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Loncor promotes VP of business development John Barker to CEO

Published: 12:39 21 Sep 2021 EDT

Loncor Gold - Loncor promotes VP of business development John Barker to CEO
During the past 18 months, Loncor has increased the gold resource base at its Imbo Project, which includes its flagship Adumbi deposit, by more than 100%

Loncor Gold Inc said it has appointed its vice president of business development, John Barker, as its new CEO. Barker replaces founder and former CEO Arnold Kondrat, who becomes executive chairman of its board. 

The company said Barker has 17 years of experience as a leading mining equity analyst including a period as chairman of The Association of UK Mining Analysts. During the period, he worked for RBC DS, where as MD he headed up their London-based Global Gold Mining initiative, focussing on African mining equities. 

Subsequently, he was vice president of corporate development for TSX-listed SouthernEra Resources, which was taken over by Lonmin. In a similar role, he was a key participant in the Guinor Gold sale to Crew Gold. 

READ: Loncor Gold's latest holes at Adumbi deposit in DRC augur well for improving the resource

“During the past 18 months, Loncor has increased the gold resource base at its Imbo Project, which includes its flagship Adumbi deposit, by more than 100%, from 1.675 million ounces to 3.466 million ounces of gold,” Kondrat said in a statement.

“I look forward to continue working with John in his new role and with the team, which includes Peter Cowley who remains as president, as Loncor moves to the next important phase of its development.” 

Loncor said Barker has been involved in various copper, diamond and platinum corporate initiatives in Southern Africa including consulting for the globally recognised mining entrepreneur Robert Friedland. During his career, he has participated in numerous asset sales, public listings and equity issues, raising over US$600 million in Canada, Australia, Europe and South Africa.

“It’s a privilege to have been appointed CEO through arguably the most exciting period of Loncor’s history,” Barker said.

“Looking ahead, it will be key for the team to continue to expand the shareholder base while on the ground looking to release the inherent latent value we believe lies within the Loncor story.”

With the mining world searching for “high-quality” gold deposits, Loncor said it believes it is developing just such a project at Adumbi. Over the next few months, it said it will look to quantify Adumbi’s potential through the ongoing Preliminary Economic Assessment. Simultaneously, it will be drilling for significant contiguous underground resources to enhance Adumbi’s life and economics. Into 2022, it plans to assess and potentially develop numerous other exploration targets and initiatives on the Ngayu gold belt. 

“Given the expected news flow, we believe the future looks exciting for Loncor, and its shareholders,” Barker concluded.

Contact the author at stephen.gunnion@proactiveinvestors.com

Loncor Gold releases Preliminary Economic Assessment on Adumbi Gold Deposit

Loncor Gold CEO John Barker joined Steve Darling from Proactive to share news the company has announced the results of the Preliminary Economic Assessment for the Adumbi gold deposit in the Congo. Barker telling Proactive the PEA includes a Pre-tax NPV of US$895 million and post-tax NPV of...

on 15/12/21