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Equity Insider News Commentary
Issued on behalf of Lake Victoria Gold Ltd.
Equity Insider News Commentary – Major banks continue to amplify the gold bulls, with the most recent bullish forecast coming from Bank of America. And instead of pointing towards mounting geopolitical tensions, BoA is pinning its $4,000/oz gold forecast on US debt concerns, not war. Just as gold crossed over $3,400 per ounce again, Commerzbank is another that sees gold's price rising more significantly soon. Several experts in the precious metals space can see gold hitting $4,000 within a year. Analysts are calling for a mining equities breakout, causing several gold stocks to attract more attention, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF), Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF), Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF), and LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF).
State Street Global Advisors maintains that gold remains a smart play, citing its enduring appeal and upside potential. Meanwhile, analysts at Jefferies argue the sector is still mispriced, with many gold stocks trading as if bullion were capped at $2,500 per ounce—despite the metal hovering much higher.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is accelerating its push toward potential near-term production with the launch of a 7,750-meter drill program at Area C, the highest-grade zone within its fully permitted Imwelo Gold Project in northwestern Tanzania. Designed to support final mine planning and de-risk initial pit design, the campaign targets both grade control and deeper extensions to help shape what could become the project's first open-pit operation.
"We've designed this program to maximize Imwelo's short-term production readiness while extending the upside case," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "The drill data will help us finalize early mine scheduling, validate pit design, and potentially unlock high-grade extensions. With Area C now fully defined as our initial production zone, we're making meaningful progress toward becoming Tanzania's next gold producer."
The program includes 3,750 meters of RC drilling on a tightly spaced 10x10 metre grid to define early-stage ore/waste boundaries, supported by another 4,000 meters of strike and depth extension drilling. Intercepts to date from Area C include 6.8 meters at 14.6 g/t gold and 2 meters at 7.5 g/t—results that have positioned it as a compelling starting point within the broader resource footprint. Completion is targeted for Q3 2025, with construction decisions expected to follow based on final engineering and economic evaluations.
"We've optimized this program to deliver multiple layers of value—from detailed grade control to geotech validation and deeper exploration," said Seth Dickinson, P. Eng., Chief Operating Officer of Lake Victoria Gold. "The step-out and depth targets are especially compelling given the structural complexity we've seen to the west. The team is focused on accelerating toward a clean construction start with maximum technical confidence."
Imwelo is located just 12 kilometers from AngloGold Ashanti's Geita Mine and sits atop the Geita Greenstone Belt, one of Tanzania's most productive gold terrains. The project holds a 10-year mining license and is backed by a 2021 prefeasibility study outlining a scalable, low-capex development plan. With recoveries above 90% and contractor support from Taifa Mining—Tanzania's largest mining services group—the company is now advancing preparations to support a potential construction decision.
In parallel, Lake Victoria Gold continues to advance its high-priority Tembo Project, where a 3,000-meter drill program is planned at Ngula 1. This near-surface target has returned past intercepts of 28.57 g/t gold over 3 meters and 17.23 g/t over 4 meters. The current work is focused on confirming toll-milling potential while expanding geological understanding across the broader structural corridor—located adjacent to Barrick's Bulyanhulu Mine.
Barrick's Bulyanhulu (Buly) joint venture is quietly building shareholder exposure to potential long-term upside. Barrick and its partner (the Government of Tanzania) have now completed over 21,600 meters of drilling across six non-core licenses acquired from LVG in 2021—having already spent more than US$5.56 million out of a US$9 million commitment.
This is all part of Buly's commitment that was made as part of the Asset Purchase Agreement (APA) signed in December 2021, under which Buly acquired six non-core prospecting licenses from LVG. In addition to the US$6M upfront consideration received, LVG retains exposure to future exploration success through contingent payments of up to US$45 million tied to gold discoveries on the Project.
To support its near-term pathway, Lake Victoria Gold has signed a non-binding LOI with Nyati Resources for potential toll milling at Nyati's nearby 120-tpd processing plant. A new 500-tpd facility is expected to come online in the months ahead. Third-party firm Nesch Mintech Tanzania has been brought in to assess the plant's performance and technical readiness, and to help outline any modifications needed to support production.
Tembo's current 45-hole RC campaign at Ngula 1 is targeting near-surface gold zones with toll-milling potential, building on historical intercepts like 28.57 g/t gold over 3 meters and 17.23 g/t over 4 meters. By focusing on shallow targets first, LVG is aiming to establish early production optionality while advancing structural understanding of a district-scale system.
To support its development strategy, LVG has secured a gold prepay agreement with Monetary Metals tied to up to 7,000 ounces of future output, alongside a recent C$3.52 million equity investment from Taifa Group—part of a three-tranche investment set to total C$11.52 million. With field activity ramping up at both projects and financing structures in place, LVG continues to execute on a phased growth model in one of Africa's most prospective gold belts.
CONTINUED… Read this and more news for Lake Victoria Gold at:
https://equity-insider.com/2025/04/14/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:
ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) has secured $3.3 million in financing to support its transition into near-term gold production at the fully permitted Montauban Project in Quebec. The private placement drew continued support from key insiders and new participation from New York–based hedge funds and family offices.
"This financing marks a critical milestone for ESGold," said Paul Mastantuono, CEO of ESGold. "With construction now underway, we are entering the final stages before initiating production. Together with our partners, we are building ESGold into Canada's next producing mining company."
With construction underway, the company expects to enter final-stage development in the months ahead.
Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) recently achieved gold recoveries over 90% using BIOX®, POX, and Albion Process™ methods as part of its ongoing metallurgical program at the Golden Summit Project in Alaska. These findings are being integrated into a new pre-feasibility study aimed at boosting recoveries beyond the 72% benchmark from the 2024 resource model.
The company is also advancing a 30,000-meter drill program designed to upgrade resources and support engineering work. A revised mineral resource estimate is expected in the near term.
Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) has intersected multiple new shear-hosted gold zones as part of its 20,000-meter drill program at the Moss Gold Project in Ontario. Highlights include 17.7 meters of 1.52 g/t Au and 6.85 meters of 3.01 g/t Au from the Superion zone, extending mineralization west of the QES zone.
"We believe the definition of these new mineralized zones clearly demonstrates the emerging nature of the deposit as we continue to expand mineralization," said Michael Henrichsen, CEO of Goldshore. "In addition, the higher-than-average resource grades that have been encountered thus far on the northern side of the pit are very encouraging and will be a focus for additional drilling in the future, as we look to define a near surface high-grade zone that could be accretive to the economic performance of the deposit."
The company views these discoveries as potentially accretive to the economics of its existing conceptual pit model.
LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) is advancing toward restarting operations at its fully permitted 750 tpd Beacon Gold Mill in Val-d'Or, Québec, following over C$20 million in prior refurbishments.
"We are grateful to have acquired the fully permitted and refurbished Beacon Gold Mill, which received over C$20 million in upgrades by its previous operator and is located in the midst of numerous gold deposits in the historic Val-d'Or and Rouyn-Noranda mining districts, including our own Swanson Gold Deposit," said Paul Ténière, CEO of LaFleur Minerals. "With gold prices at record highs this is a pivotal year for LaFleur Minerals as we focus on restarting gold production at the Beacon Gold Mill and diamond drilling at the Swanson Gold Project to increase mineral resources."
The company is also preparing a 5,000-metre drill program and up to 100,000-tonne bulk sample at its district-scale Swanson Gold Project, which hosts over 185,000 ounces of Indicated and Inferred gold resources. A PEA is underway to evaluate a near-term mining and milling scenario at record gold prices.
Article Source: https://equity-insider.com/2025/04/14/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
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