Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – The market continues to gauge how the ongoing trade negotiations between the USA and China are going, and their impact on the US dollar and on gold. What’s more interesting is how the market is achieving a rare sentiment where gold and stocks are both chasing record highs at the same time. As gold prices continue to consolidate higher than $3,300/oz, commodity analysts at Société Générale stated in their latest note that a bullish perfect storm is brewing in the gold market. Analysts are calling for a mining equities breakout, causing several gold stocks to attract more attention, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Barrick Mining Corporation (NYSE: B) (TSX: ABX), Northern Superior Resources Inc. (TSXV: SUP) (OTCQX: NSUPF), Soma Gold Corp. (TSXV: SOMA) (OTCQX: SMAGF), and AngloGold Ashanti plc (NYSE: AU).
State Street Global Advisors states that gold will continue to make sense for investors for its attributes and potential, while analysts at Jefferies still think things are out of balance, pointing to a historic valuation gap, with many gold equities still priced as if bullion were stuck at $2,500 an ounce.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is advancing a carefully staged gold development strategy in Tanzania’s Lake Victoria Goldfields, one of East Africa’s most prospective mining regions. The company is currently progressing multiple project catalysts across its portfolio, including a planned 3,000-meter RC drill program at the Tembo Project and pre-development work at the fully permitted Imwelo gold mine.
In the background, a milestone-driven asset agreement with Barrick Mining Corporation’s (NYSE: B) (TSX: ABX) Bulyanhulu (Buly) joint venture is quietly building shareholder exposure to potential long-term upside. Barrick and its partner (the Government of Tanzania) have now completed over 33,200 meters of drilling across six non-core licenses acquired from LVG in 2021—having already spent more than US$5.56 million out of a US$9 million commitment. This is all part of Buly’s commitment that was made as part of the Asset Purchase Agreement (APA) signed in December 2021, under which Buly acquired six non-core prospecting licenses from LVG. In addition to the US$6M upfront consideration received, LVG retains exposure to future exploration success through contingent payments of up to US$45 million tied to gold discoveries on the Project.
“While Buly’s exploration work provides valuable long-term upside, our immediate focus is on advancing Tembo and Imwelo toward production in 2025 & 2026 respectively,” said Marc Cernovitch, President and CEO of Lake Victoria Gold. “These are high-conviction assets under our direct control, and we’re committed to delivering near-term cash flow and operational milestones.”
Q1 2025 exploration work included focused diamond drilling to refine the geological model, with results confirming high-potential shear-hosted and quartz–sulfide structures. These features are geologically consistent with the nearby Bulyanhulu deposits and, notably, align with mineralized corridors mapped across LVG’s flagship Tembo ground.
“What excites us is the emerging alignment between Buly’s recent drill results and the structural framework we are seeing throughout our Tembo Project,” said David Scott, Pr. Sci. Nat., Director of Lake Victoria Gold. “These are the kinds of environments where significant gold systems are formed, and they remain largely untested across much of the property.”
Tembo remains the central focus of LVG’s 2025 fieldwork. Within the broader project, the planned drill campaign at Ngula 1 is targeting near-surface gold zones with potential for toll milling at a nearby third-party facility. Historical intercepts at Ngula 1 include 28.57 g/t gold over 3 meters from 54 meters and 17.23 g/t over 4 meters from 19 meters—figures that provide a strong basis for the current 45-hole RC program. By focusing on shallow targets first, LVG is aiming to establish early development optionality while advancing structural understanding of a district-scale system.
“At Tembo, we believe the project holds district-scale discovery potential—supported by its geological continuity with Bulyanhulu and over 50,000 metres of historical drilling,” said Cernovitch. “The Barrick APA adds further optionality, giving shareholders meaningful exposure to new discoveries without diverting capital or management attention.”
To support that near-term pathway, Lake Victoria Gold has signed a non-binding LOI with Nyati Resources for potential toll milling at Nyati’s nearby 120-tpd processing plant. A new 500-tpd facility is expected to come online in the months ahead. Third-party firm Nesch Mintech Tanzania has been brought in to assess the plant’s performance and technical readiness, and to help outline any modifications needed to support production.
“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, Executive Director 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.”
