Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – Gold’s recent move to all-time highs has prompted renewed optimism among analysts and institutional investors. Don Durrett, a long-time gold bull now supported by Eric Sprott, believes we’re at the edge of a “once-in-a-generation” bull market in gold mining stocks. Some forecasts including Durrett’s, model potential upside scenarios for gold reaching as high as US$4,000 per ounce. UBS, Deutsche Bank, and Goldman Sachs have all revised their forecasts, with both Goldman and Deutsche Bank calling for $3,700 gold, with some gold equities having already doubled this year. As bullish sentiment grows, key players are advancing their projects, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF), Dundee Precious Metals Inc. (TSX: DPM) (OTCPK: DPMLF), Equinox Gold Corp. (NYSE-American: EQX) (TSX: EQX), and Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF).
Gold’s rally isn’t just lifting the majors—junior exploration stocks are getting a boost too. As heavyweight miners see their share prices jump, smaller players are grabbing attention with strong drill results that could deliver outsized gains if gold keeps climbing.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is quietly progressing one of East Africa’s most intriguing new gold stories. Over the past twelve months, the company has cleared key regulatory hurdles, raised critical capital, and lined up a near-term path to production—all while holding long-term upside in one of the continent’s key gold regions.
The company’s highly promising Tembo Project sits next to Barrick’s massive Bulyanhulu Mine in Tanzania’s Lake Victoria Goldfield. A total of US$28 million in historical exploration has already been invested here, including over 50,000 meters of drilling, outlining several high-grade zones that remain open at depth and along strike. Historical intercepts have confirmed mineralized corridors at Ngula 1, Nyakagwe Village, and Nyakagwe East—all showing signs of scale and grade that could potentially drive future growth.
“We believe Tembo represents a rare opportunity to define a new gold camp in one of Tanzania’s most historically productive districts,” said Simon Benstead, Executive Chairman of Lake Victoria Gold. “With multiple exploration and development levers available to us, and a supportive regulatory environment, we’re committed to responsibly unlocking the full value of this high-potential asset.”
Importantly, in March 2025, Lake Victoria Gold completed the conversion of its Prospecting License at Tembo into four Mining Licenses—a significant de-risking milestone that grants the company the legal right to mine for the next 10 years, with renewal options. This breakthrough clears the way for development planning and potential fast-tracking of shallow, high-grade zones into potentially early-stage production scenarios.
"The approval of our Mining Licenses is a pivotal step forward for the Tembo Project,” said Marc Cernovitch, President & CEO of Lake Victoria Gold. “We have always believed in the district-scale potential of this asset. With tenure now secured for the next 10 years, we can focus on evaluating the most efficient development options to unlock maximum shareholder value.”
While Tembo may carry the long-term potential, the Imwelo Project may be first to cross the production line. In February, Lake Victoria Gold completed its acquisition of the Imwelo Mining License, a key step that brought the project under full control and opens the door to near-term production planning.
The Imwelo Project has already received Tanzanian Mining Commission approval as a mining operation and is positioned to serve as LVG’s potential near-term production asset. Production from Imwelo could generate early cash flow while the company ramps up Tembo for larger-scale development.
In parallel, LVG has been building out financial and strategic flexibility. In late 2024, the company signed a non-binding gold prepay term sheet for up to 7,000 ounces with Monetary Metals—a US based gold bank. Once all conditions precedent are met this gold loan could assist in financing construction costs.
Back when it acquired Imwelo, the deal came with a three-tranche investment option to invest further with TAIFA Group, headed by one of Tanzania’s wealthiest men. The first tranche was completed in late February, consisting of C$3.52 million, at a share price of C$0.22.
Through the TAIFA connection, LVG added Richard Reynolds, former CEO of Taifa Mining, to its board of directors, strengthening ties with regional stakeholders and adding operational depth at the board level.
Further upside may still come from the company’s 2021 deal with Barrick. In that transaction, LVG sold six non-core licenses adjacent to Tembo for $6 million upfront, with up to $45 million in contingent payments tied to discoveries. Barrick has since been actively drilling on that ground, with LVG retaining success-based upside without spending a cent.
Between a fast-tracked path to first gold at Imwelo, district-scale upside at Tembo, and a Barrick-adjacent land package still generating potential, Lake Victoria Gold has positioned itself as one of the more interesting junior gold developers operating in East Africa today.
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:
Soma Gold Corp. (TSXV: SOMA) (OTCQX: SMAGF) recently expanded its land package in Colombia to over 41,000 hectares by acquiring two new mining concessions along the OTU Fault, a major gold-bearing structure that runs through several significant regional operations.
“Ongoing drilling at the Colossa Mine indicates that the down-dip projection of the vein system extends to the northwest onto these new mining concessions,” said Chris Buchanan, Vice-President of Exploration for Soma. “Our exploration team is excited to follow the veins onto these licenses."
While a previous plan to source feed from Denarius Metals was dropped, Soma’s El Limon mill will now be supplied by its own producing mines and formalized operations on its property. The acquisition boosts Soma’s long-term exploration upside while supporting near-term production.
Contango Ore, Inc. (NYSE-American: CTGO) recently received $24 million in cash distributions from the Peak Gold JV so far in 2025, with a third payment expected following completion of the first processing campaign in late April.
“This higher-than-expected cash flow will be used to strengthen our cash position, reduce debt and fulfil our hedge contracts,” said Rick Van Nieuwenhuyse, President and CEO of Contango. “We continue to advance permitting activities and the preliminary economic assessment on the Johnson Tract project."
The JV processed 323,000 tons of ore during Campaign #1, yielding roughly 65,000 ounces of gold — including 19,500 ounces attributable to Contango. Higher-than-expected production and strong gold prices could push total 2025 cash distributions to $80 million, bolstering the company’s balance sheet and funding ongoing growth.
Lundin Gold Inc. (TSX: LUG) (OTCQX: LUGDF) recently reported Q1 2025 production of 117,313 ounces of gold at its Fruta del Norte mine, marking a solid increase over the previous year.
Ore grade came in higher than expected at 10.4 g/t Au, supporting strong recoveries of 88.5% and improved financial metrics.
"2025 is off to a strong start, marked by the successful completion of our Plant Expansion Project this quarter,” said Ron Hochstein, President and CEO of Lundin Gold. “Capitalizing on the downtime associated with the new equipment tie-ins, we proactively completed the relining of the SAG mill, as well as other maintenance that was originally scheduled in the second quarter, positioning us well for the remainder of the year."
The company completed its Plant Expansion Project ahead of schedule, along with major maintenance, setting the stage for operational momentum. With gold prices rising and mill optimization underway, Lundin anticipates sustained performance through the first half of the year.
Americas Gold and Silver Corporation (NYSE-American: USAS) (TSX: USA) is entering 2025 with new leadership, full ownership of its flagship Galena Complex, and a clear path toward production growth and lower costs. The company delivered $100.2M in revenue last year, consolidated its Idaho asset in a deal with Eric Sprott (now its largest shareholder), and is developing its high-grade EC120 silver-copper project in Mexico.
With higher silver prices, mine upgrades underway, and a new strategy led by CEO Paul Huet, management says 2025 will be a transformational year for Americas Gold and Silver Corporation.
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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