Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – As markets continue to reel from inflation shocks and global trade uncertainty, gold stocks are bucking the trend—many now showing strength amid the tariff-fueled volatility. Analysts argue that despite recent gains, gold equities remain undervalued, with economist Peter Schiff among those suggesting the sector could be entering a new era of outperformance. Several miners have been making headlines with key developments, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Integra Resources Corp. (NYSE-American: ITRG) (TSXV: ITR), Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF), International Tower Hill Mines Ltd. (NYSE-American: THM) (TSX: ITH), and Aris Mining Corporation (NYSE-American: ARMN) (TSX: ARIS).
Gold itself is in the midst of a historic rally. Barron’s recently called the metal a “light in the investment darkness,” noting strong demand across both institutional and individual buyers. Goldman Sachs analysts now project gold could break through US$3,700/oz by year’s end—and potentially climb as high as $4,000/oz by mid-2026.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) announced today that it’s evaluating a small-scale development opportunity aimed at generating early cash flow at its flagship Tembo Project in Tanzania to support its broader exploration strategy, following the recent conversion of its Prospecting License into four Mining Licenses (MLs). Through its local subsidiary MIPCCL, the company is in discussions to form a joint venture with the operator of a privately commissioned CIP processing facility situated within one of Tembo’s 4 MLs.
“This potential partnership could represent a unique opportunity to establish early, low-capital-cost production from Tembo while continuing to unlock the district’s exploration upside,” said Marc Cernovitch, President and CEO of Lake Victoria Gold. “We remain committed to advancing Tembo through both strategic exploration and disciplined project development.”
This initiative is at a preliminary, conceptual stage and is not based on a current mineral resource estimate, nor is it supported by a Feasibility Study that would demonstrate economic or technical viability. Any potential development remains highly speculative and subject to significant technical and economic uncertainties, including grade continuity, metallurgy, permitting, and financing.
“Tembo has always stood out as a project with the potential to deliver both near-term value and long-term discovery upside,” said Simon Benstead, Chairman and CFO of Lake Victoria Gold. “Evaluating this small-scale development opportunity allows us to test the system, generate operational insights, and potentially self-fund ongoing exploration. We believe this approach aligns well with our disciplined strategy and our commitment to responsible, phased development in Tanzania.”
Over the past year, LVG has made steady progress advancing its dual-asset strategy in the Lake Victoria Goldfield, one of East Africa’s most prospective and historically productive gold regions. The company believes it now has many of the key regulatory, financial, and operational components in place to support a transition from exploration toward phased development—creating both near- and long-term opportunities.
Tembo remains the company’s long-range flagship. Located immediately adjacent to Barrick Gold’s Bulyanhulu Mine, the 100%-owned project has seen over US$28 million in historical exploration investment, including more than 50,000 meters of drilling.
Results from targets like Ngula 1, Nyakagwe Village, and Nyakagwe East have identified multiple mineralized structures with high-grade gold intercepts, many of which remain open along strike and at depth. The company is now updating its view of the near-surface potential across those zones in light of its new mining licenses and improving local infrastructure.
While Tembo may be the larger prize, the Imwelo Project is likely to lead development. LVG acquired full control of Imwelo earlier this year, and the project already holds a valid Mining License and permits from the Government of Tanzania to move towards development.
Located west of AngloGold Ashanti’s Geita Gold Mine, Imwelo was previously the subject of an updated pre-feasibility study in 2021 and is now positioned as the company’s near-term development candidate. Early-stage development from Imwelo, if successfully advanced, could support ongoing work at Tembo while establishing a local operating presence.
Financially, LVG continues to pursue multiple avenues of support. In late 2024, the company signed a non-binding gold prepay term sheet with Monetary Metals—a U.S.-based gold finance firm—for up to 7,000 ounces of gold, subject to conditions precedent. Based on prevailing gold prices, that facility could potentially provide upwards of US$20 million in non-dilutive capital for construction costs.
In addition, LVG completed the first tranche of a three-stage strategic investment agreement with Taifa Group, Tanzania’s largest mining contractor. The initial C$3.52 million tranche closed in February at a share price of C$0.22.
As part of that relationship, Richard Reynolds, former CEO of Taifa Mining, was appointed to the company’s board—adding regional and operational depth at the governance level.
LVG also retains exposure to future upside through its 2021 deal with Barrick, which saw the company sell six non-core licenses adjacent to Tembo for US$6 million upfront, with up to US$45 million in contingent milestone payments tied to future discoveries. Barrick has been actively drilling on the package since, while LVG retains a back-end interest with no further capital outlay.
With early-stage development potential at Tembo, near-term development at Imwelo, and continued exposure to upside through its Barrick deal, Lake Victoria Gold is increasingly well-positioned within the East African junior gold sector.
CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
In other industry developments and happenings in the market include:
Integra Resources Corp. (NYSE-American: ITRG) (TSXV: ITR) recently delivered a strong first quarter at the Florida Canyon Mine, producing 19,323 ounces of gold and selling 19,540 ounces—exceeding internal forecasts. The results were boosted by a one-time recovery of 2,000 ounces from an electrowinning tank and continued improvements from late-2024 circuit upgrades.
The company placed nearly 3 million tonnes of ore on the pad and achieved a gold recovery rate of 60.4%. Integra closed the quarter with $61.1 million in cash and $68.3 million in working capital, with full financials expected May 14.
Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) recently agreed to be acquired by Chinese company CMOC in a fully financed, all-cash transaction worth roughly C$581 million, offering shareholders C$1.27 per share—an approximate 71% premium to the stock’s 20-day VWAP.
“After advancing the Cangrejos project for over ten years and taking it from no defined resources to being poised to be one of the largest gold projects globally, the Lumina Group is excited for the transition of the Cangrejos project to CMOC,” said Marshall Koval CEO of Lumina. “We look forward to working with CMOC and all existing stakeholders to ensure the successful future development of the project.”
The deal has already secured voting support from over half of Lumina’s shareholders and includes customary closing conditions, with completion targeted for Q3 2025. A concurrent US$20 million unsecured convertible note will fund project advancement ahead of closing. Upon completion, Lumina will be de-listed from the TSXV, and Cangrejos will become a core development asset under CMOC.
International Tower Hill Mines Ltd. (NYSE-American: THM) (TSX: ITH) recently outlined a US$3.7 million budget for its 2025 work program at the Livengood Gold Project in Alaska. The program will initiate metallurgical work on stibnite-antimony mineralization, expand hydrology and waste characterization studies for permitting, and continue community engagement efforts.
The company also filed its audited 2024 year-end financials and completed a US$3.9 million private placement earlier in March. The placement was backed by existing major shareholders and priced at US$0.4801 per share.
Aris Mining Corporation (NYSE-American: ARMN) (TSX: ARIS) recently reported gold production of 54,763 ounces in Q1 2025, up 8% year-over-year, led by contributions from the Segovia and Marmato operations. The company noted strong operating momentum and remains on track to commission its expanded Segovia processing facility in the second quarter.
“We kicked off 2025 with strong momentum, highlighting our ability to effectively execute while advancing major growth initiatives,” said Neil Woodyer, CEO of Aris Mining. “Q1 production came in slightly ahead of our budget target reflecting a solid operational start to the year. With the expanded Segovia processing facility set to be commissioned this quarter, we are well on track to deliver on our full-year production guidance of 230,000 to 275,000 oz.”
Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
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