Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – Gold is back holding firmly above $4,200 per ounce[1], after surging more than 60% this year to reach record highs. This sustained strength has triggered explosive gains in mining equities, with major producers delivering returns exceeding 125%[2] as expanding profit margins reach historic levels at a time when production costs remain relatively stable[3]. This operational leverage is creating outsized returns for mining companies positioned to capitalize on the precious metal's momentum, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF), First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF), Vista Gold Corp. (NYSE-American: VGZ) (TSX: VGZ), and P2 Gold Inc. (TSXV: PGLD) (OTCQB: PGLDF).
Wall Street's leading institutions continue raising their forecasts, with Goldman Sachs projecting $4,900 per ounce by December 2026 while Bank of America targets a range between $4,000 and $5,000[4]. With gold miners now generating free cash flow margins approaching 50% and earnings growth outpacing share price appreciation, the sector's current valuation levels suggest significant upside potential for investors positioning ahead of what analysts characterize as a structural revaluation of the precious metals complex.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is positioning itself as Tanzania's next gold producer with its fully permitted Imwelo Gold Project in the Geita Greenstone Belt, one of the country's most productive gold regions. The company has announced the mobilization of a second drill rig to fast-track completion of a 4,000-metre drilling program at Area C, the highest-grade zone identified at the project and the designated starter pit.
The first three holes of the program are now complete, with the first two submitted for assay and results anticipated in the coming days. Adding a second multipurpose rig enables LVG to maintain continuous drilling results through November and December as the company refines final pit design and advances production readiness. The expanded program is targeted for completion by mid-December 2025.
"Momentum continues to build at Imwelo," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "We've completed three holes with assays pending on the first two, and with a second rig now on site, we're moving quickly to deliver continuous results through November and December as we refine the final pit design and advance toward production readiness."
The drilling campaign at Area C is structured to achieve several pre-construction objectives, including definitive pit design with engineering inputs, upgrading classification of historical gold resources, testing for extensions beyond mapped zones, developing operational mining schedules, and refining gold recovery optimization strategies.
"Drilling at Area C is progressing well, and we're very encouraged by what we're seeing in the core to date," said Hendrick Mering, Exploration Manager for Lake Victoria Gold. "The first three holes have intersected multiple zones of quartz veining and alteration consistent with our modeled mineralized horizons."
The initial hole extended deeper than previous drilling, testing Area C mineralization at approximately 120 metres depth along the western edge of the zone. Historical assays from this area include 6.8 metres at 14.6 g/t gold at 32m and 2.0 metres at 7.5 g/t from 22m, demonstrating production-grade gold potential at surface.
The drilling acceleration comes on the heels of two significant regulatory achievements. Lake Victoria Gold recently reached an agreement in principle with the Government of Tanzania regarding the statutory minimum 16% free carried interest framework. Additionally, the company secured environmental approval of its Updated Environmental and Social Management Plan, removing regulatory barriers to construction advancement.
Imwelo is situated just 12 kilometers from AngloGold Ashanti's flagship Geita mine and holds a 10-year renewable mining license. With metallurgical recoveries exceeding 90%, the company is targeting first gold production within 12 months of construction commencement.
On the financing front, momentum accelerated through the closing of an oversubscribed $6 million financing in September, immediately followed by a concurrent $2 million private placement. The combined capital supports work programs designed to activate the pre-paid forward purchase facility with Monetary Metals, pursuing non-dilutive construction financing.
The company's Tembo Project provides additional optionality through a planned 3,000m drilling program at Ngula 1, where historical intercepts of 28.57 g/t gold over 3 metres indicate immediate toll milling potential. LVG maintains exposure to up to US$45 million in contingent milestone payments from the 2021 asset sale to Barrick's Bulyanhulu operation. With gold recently surpassing $4,300 per ounce for the first time in October, Lake Victoria Gold is developing a fully permitted project in one of Africa's premier gold districts at a time when high-grade ounces command exceptional value.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
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:
Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) has intersected multiple gold zones approximately 700 meters below its Wenot Gold Deposit in Guyana, with highlights including 5.12 grams per tonne gold over 3.6 meters and 2.57 grams per tonne over 8.6 meters. The deep drill hole proved the Wenot Shear Corridor continues at significant depth and hosts multiple gold zones similar to the deposit above.
