Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – USA News Group News Commentary – Gold prices have continued their strong performance into 2025, recently stabilizing above $3,120 per ounce as of Wednesday. With gains now exceeding 18% year-to-date, the metal has not only broken records but also renewed interest across the mining sector. Analysts are raising their gold price forecasts, prompting a wave of revised valuations across mining coverage. In particular, gold miners with projects in Africa are seeing increased attention, as several operators report their strongest monthly performance to date. Among the names in the gold mining space making recent headlines are Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Rupert Resources Ltd. (TSX: RUP) (OTCQX: RUPRF), Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI), Eldorado Gold Corporation (NYSE: EGO) (TSX: ELD), and Perpetua Resources Corp. (NASDAQ: PPTA).
According to Barron’s, gold just capped off its best quarter since 1986. With Goldman Sachs recently lifting its gold forecast once again, both senior and junior mining stocks have started to gain traction with investors.
Lake Victoria Gold Ltd. Welcomes Richard Reynolds to Its Board of Directors in Connection with Taifa Group Strategic Partnership
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), an emerging East African gold developer, today announced the appointment of Richard Reynolds to its Board of Directors as part of its expanding strategic partnership with Taifa Group—Tanzania’s most influential mining contractor.
“We are excited to welcome Richard to the LVG Board,” said Marc Cernovitch, President & CEO of Lake Victoria Gold. “His appointment underscores the importance of our partnership with Taifa Group and reinforces our commitment to unlocking the full potential of our Tanzanian Gold Projects. Richard’s leadership in the African business sector, coupled with his expertise in infrastructure and project finance, makes him a key asset as we transition LVG from exploration company into a development one.”
Reynolds brings over three decades of experience across mining, infrastructure, and commercial development, with deep ties to East Africa and the UAE. As a senior advisor to the Chairman of Taifa Group and former CEO of Taifa Mining & Civils Ltd., he has played a key role in delivering large-scale mining projects throughout the region. His appointment reinforces the growing collaboration between LVG and Taifa, aligning strategic oversight and operational execution as the ImweloGold Mine advances toward production.
This news follows a series of developments that have rapidly repositioned Lake Victoria Gold. The company’s flagship Imwelo Project—fully permitted and backed by a 10-year mining license—is now under construction, with the ball mill already secured and first gold expected within 12 months. TaifaMining will act as the project’s contract miner, bringing decades of experience with major players such as Barrick, AngloGold Ashanti, and De Beers.
In addition to Imwelo, LVG holds 100% of the Tembo Project, located directly adjacent to Barrick’s 20-million-ounce Bulyanhulu Mine. With over 50,000 meters of historical drilling and high-grade intercepts across multiple targets, Tembo offers significant exploration upside alongside Imwelo’s development path.
With major partnerships in place, production on the horizon, and district-scale upside potential, Lake Victoria Gold is emerging as one of the most strategically positioned gold juniors in East Africa.
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:
Rupert Resources Ltd. (TSX: RUP) (OTCQX: RUPRF)recently closed a $28.45 million private placement to advance exploration and technical work at its projects in Finland, including its flagship Ikkari gold project. The financing included participation from major shareholder Agnico Eagle, which maintained a 14% stake.
The company also announced board changes, with two new independent directors and Agnico Eagle nominating a third, Carol Plummer, who formerly ran Agnico’s nearby Kittilä mine. With funding secured and a deeper bench in place, Rupert is positioned to move forward with studies and development work in Finland.
“We are pleased to welcome Kim Hagberg and Joanna Pearson to the Board,” said Gunnar Nilsson, Chairman of Rupert Resources. “Their combined expertise in project management, finance, and international operations will strengthen our ability to advance the Ikkari project and execute on our strategic plans.”
Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI) recently shared new results from exploration drilling at its Séguéla Gold Project in Côte d’Ivoire. The company continues to expand and upgrade resources at both the Kingfisher and Sunbird deposits, with several wide, high-grade intercepts reported.
“Exploration drilling at Kingfisher has moved to infilling and improving the resource confidence… with several notable intersections including 7.2 g/t Au over an estimated true width of 31.5 m in drill hole SGRC2278,” said Paul Weedon, SVP of Exploration for Fortuna. “At the Sunbird deposit, deep exploration drilling testing the southern extent has continued to return excellent results… representing the deepest intercept to date, with mineralisation remaining open at depth and down plunge.”
With mineralization still open along strike and at depth, both targets continue to support long-term resource growth. Fortuna plans to complete the current drill programs in Q2 2025, with follow-up drilling already underway.
Back in February, Eldorado Gold Corporation (NYSE: EGO) (TSX: ELD) provided a detailed update on its Skouries copper-gold project in northern Greece. While workforce shortages have pushed first production into Q1 2026, the company has adjusted plans to accelerate mining activities and gain early access to higher-grade ore.
“While we have revised the start-up and cost estimates, we remain confident in Skouries’ long-term value, highlighted by an initial 20-year mine life that is expected to have a transformational impact on our production and costs,” said George Burns, President and CEO of Eldorado.
Despite a $143 million increase in project capital costs, Eldorado says the project remains fully funded with over $1.1 billion in available liquidity. With Skouries expected to boost both gold and critical mineral output, the company is reinforcing its position as a multi-asset, multi-jurisdictional producer.
Also in late February, Perpetua Resources Corp. (NASDAQ: PPTA) launched detailed engineering studies and signed a procurement agreement with Idaho Power as it advances its fully permitted Stibnite Gold Project in Idaho toward a final construction decision. Backed by a $3.7 billion after-tax NPV at spot prices, the project combines gold production with the critical mineral antimony, which is essential for defense and energy applications.
“The Stibnite Gold Project is among an elite class of gold projects, with industry leading costs, a world-class reserve of 4.8 million gold ounces and annual production profile of approximately 300,000 ounces over a 15-year life,” said Jon Cherry, President & CEO of Perpetua Resources. “With the Final Record of Decision published and basic engineering complete, Perpetua looks forward to finalizing our few remaining ancillary permits, and securing financing to start construction in 2025 to become a reliable source of the critical mineral antimony for defense needs.”
Early-stage investments in power infrastructure are now underway, aligning with the company’s plan to begin construction later this year. With strong U.S. government support through EXIM Bank and one of the lowest AISC profiles in North America, Perpetua is positioning itself as a domestic supplier of both gold and strategic minerals.
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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