Loncor Reports Significant Gold Intercepts at its Flagship Adumbi Deposit
Loncor Resources Inc. is pleased to announce that the second core hole of a 7,000 metre drilling program at its Adumbi deposit has intersected significant gold intersections of 33.30 metres grading 3.25 gt gold and 10.45 metres grading 3.88 gt Au, at its 84.68% owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo . Mineralized sections are summarised in the … ● and 10.45 metres at 3.88 g/t Au
Loncor Resources Inc. (” Loncor ” or the ” Company “) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce that the second core hole of a 7,000 metre drilling program at its Adumbi deposit has intersected significant gold intersections of 33.30 metres grading 3.25 gt gold (including 5.70 metres grading 7.00 gt Au and 9.07 metres grading 5.11 gt Au) and 10.45 metres grading 3.88 gt Au, at its 84.68% owned Imbo Project in the
Despite a disappointing end to the week, the
S&P/ASX 200 Index (ASX: XJO) managed to record its seventh successive weekly gain last week. The benchmark index rose 0.5% to 6,675.5 points.
While a good number of shares climbed higher last week, some rose more than most.
Here’s why these were the best performers on the ASX 200 over the period:
The EML Payments share price was the best performer on the ASX 200 last week with a 13% gain. This was despite there being no news out of the payments company. However, a change of interests of substantial holder notice last week revealed that First Sentier Investors has been increasing its stake in the company. According to the notice, the fund manager has lifted its holding by almost 4 million shares to the equivalent of a 6.07% stake.
Project Level Funding Proposal for Major Exploration Campaign,
& Gold Portfolio Update
Kodal Minerals, the mineral exploration and development company focused on its Bougouni Lithium Project in southern Mali (the Bougouni Project or the Bougouni Lithium Project ) is pleased to announce the acquisition of the Fatou Gold Project in southern Mali ( Fatou or the Fatou Project ) (the Acquisition ). Fatou already has a historical compliant NI 43-101 Resource of over 350,000oz which is expected to increase based on a funded 9-month drilling programme.
In conjunction with the Acquisition, Kodal Minerals has received a subsidiary-level project funding proposal from AIM-quoted Riverfort Global Opportunities PLC and Riverfort Global Opportunities PCC (together, the Investors ) to provide up to US$2,500,000 to fund part of the Acquisition, implement a major exploration campaign at Fatou and fund exploration at the Company s additional gold projects in Mali and Côte d I
Why the Resolute Mining (ASX:RSG) share price is charging higher today
James Mickleboro | December 16, 2020 10:08am |
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Resolute Mining Limited(ASX: RSG) share price is charging higher.
At the time of writing, the gold miner’s shares are up 7.5% to 78 cents.
Why is the Resolute share price charging higher?
There have been a couple of catalysts for the solid rise in the Resolute share price on Wednesday.
The first is a rebound in the gold price overnight. According to CNBC, the price of the precious metal has risen 1.4% to US$1,857.50 an ounce. This was driven by optimism that major COVID stimulus is coming in the United States.
US$105 million in cash
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Highlights
· Resolute Mining Limited (Resolute or the Company) has entered into a binding agreement to sell the Bibiani Gold Mine in Ghana to Chifeng Jilong Gold Mining Co. Ltd (Chifeng).
· Cash consideration will be payable as follows:
· US$5 million deposit on signing the agreement; and
· US$100 million on completion, expected by March 2021 following satisfaction of government approvals and other conditions.
· Chifeng intends to progress the redevelopment of Bibiani as soon as is possible.
· Chifeng is an international gold mining company listed on the Shanghai Stock Exchange operating five mines, including the world class Sepon gold mine in Laos.