Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – Gold has held above $4,200 per ounce through early December, while established producers demonstrate record profitability with all-in sustaining costs averaging around $1,600 per ounce, creating exceptional margin environments that are narrowing valuation gaps between cash-flow generators and companies advancing toward first production[1]. The combination of sustained high metal prices and operational discipline has transformed project economics for developers bringing assets online during this cycle, positioning Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Lundin Gold Inc. (TSX: LUG) (OTCQX: LUGDF), Artemis Gold Inc. (TSXV: ARTG) (OTCQX: ARGTF), China Gold International Resources Corp. Ltd. (TSX: CGG) (OTCPK: JINFF), and SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM).
Major forecasts targeting $4,000 to $5,000 for 2025-2026 from institutions including Goldman Sachs, UBS, and Standard Chartered reflect structural demand shifts as central banks maintain near-record purchasing levels[2]. The sector benefits from improved capital discipline and stronger balance sheets compared to previous cycles, creating timing advantages for companies transitioning from development to production as gold establishes new trading ranges during a historic window of producer profitability[3].
Gold development company Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is advancing two high-grade projects in Tanzania's prolific Lake Victoria Goldfields. The company has released the first analytical results from a 4,000-meter drill program at Area C, the core production zone at its fully permitted Imwelo Gold Project in northwestern Tanzania.
Area C carries an average grade of 3.7 g/t gold and will anchor the company's initial mining operations. Assays from the first five drill holes confirm that mineralization extends well beyond the current open-pit design, now pushing past 250 meters vertical depth. That shatters the historical resource boundary of 200 meters and validates potential for both a larger pit shell and future underground mining.
Additional gold-bearing lodes intersected in the footwall potentially expand the mineralization footprint further. The results confirm the geological model and support Imwelo's pathway toward production.
"These first results are exactly what we hoped to see as we advance Imwelo toward development," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "The drilling confirms that the mineralization continues beyond the limits of the current pit design, with additional lodes emerging in both the hanging wall and footwall. With assays now flowing, we expect steady news flow through year-end as we build the geologic and engineering foundation for construction."
The program uses reverse-circulation pre-collars paired with diamond-core tails, cutting cost and cycle time while delivering high-quality geological, geotechnical, and metallurgical data for final pit design and early mine planning. Five of 24 planned drill holes have returned assays from the MSA Laboratory in Geita, showing consistent grades and widths that mirror the modeled resource. Lake Victoria Gold recently mobilized a second drill rig to accelerate the Area C campaign, positioning the company to release steady assay updates through year-end.
The results advance a dual-track strategy at both Imwelo and the nearby Tembo Project, where Barrick Mining's Bulyanhulu operation funds exploration under an Asset Purchase Agreement that includes exposure to up to US$45 million in contingent milestone payments tied to discoveries. Recent financing totaling $8 million funds work programs designed to activate a pre-paid forward purchase facility with Monetary Metals, unlocking non-dilutive construction financing.
With gold trading above $4,100 per ounce, critical regulatory milestones locked in including an agreement in principle with the Government of Tanzania and environmental approval of its Updated Environmental and Social Management Plan, Lake Victoria Gold is driving Imwelo toward first production within 12 months of construction at Tanzania's next emerging gold producer.
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:
Lundin Gold Inc. (TSX: LUG) (OTCQX: LUGDF) has released 2026 guidance projecting production of 475,000 to 525,000 ounces of gold from its Fruta del Norte mine in Ecuador, with industry-competitive all-in sustaining costs of US$1,110 to US$1,170 per ounce and cash operating costs of US$900 to US$960 per ounce. The company plans to invest $75 to $90 million in sustaining capital while launching an $85 million exploration campaign, its largest in history, comprising 133,000 metres of drilling to unlock new growth potential.
"2026 marks an important step forward for Lundin Gold as we continue to unlock the full potential of Fruta del Norte and its extensions," said Jamie Beck, President and CEO. "Our investments in exploration to date are delivering tangible results, and these successes are driving future expansion opportunities, including a development decision on Fruta del Norte South expected in H1 2026 and a mine to mill throughput expansion decision in H2 2026."
The company is advancing construction of its Phase 1A expansion, a capital-efficient 33% increase in processing plant design capacity expected by Q4 2026, while nearing completion of front-end engineering and design work for an optimized Phase 2 expansion with an investment decision anticipated before year-end. Lundin Gold continues delivering shareholder returns through fixed quarterly dividends of $0.30 per share and a variable dividend based on at least 50% of normalized free cash flow, supported by a newly arranged $700 million credit facility.
