Chengtun Mining to acquire Loncor Gold for CAD261m.

Chengtun Mining, a Chinese mining and metal refining company, offered to acquire Loncor Gold, a gold exploration and development company with a focus on the Democratic Republic of the Congo, for CAD261m. “I am pleased to announce that we have entered into an agreement for the sale of the Company, marking a significant achievement for all stakeholders. This Transaction crystallizes the inherent value we have built over 15 years and eliminates future dilution while mitigating commodity, political, and execution risks. The sale delivers a strong outcome for shareholders,” Arnold Kondrat, Loncor Executive Chairman.