An undisclosed buyer entered into an agreement to acquire Non-Core Makapela Property from Loncor Gold Inc. (TSX:LN) for CAD 13.5 million on December 13, 2023. The consideration consists of CAD 13.50 million in cash. The agreement calls for the sale price to be paid in a series of progress payments beginning with a deposit of CAD 2 million.

The balance of the progress payments, totaling CAD 11.5 million, will be paid upon completion of the transfer of title to Makapela, which is expected to occur before the end of February 2024.