Artemis Gold Inc. (TSXV: ARTG) (OTCQX: ARGTF) has delivered strong Q3 2025 results from its Blackwater Mine in British Columbia with lowest decile all-in sustaining costs of US$840 per gold ounce sold and an industry-leading AISC margin of 72%, producing 60,985 ounces during the quarter at mill throughput rates of 101% of design capacity. The company generated $308.1 million in revenue and $163.7 million in operating cash flow, selling 62,863 ounces at an average realized price of US$3,489 per ounce.
"We delivered strong financial performance during the quarter with lowest decile AISC and increased margins driven by higher realized gold prices," said Dale Andres, CEO of Artemis Gold. "Mining and milling operations at Blackwater performed strongly, and above design capacity in the first full operating quarter after declaring commercial production in May 2025."
The company is advancing construction of its Phase 1A expansion, which will increase mill throughput by 33% to 8 million tonnes per year by Q4 2026 at a capital cost of $100-$110 million, while nearing completion of front-end engineering and design work for an accelerated Phase 2 expansion with an investment decision expected before year-end. Artemis Gold recently arranged a $700 million underwritten credit facility to refinance existing debt and maintain total available liquidity of $317.3 million at quarter-end, positioning the company to fund future growth while generating strong free cash flow from operations.
China Gold International Resources Corp. Ltd. (TSX: CGG) (OTCPK: JINFF) achieved record-high net profits in two consecutive quarters, reporting Q3 2025 net profit of $142.3 million and nine-month net profit of $344.6 million from its CSH Gold Mine in Inner Mongolia and Jiama Copper-Gold Polymetallic Mine in Tibet. The company's revenue increased 36% to $345.0 million in Q3 2025 with mine operating earnings of $197.0 million, while nine-month revenue doubled to $925.4 million with operating cash flow of $569.6 million.
"We achieved record-high net profits in two consecutive quarters, reaching the highest level to date. This not only validates the foresight behind our strategic decision-making, but also demonstrates a marked improvement in operational efficiency," said Mr. Chenguang Hou, Chairman and CEO of China Gold International Resources. "Building on our team's relentless dedication and pursuit of excellence, China Gold International will capitalize on upcoming opportunities to sustain our leadership in the industry and further enhance our market value."
Gold production increased 27% to 129,350 ounces for the nine months ended September 30, 2025, compared to 102,245 ounces for the same period in 2024. The company's copper production also increased significantly to 119.3 million pounds for the nine-month period, contributing to the strong revenue growth and record profitability.
SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) has announced initial results for the Cripple Creek & Victor Gold Mine with an after-tax NPV5% of $824 million at consensus gold prices and a 12-year mine life based on 2.8 million ounces of gold Mineral Reserves. The operation is expected to produce an average of 141,000 ounces of gold annually from 2026 to 2028, generating average annual after-tax free cash flow of $128 million over the same period.
"The transformational acquisition of CC&V established SSR Mining as the third largest gold producer in the United States, with two core operations each with mine lives in excess of 10 years. Following a very successful integration process, CC&V has already paid back the initial $100 million upfront acquisition price in mine-site after-tax free cash flow," said Rod Antal, Executive Chairman of SSR Mining. "Including the total potential transaction outlay of $275 million, the results from this initial Technical Report Summary demonstrate a transaction IRR in excess of 100%, a truly exceptional outcome with meaningful growth potential for the operation still ahead. Today's initial life of mine plan already demonstrates a long-lived operation and with nearly five million ounces of Measured & Indicated Mineral Resources and two million ounces of Inferred Mineral Resources, there is a clear opportunity for future growth."
Since acquiring CC&V in February 2025, the mine has produced 85,165 ounces of gold and generated approximately $115 million in mine site after-tax free cash flow to SSR Mining. With 4.8 million ounces of Measured & Indicated Mineral Resources exclusive of Mineral Reserves and an additional 2.0 million ounces of Inferred Mineral Resources, the operation presents significant potential for future reserve conversion and mine life extension.
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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SOURCES CITED:
1. https://www.vaneck.com/us/en/blogs/gold-investing/gold-in-2025-a-new-era-of-structural-strength-and-enduring-appeal/
2. https://www.xs.com/en/blog/gold-price-prediction/
3. https://www.vaneck.com/us/en/blogs/gold-investing/gold-in-2025-a-new-era-of-structural-strength-and-enduring-appeal/