"These are very significant results," said Elaine Ellingham, President and CEO of Omai Gold. "This single deep hole not only proved that the prominent Wenot Shear Corridor that hosts the large Wenot deposit continues at depth, but that it also hosts multiple gold zones. This apparent down dip extension of the Wenot gold deposit is at least 700m below the previously deepest-known mineralization at Wenot. Although it will not be integrated into a near-term resource estimate, it suggests a doubling of the scale of the overall size potential of Wenot."
The discovery extends the Wenot system approximately 700 meters deeper than previously known mineralization, with seven discrete gold zones intersected across at least 220 meters. The current Mineral Resource Estimate includes both the Wenot and Gilt Creek gold deposits totaling 2.1 million ounces indicated and 4.4 million ounces inferred, and this deep intercept suggests potential for significantly extending mine life.
First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) reported third quarter results that included signing a Long-Term Relationship Agreement with Mishkeegogamang First Nation covering its Springpole Gold Project in northwestern Ontario and completing financings totaling $36.4 million. The company's cash and marketable securities balance reached $37.6 million at September 30, 2025, with an additional $21.5 million equity interest in PC Gold Inc.
Exploration drilling at the Duparquet Gold Project delivered continued expansion of the Aiguille discovery zone and the newly discovered Miroir target, with recent results including 3.23 grams per tonne gold over 25.9 meters and 2.01 grams per tonne over 29.8 meters. The company is advancing two of Canada's largest gold projects through feasibility work at Springpole, where permitting activities continue with a final Environmental Impact Statement submitted in November 2024, and exploration at Duparquet in Quebec's prolific Abitibi region.
Vista Gold Corp. (NYSE-American: VGZ) (TSX: VGZ) completed a feasibility study for its Mt Todd gold project in Australia's Northern Territory that outlines a 15,000 tonne per day operation with after-tax NPV of $1.1 billion, internal rate of return of 27.8%, and 2.7-year payback period at $2,500 per ounce gold. The company reported cash totaling $13.7 million at September 30, 2025, with no debt.
"In the third quarter, Vista completed a feasibility study for Mt Todd that presents a fresh vision for the project as a 15,000 tonne per day operation – one that prioritizes lower initial capital costs and higher ore grades," said Frederick H. Earnest, President and CEO of Vista Gold. "Today, with much higher gold prices and growing investor interest, Mt Todd is positioned as a premier development opportunity. Its strong project economics, favorable jurisdiction, permitting status, and existing infrastructure make it well-suited for near-term development."
The study incorporates proven Australian design and operating practices to reduce risk and support operational success over a 30-year mine life. Vista is pursuing modifications to existing permits and completing technical work in advance of a decision to commence detailed engineering for the project.
P2 Gold Inc. (TSXV: PGLD) (OTCQB: PGLDF) provided an update on its wholly-owned Gabbs gold-copper project in Nevada, where reverse circulation drilling is underway with 12 holes completed at the Sullivan Zone and 24 holes totaling 4,900 meters planned. The program will then move to the Lucky Strike Zone for 47 holes totaling 10,000 meters of infill and expansion drilling, with initial results expected before year-end.
A diamond drill rig is mobilizing to complete 17 holes totaling 3,500 meters for geotechnical work supporting the feasibility study and metallurgical sampling. The company has begun awarding contracts for the Gabbs Project Feasibility Study, including pit slope stability, cultural inventory, hydrogeologic modeling, biological surveys, and metallurgical studies, with completion expected in the second quarter of 2026 followed by an updated Mineral Resource estimate and optimized mine plan.
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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DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Baystreet.ca is owned by Baystreet.ca Media Corp. (“BAY”). BAY has been paid a fee for Lake Victoria Gold Ltd. advertising and digital media from a shareholder of the Company (333,333 unrestricted shares). There may be 3rd parties who may have shares of Lake Victoria Gold Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of “BAY” reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; Cautionary Note on Production Decision: The Company cautions that it has not completed a feasibility study on the Imwelo Project that establishes mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic and technical failure associated with the Company’s production decision. In particular, there is no certainty that the planned low-capex open-pit operation will be economically viable or that planned production will occur as anticipated. Risks include, but are not limited to, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational or permitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
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SOURCES CITED:
1. https://fortune.com/article/current-price-of-gold-11-13-2025/
2. https://discoveryalert.com.au/gold-trades-like-meme-stock-2025/
3. https://markets.financialcontent.com/stocks/article/marketminute-2025-11-13-gold-shines-bright-the-enduring-allure-of-a-safe-haven-amidst-global-turmoil
https://www.xs.com/en/blog/gold-price-prediction/
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