Loncor

What Loncor does

Loncor Gold Inc. is a gold exploration and development company historically focused on the Ngayu Belt in the Democratic Republic of the Congo (DRC). Founded in 1993 and headquartered in Toronto, Canada, the company's core asset base comprises three identified gold deposits — Imbo, Makapela, and Adumbi — where it has conducted systematic drilling programs to delineate mineral resources and evaluate both open-pit and underground mining scenarios. Loncor was previously publicly listed on the TSX (ticker: LN), the Frankfurt Stock Exchange, and OTCQX, distributing equity to institutional and retail investors through these channels alongside recurring private placements.

The company's underlying activity is mineral exploration through drilling, geological interpretation, and resource estimation aligned with NI 43-101 disclosure standards. In 2025, Loncor reported multiple high-grade gold intersections at its Adumbi deposit, including thick mineralized Banded Ironstone Formation intersections at depth, supporting the potential for underground mining operations below the existing open-pit shell. The company's revenue model is structured around eventual gold production and sales at prevailing market prices, with no product software, licensing, or services revenue streams, and no disclosed traditional product pricing.

As an exploration-stage company without commercial production, Loncor historically funded operations through repeated brokered and non-brokered private placements — including rounds of C$2.75M (Feb 2022), C$3.375M (Jun 2022), C$1.6M (Mar 2023), and C$9.4M (Feb 2026) — and reported negative EBITDA, operating income, and net income across 2020–2024, consistent with pre-production exploration burn. In February 2026, Loncor completed a C$267 million going-private transaction with Chengtun Gold Ontario Inc., an affiliate of Shanghai Stock Exchange-listed Chengtun Mining Group Co., Ltd., at C$1.38 per share. Following the acquisition, Loncor was delisted from all public exchanges and ceased to be a Canadian reporting issuer, becoming a wholly owned subsidiary of Chengtun. As part of the arrangement, Loncor also divested its approximate 60.23% stake in KGL Resources Ltd. for C$620,000.

Name

Loncor

Legal name

Loncor Gold Inc.

Website

https://loncor.com

Company type

Private

Founded year

1993

Operating status

Acquired

Headcount range

11–50 employees

Short description

Loncor Gold Inc. is a Toronto-based gold exploration and development company focused on the Ngayu Belt in the Democratic Republic of the Congo, holding the Imbo, Makapela, and Adumbi gold deposits. Acquired by Chengtun Mining Group in February 2026 for C$267 million in a going-private transaction.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (212220), Support Activities for Metal Mining (213114)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)

Keywords

• Gold exploration
• Precious metals mining
• Mineral resource development
• Gold deposit drilling
• DRC mining operations

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Gold Production and Sales: Revenue generated from gold extraction and sales from mining operations in the DRC, including Imbo, Makapela, and Adumbi deposits.

Distribution channels2 records

Marketing channels2 records

Core offering

Loncor Gold Inc. is a gold exploration and development company that advances a portfolio of gold deposits on the Ngayu Belt in the Democratic Republic of the Congo. The company conducts drilling programs and resource estimation work on its Imbo, Makapela, and Adumbi deposits to define mineral resources and evaluate open-pit and underground mining potential. Following its February 2026 acquisition by Chengtun Mining Group, it now operates as a privately held subsidiary advancing these gold projects.

Product overview

Loncor Gold Inc. is a gold exploration and development company focused on advancing its portfolio of gold deposits in the Democratic Republic of the Congo. The company's exploration projects include the Imbo, Makapela, and Adumbi gold deposits, with significant mineral resources identified at these locations. The company has been conducting drilling programs to expand resource estimates and evaluate the potential for both open-pit and underground mining operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Imbo Gold Deposit
• Makapela Gold Deposit
• Adumbi Gold Deposit

Quantifiable outcome

• Multiple high-grade gold intersections reported from Adumbi drill program supporting underground mining potential
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• KGL Resources Ltd.minorOthers · 10 February 2026Loncor disposed of 8,857,142 common shares of KGL Resources Ltd. representing approximately 60.23% of KGL's issued and outstanding shares. The transaction valued at Cdn$620,000 was part of a divestiture connected to the plan of arrangement providing for Chengtun's acquisition of Loncor.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Barrick Gold Corporation: Operates the Kibali gold mine in the DRC's Haut-Uele province, directly comparable as a major gold producer on the same geological belts where Loncor's Ngayu Belt projects sit, sharing DRC country risk and operating conditions.
• Endeavour Mining: West Africa-focused mid-tier gold producer with multiple operating mines; comparable to Loncor as an African-focused gold miner targeting multi-deposit portfolios and pursuing growth through resource conversion.
• B2Gold Corp. Mid-tier gold producer with operating mines in Africa (Mali, Namibia) and a development pipeline; comparable business model of advancing African gold deposits from exploration to production.
• Perseus Mining: African gold producer operating mines in Ghana and Côte d'Ivoire with a growth pipeline of development projects; comparable as an Africa-focused gold miner scaling multi-asset portfolios.
• IAMGOLD Corporation: Mid-tier gold producer with West African (Essakane, Burkina Faso) operations and development-stage African assets; comparable as a Toronto-listed gold miner advancing African resource projects.
• Kilo Goldmines: DRC-focused gold exploration company with projects adjacent to the Ngayu Belt; highly comparable as a junior explorer sharing Loncor's jurisdiction, geology, and pre-revenue exploration-stage profile.

Broad incumbents

• AngloGold Ashanti: Global gold major with operations across Africa (including DRC through Kibali joint venture) and a development pipeline; broader portfolio but directly comparable on African gold exposure and technical capability.
• Newmont Corporation: World's largest gold miner with a global portfolio including African assets (Ahafo, Akyem); comparable as a major gold producer whose valuation and capex decisions are influenced by African gold resource quality.
• Kinross Gold Corporation: Senior gold producer with African assets (Tasiast in Mauritania) and a development pipeline; comparable as a global gold incumbent evaluating African resource conversion projects.

Others

• Chengtun Mining Group: Shanghai-listed parent of Loncor post-acquisition; energy-metals-focused Chinese miner providing capital, refining capacity, and offtake infrastructure, now the controlling shareholder of Loncor's gold portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/Loncorresources
• LinkedInlinkedin.com/company/loncor-resources-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds9 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Loncor