese interest in both energy metals and gold, with implications for Loncor’s future development strategy and for stakeholders tracking foreign investment in African mining assets.
The most recent analyst rating on (TSE:LN) stock is a Hold with a C$1.50 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 Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses and cash burn), partly offset by low leverage. Technicals are supportive with price above major moving averages and positive momentum. Corporate events are a meaningful positive due to the advancing acquisition process and strong drill results, while valuation support is limited because earnings are negative and no dividend yield is provided.
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 Belt in northeastern Democratic Republic of the Congo, with its main resource base centered on the Imbo Project. Chengtun Mining Group Co., a Shanghai-listed miner specializing in energy and base metals such as copper, cobalt and nickel, has identified gold and other precious metals as a key strategic growth area and operates assets in the DRC, including the Kalongwe copper-cobalt mine.
Average Trading Volume: 299,665
Technical Sentiment Signal: Buy
Current Market Cap: C$241.4M
For an in-depth examination of LN stock, go to TipRanks’ Overview page.