Welcome to our dedicated page for LAKE VICTORIA GOLD news (Ticker: LVGLF), a resource for investors and traders seeking the latest updates and insights on LAKE VICTORIA GOLD stock.
Lake Victoria Gold Ltd. reports company news centered on gold project development in Tanzania's Lake Victoria Goldfield. Recurring updates cover the Imwelo Gold Project and Tembo Project, including drilling results, geotechnical testing, metallurgical recovery work, pit optimization, mine planning, permitting status, and Tanzania mining regulatory matters.
Company announcements also describe material agreements, capital-structure matters, governance disclosures, strategic investor participation, and project-funding themes tied to advancing exploration and development-stage gold assets.
Lake Victoria Gold (OTCQB:LVGLF) has secured NEMC approval for its updated Environmental and Social Management Plan at the Imwelo Gold Project in Tanzania. The project, located 12km from AngloGold Ashanti's Geita Gold Mine, is fully permitted under a 10-year mining license and targets first gold production within 12 months of construction start.
The project's Area C zone shows promising grades of 3.7 g/t Au, with historical resources including 42,000 oz at 3.15 g/t (Measured), 95,700 oz at 1.95 g/t (Indicated), and 153,900 oz at 1.53 g/t (Inferred). The company has secured a non-binding gold prepay financing facility for pre-production activities and benefits from strategic support from Tanzania's leading mining contractor, Taifa Group.
Lake Victoria Gold (OTCQB: LVGLF) has issued 228,872 common shares at $0.195 per share to satisfy its interest payment obligations to debenture holders. The share issuance, which received TSX Venture Exchange approval, covers $44,630 in accrued interest on $750,000 of convertible debentures issued in July and August 2024. The interest payment period covers up to June 30th, 2025.
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) 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.