Company DescriptionLoncor Gold Inc., a gold exploration company, engages in the acquisition, exploration, and development of precious metal projects in the Ngayu greenstone belt in the northeast of the Democratic Republic of the Congo. It also explores for platinum deposits. The company holds 84.68% interest in the Adumbi project, which consists of 6 mining leases covering an area of 361 square kilometers located within the Archaean Ngayu Greenstone Belt in the Ituri and Haut Uele provinces in northeastern Congo. It also holds 100% interest in the Isiro properties that consist of 11 exploration permits covering an area of 1,884 square kilometers situated in the province of Haut Uele, in northeastern Congo. In addition, Loncor Gold Inc. owns interest in North Kivu, Ngayu, Devon, Navarro, Makapela, and Yindi projects. The company was formerly known as Loncor Resources Inc. and changed its name to Loncor Gold Inc. in June 2021. Loncor Gold Inc. is headquartered in Toronto, Canada.

How the Company Makes Money

Loncor Gold Financial Statement Overview

Summary

Loncor Gold faces significant financial challenges with no revenue, increasing losses, and negative cash flows, impacting its profitability and sustainability. Despite a low debt-to-equity ratio, declining assets and equity suggest weakening financial stability.

Income Statement

Very Negative

Loncor Gold reported no revenue across multiple periods, with increasing losses as indicated by negative EBIT and net income. This highlights significant financial challenges and inefficiencies in operations or market conditions, reflecting poor profitability and growth trajectory.

Balance Sheet

Negative

The company maintains a relatively low level of total debt compared to equity, indicating low financial leverage, which is generally positive. However, the consistent decline in total assets and equity over time could indicate a weakening financial position. The company’s equity ratio remains favorable, suggesting some level of financial stability despite the negative trends.

Cash Flow

Negative

Negative operating cash flows and free cash flow indicate cash outflows exceeding inflows, highlighting liquidity concerns. The company's reliance on financing activities to support operations is unsustainable in the long term, reflecting potential cash flow instability.

TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Breakdown
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-82.99K	0.00	-151.36K	-175.07K	-185.35K	-196.69K
	EBIT
-4.17M	-2.22M	-2.81M	-3.28M	-2.19M	-1.57M
	EBITDA
-3.93M	-2.29M	-2.66M	-3.11M	-2.01M	-1.37M
	Net Income Common Stockholders
-4.16M	-21.27M	-3.04M	-3.76M	-2.28M	-1.80M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
77.70K	639.68K	182.18K	154.15K	256.62K	77.70K
	Total Assets
29.67M	24.37M	42.89M	40.33M	32.67M	29.67M
	Total Debt
1.57M	332.87K	335.66K	166.29K	386.39K	618.46K
	Net Debt
1.49M	-306.81K	153.48K	12.13K	129.77K	540.76K
	Total Liabilities
2.39M	2.80M	1.70M	1.99M	1.79M	2.39M
	Stockholders Equity
27.29M	21.57M	41.19M	38.33M	30.88M	27.29M
Cash Flow		Free Cash Flow
-1.09M	-2.56M	-5.24M	-9.66M	-4.20M	-1.11M
	Operating Cash Flow
-3.01M	-2.56M	-2.87M	-1.65M	-1.41M	-878.42K
	Investing Cash Flow
4.00M	1.71M	-2.37M	-8.02M	-2.94M	-324.61K
	Financing Cash Flow
-127.26K	1.31M	5.26M	9.56M	4.52M	629.83K

Loncor Gold Risk Analysis

Loncor Gold disclosed 29 risk factors in its most recent earnings report. Loncor Gold reported the most risks in the “Finance & Corporate” category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

Loncor Gold Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LONCF		$73.97M	―	-22.65%	―	―	―
XTG	61 Neutral	C$93.73M	28.53	21.41%	―	―	-55.15%
Sector *	51 Neutral	$2.02B	-1.14	-21.37%	3.64%	2.88%	-30.57%
LME	45 Neutral	C$82.05M	―	-36.90%	―	―	8.40%
LIO	41 Neutral	C$95.28M	―	-8.48%	―	3111.09%	-120.48%
ELO	36 Underperform	C$109.02M	―	-17.56%	―	―	13.39%
CBGZF		$83.52M	―	-128.21%	―	―	―

* Basic Materials Sector Average

Performance Comparison

LONCF

Loncor Gold

0.42

0.10

31.25%

TSE:ELO

Eloro Resources

1.16

-0.30

-20.55%

TSE:LIO

Lion One Metals

0.32

-0.20

-38.46%

TSE:LME

Laurion Mineral Exploration

0.30

-0.10

-25.00%

TSE:XTG

Xtra-Gold Resource

2.04

0.66

47.83%

CBGZF

Cabral Gold

0.34

0.11

47.83%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

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