Lake Victoria Gold Engages Nesch Mintech for Commissioning Audit of Nyati Gold Processing Plant
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 (LVGLF) ha incaricato Nesch Mintech Tanzania Limited di effettuare un audit indipendente di commissioning dell'impianto di lavorazione dell'oro di Nyati Resources in Tanzania. Questo audit supporta la valutazione di LVG riguardo una proposta di joint venture con Nyati, focalizzata sulla lavorazione regionale dell'oro. La joint venture integrerebbe il materiale aurifero proveniente dalle Licenze Minerarie Primarie e dalle Licenze di Estrazione Tembo recentemente convertite di LVG con l'infrastruttura di lavorazione di Nyati.
L'impianto di lavorazione comprende un impianto carbon-in-pulp da 120 tpd recentemente avviato e una seconda unità in costruzione, con una capacità combinata prevista di 620 tpd. La joint venture darà vita a un veicolo speciale di proprietà di LVG, Nyati e del Governo della Tanzania (con una partecipazione gratuita del 16%). L'audit di Nesch Mintech, previsto per giugno 2025, valuterà la prontezza dell'impianto, le prestazioni e la sostenibilità operativa.
Lake Victoria Gold (LVGLF) ha contratado a Nesch Mintech Tanzania Limited para realizar una auditoría independiente de puesta en marcha de la planta de procesamiento de oro de Nyati Resources en Tanzania. Esta auditoría respalda la evaluación de LVG sobre una propuesta de empresa conjunta con Nyati centrada en el procesamiento regional de oro. La empresa conjunta integraría material aurífero de las Licencias Mineras Primarias y las Licencias de Minería Tembo recientemente convertidas de LVG con la infraestructura de procesamiento de Nyati.
La planta de procesamiento incluye una planta de carbono en pulpa de 120 tpd recientemente puesta en marcha y una segunda unidad en construcción, con una capacidad combinada prevista de 620 tpd. La empresa conjunta creará un vehículo de propósito especial propiedad de LVG, Nyati y el Gobierno de Tanzania (con un 16% libre de participación). La auditoría de Nesch Mintech, programada para junio de 2025, evaluará la preparación de la planta, su rendimiento y viabilidad operativa.
Lake Victoria Gold (LVGLF)는 탄자니아에 위치한 Nyati Resources의 금 가공 공장에 대해 독립적인 시운전 감사를 수행하기 위해 Nesch Mintech Tanzania Limited를 고용했습니다. 이 감사는 지역 금 가공에 중점을 둔 Nyati와의 공동 투자 제안을 평가하는 LVG의 작업을 지원합니다. 공동 투자는 1차 채광 허가와 LVG가 최근 전환한 Tembo 채광 허가에서 나오는 금 함유 물질을 Nyati의 가공 인프라와 통합할 예정입니다.
가공 시설에는 최근 가동을 시작한 일일 120톤 탄소 침출 공장과 건설 중인 두 번째 설비가 포함되어 있으며, 총 처리 능력은 일일 620톤에 이를 것으로 예상됩니다. 공동 투자는 LVG, Nyati 및 탄자니아 정부(16% 무상 지분 소유)가 소유하는 특수목적법인을 설립할 것입니다. Nesch Mintech의 감사는 2025년 6월에 예정되어 있으며, 공장 준비 상태, 성능 및 운영 가능성을 평가할 예정입니다.
Lake Victoria Gold (LVGLF) a mandaté Nesch Mintech Tanzania Limited pour réaliser un audit indépendant de mise en service de l'usine de traitement de l'or de Nyati Resources en Tanzanie. Cet audit soutient l'évaluation par LVG d'une coentreprise proposée avec Nyati, axée sur le traitement régional de l'or. La coentreprise intégrerait les matériaux aurifères provenant des licences minières primaires et des licences minières Tembo récemment converties de LVG avec l'infrastructure de traitement de Nyati.
L'installation de traitement comprend une usine carbon-in-pulp de 120 tpd récemment mise en service et une seconde unité en construction, avec une capacité combinée prévue de 620 tpd. La coentreprise créerait un véhicule ad hoc détenu par LVG, Nyati et le gouvernement de Tanzanie (16 % de participation gratuite). L'audit de Nesch Mintech, prévu pour juin 2025, évaluera la préparation de l'usine, ses performances et sa viabilité opérationnelle.
