Lake Victoria Gold Stock Price, News & Analysis

Lake Victoria Gold (OTCQB: LVGLF) provided an update on the construction of the Nyati Resources gold processing facility in Tanzania and progress toward a binding agreement. The facility includes an operating 120 tonne-per-day CIP plant and is completing a larger 500+ tpd unit, bringing total capacity to over 600 tpd.

The new plant is in final stages of construction with commissioning expected in 4-6 weeks. Key components including crushing circuits, ball mills, leach circuits, and electrical systems are installed and undergoing final testing. The facility features dual regrind mills and high-capacity leach tanks for maximizing recoveries.

The company is advancing negotiations for a binding agreement with Nyati Resources, which would grant LVG exclusive rights to mill and process ore through the facility.

Lake Victoria Gold (OTCQB: LVGLF) has announced two key developments. First, the company will issue 228,872 common shares at $0.195 per share to satisfy $44,630 in interest payments on convertible debentures worth $750,000 that were issued in July and August 2024.

Additionally, the company has extended its exclusivity period by 45 days with Nyati Resources (T) Limited, following their May 1, 2025 Letter of Intent, to complete due diligence and finalize joint venture agreements.

Lake Victoria Gold (OTCQB:LVGLF) has announced a 7,750-meter multi-purpose drilling campaign at Area C of its Imwelo Gold Project in Tanzania. The program aims to support production readiness, resource conversion, and pit design optimization, targeting completion in Q3 2025.

Area C, averaging 3.7 g/t Au, represents one of the highest-grade zones within Imwelo's historical resource of 291,600 oz Au. The project, located 12km from AngloGold Ashanti's Geita Gold Mine, is fully permitted with a 10-year mining license and targets first gold production within 12 months of construction start.

The drilling program includes 3,750m of grade control drilling, 2,500m of strike extension drilling, and 1,500m of depth extension drilling, along with geotechnical and metallurgical work to support final engineering and plant commissioning.

Lake Victoria Gold (LVGLF) provided an update on Q1 2025 exploration activities conducted by Bulyanhulu Gold Mine (Buly), a Barrick Mining-Tanzania Government joint venture. The activities are part of a US$9M exploration commitment from a 2021 Asset Purchase Agreement where Buly acquired six prospecting licenses from LVG. To date, US$5.56M has been spent, with LVG retaining potential for US$45M in contingent payments tied to gold discoveries. Q1 2025 saw 360 meters of diamond drilling completed, bringing total drilling under the APA to 33,200 meters. The drilling revealed promising geological structures including sheared mafic volcanics, felsic tuffs, and zones of quartz-pyrite-pyrrhotite mineralization. LVG maintains focus on advancing Tembo and Imwelo projects toward production in 2025-2026 while benefiting from exploration upside through the APA structure.

Lake Victoria Gold (LVGLF) has announced a strategic 3,000m reverse circulation drilling program at its Ngula 1 project, following a mining license grant on April 9, 2025. The campaign aims to delineate a shallow resource to support a recently announced processing joint venture with a third-party facility located 3.5km from the site. Previous drilling at Ngula 1 has shown promising gold intersections, including notable results such as 3.13g/t Au over 25.89m and 17.23g/t Au over 4.00m. The drilling program will target a 300-metre strike length using a grid of 45 holes spaced 20 meters apart, testing depths of 10m, 30m, and 50m below surface. This initiative is part of LVG's broader strategy to develop what they believe could be a district-scale gold system, while potentially generating near-term cash flow through the processing JV.

Lake Victoria Gold (LVGLF) has engaged Nesch Mintech Tanzania Limited to conduct an independent commissioning audit of Nyati Resources' gold processing plant in Tanzania. This audit supports LVG's evaluation of a proposed joint venture with Nyati focused on regional gold processing. The joint venture would integrate gold-bearing material from Primary Mining Licenses and LVG's recently converted Tembo Mining Licenses with Nyati's processing infrastructure.

The processing facility includes a recently commissioned 120 tpd carbon-in-pulp plant and a second unit under construction, with combined capacity expected to reach 620 tpd. The joint venture would create a special purpose vehicle owned by LVG, Nyati, and the Government of Tanzania (16% free-carried). Nesch Mintech's audit, scheduled for June 2025, will assess plant readiness, performance, and operational viability.

Lake Victoria Gold (OTCQB: LVGLF) held its Annual and Special Meeting of Shareholders on May 7, 2025. Shareholders elected seven directors: Marc Cernovitch, Simon Benstead, David Scott, Frank Högel, Seth Dickinson, Dean Comand, and Richard Reynolds. The company appointed D&H Group LLP as auditor and approved a new 10% rolling omnibus equity incentive plan.

Following the meeting, key executive appointments were made: Marc Cernovitch as CEO, Simon Benstead as Executive Chairman and CFO, David Scott as Managing Director Tanzania, Seth Dickinson as COO, and Nick DeMare as Corporate Secretary. The new equity incentive plan, pending TSX Venture Exchange approval, allows for various awards including stock options, deferred share units, and performance share units.

Gold prices have surged back to $3,300 after briefly touching $3,500 in late April 2025, prompting major institutions to revise their forecasts upward. Deutsche Bank projects $3,700 per ounce by 2026, while JP Morgan anticipates $4,000 by Q2 2026. More bullish predictions come from billionaire John Paulson and mining veteran Rob McEwen, who forecast $5,000 gold by 2028. The rally, fueled by Chinese market activity, has boosted gold mining stocks. Lake Victoria Gold has signed a non-binding LOI with Nyati Resources to evaluate a small-scale development partnership at its Tembo Project in Tanzania, potentially utilizing Nyati's existing 120 tpd processing plant and a new 500 tpd facility. The company recently raised C$3.52 million through a strategic investment from Taifa Group and secured a gold prepay agreement with Monetary Metals for up to 7,000 ounces.

Lake Victoria Gold has signed a non-binding Letter of Intent with Nyati Resources to explore a small-scale gold development opportunity at its Tembo Project in Tanzania. The proposed joint venture would utilize Nyati's existing 120 tpd gold processing plant and a 500 tpd plant under construction. Nyati is raising up to $5 million in working capital for development and operations. The preliminary profit-sharing arrangement (after 16% government carried interest) proposes 85% allocation to Lake Victoria Gold's subsidiary MIP and 15% to Nyati. MIP would manage operations while Nyati contributes processing infrastructure. The parties have agreed to a 60-day exclusivity period to finalize definitive agreements. The project aims to leverage existing infrastructure and local ore sources to create a scalable gold production platform.