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LAKE VICTORIA GOLD LTD - $lvglf STOCK NEWS

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Lake Victoria Gold (TSXV: LVG) provides a corporate update, highlighting progress on the Imwelo Property and Tembo Project. The acquisition of the Imwelo Mining License is nearing completion, with important tax assessments underway. Significant advancements include earthworks, infrastructure development, and securing the necessary equipment for construction. The Tembo Project, in collaboration with Barrick Gold, is progressing with a comprehensive drilling program and substantial exploration expenditure to unlock potential mineral resources.

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Lake Victoria Gold Ltd. (LVG) announces the approval of the acquisition of the Imwelo mining license by its subsidiary Tembo Gold Ltd. from Tanzoz Minerals Limited. The acquisition was unconditionally approved by the Tanzanian Fair Competition Commission on February 29, 2024. The Imwelo project includes a fully permitted mining license located in the Geita greenstone belt, with significant gold resources. The acquisition is valued at C$5,500,000, consisting of approximately 23.6 million common shares at C$0.22 per share. The next steps involve the assessment of capital gains tax and the submission of the license transfer application to the Mining Commission of Tanzania.
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Lake Victoria Gold Limited (LVGLF) held its annual general meeting and reported the election of incumbent and new directors, the re-appointment of the auditor, and the ratification of the existing stock option plan. Marc Cernovitch was appointed as the new CEO, Simon Benstead as the Executive Chairman and CFO, and David Scott as the Managing Director Tanzania.
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Lake Victoria Gold Limited (LVGLF) has announced progress on the acquisition of the Imwelo Project mining licence from Tanzoz Minerals Limited in Tanzania. The acquisition is planned for gold production within 12 months, with various milestones already achieved, including FCC approval, TRA response imminent, final land compensations paid, and detailed engineering design underway. The company is also in negotiations with the Tanzanian Government for a joint venture agreement and royalty payments. Executive Chairman & CFO, Simon Benstead, expressed optimism about the progress and the company's priorities for 2024.
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LAKE VICTORIA GOLD LTD

OTC:LVGLF

LVGLF Rankings

LVGLF Stock Data

19.50M
60.78M
31.77%
10.55%
Gold Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
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