Chengtun Mining Acquires Loncor Gold
Loncor Gold and Chengtun Mining Group have entered into an arrangement agreement, where Chengtun Mining will acquire all outstanding common shares of Loncor through its subsidiary Chengtun Gold Ontario.
The acquisition price is set at C$1.38 ($0.98) per share, reflecting a total equity value of around C$261m on a fully diluted basis.Significance of the Acquisition
This acquisition marks a significant investment by Chengtun in the Democratic Republic of Congo (DRC).
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Author's summary: Chengtun Mining acquires Loncor Gold for C$261m.
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