While the Tembo Project continues to build momentum, Lake Victoria Gold’s most advanced development-stage asset remains Imwelo—a fully permitted gold project located near AngloGold Ashanti plc’s (NYSE: AU) Geita Mine.
Backed by a 2021 Pre-Feasibility Study and existing mining licenses, Imwelo is positioned for phased development. A recently announced strategic partnership with Taifa Mining, Tanzania’s largest mining contractor, further de-risks the project. Taifa will serve as lead contractor for mining and civil works, while its parent company, Taifa Group, has committed C$3.52 million as part of an equity investment.
Imwelo and Tembo are supported by a growing financial platform that aims to reduce reliance on equity dilution. The company has a gold prepay term sheet with Monetary Metals tied to up to 7,000 ounces of future production. Together with the multi-stage Taifa financing package, these agreements give Lake Victoria Gold the tools to execute its modular development strategy with flexibility and capital discipline.
With drill rigs active at Ngula 1, plant assessments underway, and exploration spending accelerating in the district, Lake Victoria Gold is transitioning from explorer to builder. Its model blends low-capex production targets with optionality-driven upside—offering investors exposure to near-term catalysts and long-term discoveries in one of Africa’s most productive gold belts.
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:
Barrick Mining Corporation (NYSE: B) (TSX: ABX) is opposing the Malian government’s attempt to take control of day-to-day operations at its Loulo-Gounkoto complex, calling the move unlawful and unsupported by Malian law or existing agreements.
Despite suspended operations and blocked exports, Barrick continues to support its workforce and has initiated international arbitration while seeking a resolution that respects due process and investor rights.
Northern Superior Resources Inc. (TSXV: SUP) (OTCQX: NSUPF) recently reported additional high-grade intercepts from its 20,000-metre expansion drill campaign at the Philibert Project, including 21.6 metres of 4.82 g/t gold and 22.2 metres of 2.09 g/t gold.
"Discovering high-grade mineralization with strong continuity and scale is always meaningful—but finding it directly beneath an open-pit resource adds significant strategic value," said Simon Marcotte, President and CEO of Northern Superior. "It opens the door to a phased development approach, potentially improving project economics and strengthening the long-term outlook."
The results define a new discovery zone extending over 200 metres of strike and more than 150 metres vertically, directly beneath the current open-pit resource. Management believes the zone may support a phased development model with improved economics and long-term growth potential.
Soma Gold Corp. (TSXV: SOMA) (OTCQX: SMAGF) posted its strongest quarterly performance to date, with Q1 2025 revenue of $27.9 million and net income of $3.2 million versus a loss last year. Adjusted EBITDA more than doubled to $13.5 million, and average realized cash margins rose to US$1,642 per ounce. Though gold production was down slightly from the prior year, operating income jumped to $9.8 million as the company improved cost efficiency.
"The Company is pleased with the significant progress made in achieving record profitability," said Geoff Hampson, CEO and President of Soma Gold. "Our organic growth strategy remains on track, with the planned re-commissioning of the el Limon mill scheduled for June of this year."
Soma expects a second-half production increase with the upcoming restart of its el Limon mill and continued development at el Limon, Psyche 1, and Nechi.
Cardero Argentina S.A., a wholly owned subsidiary of Latin Metals Inc., has received regulatory approval to conduct advanced exploration activities at the Organullo Gold Project in Salta Province, Argentina. The permit authorizes up to 11,900 metres of diamond drilling, which AngloGold Argentina Exploraciones S.A. — a subsidiary of AngloGold Ashanti plc (NYSE: AU) — is preparing to carry out under its option agreement with Latin Metals.
"Issuance of this permit is a key milestone for the project as AngloGold Ashanti prepares to test targets that have potential scale and alteration characteristics consistent with Tier 1 high-sulphidation epithermal gold systems," said Keith Henderson, President and CEO of Latin Metals Inc. "AngloGold Ashanti will move to complete preparations for the start of drilling to meet terms outlined within the approved EIA, including communities, society and environmental obligations; safety and operational logistics."
The Organullo property exhibits alteration features consistent with high-sulphidation epithermal systems and represents a compelling exploration target within AngloGold’s Latin America portfolio.
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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