Lake Victoria Gold (LVGLF) hat Nesch Mintech Tanzania Limited beauftragt, eine unabhängige Inbetriebnahmeprüfung der Goldverarbeitungsanlage von Nyati Resources in Tansania durchzuführen. Diese Prüfung unterstützt die Bewertung von LVG hinsichtlich eines vorgeschlagenen Joint Ventures mit Nyati, das sich auf die regionale Goldverarbeitung konzentriert. Das Joint Venture würde goldhaltiges Material aus den Primären Bergbaulizenzen und den kürzlich umgewandelten Tembo-Bergbaulizenzen von LVG mit der Verarbeitungsinfrastruktur von Nyati integrieren.
Die Verarbeitungsanlage umfasst eine kürzlich in Betrieb genommene 120 tpd Carbon-in-Pulp-Anlage und eine zweite im Bau befindliche Einheit, deren Gesamtkapazität voraussichtlich 620 tpd erreichen wird. Das Joint Venture würde ein Zweckunternehmen schaffen, das im Besitz von LVG, Nyati und der Regierung von Tansania (16% Gratisbeteiligung) ist. Die Prüfung von Nesch Mintech, die für Juni 2025 geplant ist, wird die Anlagenbereitschaft, Leistung und betriebliche Machbarkeit bewerten.
- Expansion of processing capacity from 120 tpd to 620 tpd with second unit under construction
- Strategic joint venture potential with existing infrastructure
- Government support with 16% free-carried interest
- Recent conversion of Tembo Project's Prospecting License into four 10-year Mining Licenses
- Plant commissioning and joint venture agreement not yet finalized
- Operational performance and efficiency still pending independent verification
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) ("LVG" or the "Company") is pleased to announce that it has formally engaged Nesch Mintech Tanzania Limited to conduct an independent commissioning audit and technical due diligence of the gold processing plant owned by Nyati Resources (T) Limited ("Nyati"). This work supports LVG's evaluation of a proposed joint venture with Nyati, focused on regional gold processing and development in Tanzania.
This announcement follows LVG's recent press releases dated April 9, 2025, outlining the successful conversion of the Tembo Project's Prospecting License into four 10-year Mining Licenses, and May 1, 2025, summarizing the key commercial terms of a proposed joint venture between Lake Victoria Gold, Nyati Resources, and MIPCCL. These milestones reflect the Company's continued progress toward unlocking near-term development potential while leveraging strategic partnerships and existing infrastructure.
The proposed joint venture aims to integrate gold-bearing material from Primary Mining Licenses and LVG's Tembo Mining Licenses ("MLs") with Nyati's processing infrastructure. A privately operated 120 tpd carbon-in-pulp plant has recently been commissioned on a Processing License located within one of Tembo's MLs, with a second, larger unit under construction. Once complete, combined capacity is expected to reach 620 tpd. The JV would consolidate these assets under a new special purpose vehicle jointly owned by LVG, Nyati, and the Government of Tanzania (
Commissioning of the new processing unit is scheduled to take place in June 2025, and Nesch Mintech's audit will coincide with this milestone to provide an independent assessment of the plant's readiness and performance.
The scope of work to be undertaken by Nesch Mintech includes:
- Verification of nameplate production capacity and gold recovery efficiency
- Review of equipment performance and process stability
- Assessment of metallurgical accounting systems and sampling protocols
- Identification of bottlenecks and opportunities for optimization
- Delivery of a detailed audit report with findings and actionable recommendations
This technical evaluation is intended to support LVG's assessment of the operational readiness and long-term viability of the plant. The engagement includes both on-site inspection and off-site data analysis, culminating in a final report that will inform LVG's ongoing joint venture discussions.
"Engaging Nesch Mintech at this stage ensures we bring third-party rigour and transparency to the commissioning process, which is fundamental to assessing the Nyati opportunity," said Marc Cernovitch, President & CEO of Lake Victoria Gold.
About Nesch Mintech Tanzania Limited
Founded in 2014 and headquartered in Mwanza, Tanzania, Nesch Mintech Tanzania Limited is a privately-owned company specializing in mineral testing, metallurgical analysis, and process engineering. The company was established to address challenges in the mining sector related to the credibility and integrity of mineral test results, which are critical for investment decision-making.
Nesch Mintech is accredited by the Southern African Development Community Accreditation Services (SADCAS) under ISO/IEC 17025:2005 for minerals testing, demonstrating technical proficiency and the ability to produce precise and accurate test and analysis of minerals.
