Loncor Gold Inc (TSX: LN) (OTCQX:LONCF) (FSE:LO51) shares rallied more than 15% on news that it has agreed to sell its non-core Makapela #gold property in the Democratic Republic of Congo (DRC) for C$13.5 million in cash. The sale provides it with significant non-dilutive capital to advance its flagship Adumbi gold deposit, also in the DRC, Loncor said in a statement. Under the agreement, Loncor will receive a series of progress payments beginning with a deposit of C$2 million. The balance will be paid upon completion of the transfer of title to Makapela, which is expected to occur before the end of February 2024. "Loncor has conducted a number of discussions with potential strategic partners over the last 18 months, many of which involved proposals that would have resulted in significant equity dilution," Loncor CEO John Barker said in a statement. More at #Proactive #ProactiveInvestors #TSX #OTCQX #LN #LONCF http://ow.ly/gtmf1055yzk