The company's services include:
- Process Innovation
- Metallurgical Pilot Plants
- Process Engineering
- Metallurgical Test Works
- Analytical Services
- On-Site Metallurgy Services
Nesch Mintech has expanded its services beyond Tanzania to Uganda, Burundi, the DRC, and Kenya, following its ISO/IEC 17025 accreditation in 2017.
Simon Benstead, Executive Director of Lake Victoria Gold, added: "This audit is an important milestone as we advance this most compelling near-term gold development opportunity. By combining strategic processing infrastructure with high-potential development targets, the proposed joint venture has the potential to unlock meaningful value for all stakeholders. We look forward to working closely with Nesch Mintech to validate the plant's performance and move confidently toward execution."
The audit will commence in parallel with plant commissioning activities and is expected to be completed in early Q3 2025.
Cautionary statement regarding preliminary development concepts:
The Company cautions that the assessment of potential development opportunities at the Tembo project is at a preliminary stage and is not based on a mineral resource estimate or any economic analysis such as a feasibility study. As such, there are significant technical and economic uncertainties that remain unresolved, including, but not limited to, metallurgical recoveries, grade continuity, mineability, permitting, processing capacity, capital and operating costs, and the availability of financing. Any reference to potential development scenarios is conceptual in nature and should not be construed as an indication that an economic or technical case has been established for mining at the Tembo project.
The scientific and technical content of this news release 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 Director and Officer of the Company.
About Lake Victoria Gold (LVG):
Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania.
The Company has a
LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than
Taifa Group (a diverse group of companies with interests in amongst others, Mining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals and Leather) has entered into an agreement with the Company to obtain an equity stake in the Company and through its wholly owned subsidiary Taifa Mining (a wholly Tanzanian owned company), or other nominees. Taifa Mining will also carry out all the contract mining and civil works for the Imwelo project. Taifa Mining is Tanzania's largest mining contractor with over 30 years mining related experience. Taifa have been the contractor of choice to most mines in Tanzania and have maintained long and successful relationships with companies such as Petra, De Beers, Barrick, and AngloGold Ashanti. In addition, Taifa also owns the largest fleet of mining equipment in Tanzania. As a company, Taifa is committed to adopting and adhering to the latest internationally recognized standards throughout all aspects of its business.
On Behalf of the Board of Directors of the Company,
Simon Benstead
Executive Chairman & CFO
Phone: +1 604-685-9316
Email: sbenstead@lakevictoriagold.com
For more information please contact:
Simon Benstead
Executive Chairman & CFO
Phone:+ 1 604-685-9316
Email: sbenstead@lakevictoriagold.com
Marc Cernovitch
CEO & Director
Phone: +1 604-685-9316
Email: mcernovitch@lakevictoriagold.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation, including: future exploration and development plans with respect to the Imwelo Project, contract work on the Imwelo Project by Taifa Mining, securing additional financing for the development costs of the Imwelo project, the closing of the acquisition of the Imwelo Project and the concurrent financing, including the satisfaction of the closing conditions thereunder, and receipt of all regulatory approvals, including the approval of the TSX Venture Exchange for the acquisition and financing. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond LVG's control, including risks associated with or related to: the completion of the acquisition of the Imwelo project, the concurrent financing and related transactions, including receipt of all regulatory approvals and third-party consents, the volatility of metal prices and LVG's common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of reserve and resource estimates; not achieving development or production, cost or other estimates; actual exploration or development plans and costs differing materially from the Company's estimates; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the availability of financing; financing and debt activities; operations in foreign and developing countries and the compliance with foreign laws, including those associated with operations in Tanzania and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally, including in response to the COVID-19 outbreak; remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; community support for LVG's operations, including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners; failures of information systems or information security threats; the ability to maintain adequate internal controls over financial reporting as required by law; compliance with anti-corruption laws, and sanctions or other similar measures; social media and LVG's reputation; and other risks disclosed in the Company's public filings.
LVG's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. LVG does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities LVG will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251246
FAQ
What is the expected processing capacity of Lake Victoria Gold's (LVGLF) Nyati plant after expansion?
When is the commissioning audit of LVGLF's new processing unit scheduled?
What is the ownership structure of the proposed Lake Victoria Gold joint venture?
What licenses does Lake Victoria Gold (LVGLF) hold for the Tembo Project?
What will Nesch Mintech's audit of LVGLF's plant include?
