Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – Central banks and retail investors drove gold to close at $4,004.40 per ounce Tuesday[1], with China and other nations diversifying away from US Treasuries while the dollar tumbled 10% amid trade tensions and Federal Reserve independence concerns. The precious metal's ascent has delivered unprecedented returns for mining equities, with gold miner funds posting 114% gains year-to-date as third-quarter inflows hit $5.4 billion[2]. Despite the rally, gold miners trade at a forward P/E of 14.3, below their ten-year average of 16.7[3], suggesting room for expansion across producers including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Vista Gold Corp. (NYSE-American: VGZ) (TSX: VGZ), Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF), First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF), and West Red Lake Gold (TSXV: WRLG) (OTCQB: WRLGF).
Ray Dalio recommended investors allocate "something like 15% of your portfolio in gold," calling it "the one asset that does very well when the typical parts of your portfolio go down."[4] Meanwhile, Goldman Sachs upgraded its forecast to $4,900 per ounce by Q2 2026[5], as other Wall Street analysts now characterize $5,000 gold as a "certainty."[6] With miners generating 30% free cash flow margins and two more Fed rate cuts expected before year-end, the sector appears positioned for sustained outperformance.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has commenced drilling at Area C, the highest-grade zone within its fully permitted Imwelo Gold Project in Tanzania, marking a critical inflection point in the company's path toward near-term production.
The first of approximately 24 planned holes is now drilling as part of a 4,000-metre program designed to finalize pit design, upgrade resource confidence, and test extensions at the priority starter pit. The company is using a cost-efficient drilling approach that captures the technical data required for final mine scheduling while keeping cycle times short.
"Kicking off drilling at Area C is a tangible step toward first production at Imwelo," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "This program is designed to tighten our final pit design, convert ounces where appropriate, and set up for grade-control drilling so that once construction begins we can move quickly into pre-strip and stockpiling."
The drilling targets several key goals: finalizing pit design with detailed engineering data, upgrading the confidence level of existing historical gold resources, testing for additional gold beyond currently defined zones, preparing operational mining plans, and optimizing gold recovery rates.
The first hole is testing Area C mineralization at approximately 120 metres depth near the western end of the zone, going deeper than previous drilling. Historical results from this area returned 6.8 metres at 14.6 g/t gold at 32 m and and 2.0 metres at 7.5 g/t from 22m.demonstrating high potential production-grade mineralization.
"We've engineered this campaign to answer the last technical questions: slope angles, ramp geometry, and continuity down-dip and to the west," said Seth Dickinson, Chief Operating Officer of Lake Victoria Gold. "By combining RC with diamond tails we are keeping costs down without compromising core data quality."
The drilling launch follows LVG having recently reached a pivotal agreement in principle with the Government of Tanzania on the government's statutory minimum 16% free carried interest, satisfying a principal regulatory requirement. Combined with environmental approval of the Updated Environmental and Social Management Plan, the regulatory framework is now effectively in place to advance toward construction.
Located just 12 kilometers from AngloGold Ashanti's flagship Geita mine, Imwelo holds a 10-year renewable mining license with metallurgical recoveries exceeding 90%—meaning 90 cents of every dollar of gold in the rock can in principle be extracted and sold. Perhaps more importantly, Lake Victoria Gold targets first gold within 12 months of breaking ground.
Financial momentum continued building in September, after LVG officially closed an oversubscribed $6 million financing and an about to close $2 million concurrent private placement. Proceeds support work programs satisfying conditions for a pre-paid forward purchase facility with Monetary Metals funding mine construction capital.
Beyond Imwelo, the Tembo Project offers additional optionality through a planned 3,000m drilling program at Ngula 1, where historic intercepts of 28.57 g/t gold over 3 metres demonstrate toll milling potential. The company also maintains exposure to up to US$45 million in contingent milestone payments from the 2021 asset sale to Barrick's Bulyanhulu operation.
The timing of drilling commencement could hardly be more strategic. With gold breaking through $4,000 per ounce for the first time in history, Lake Victoria Gold is mobilizing equipment at a fully permitted project in one of Africa's premier gold districts at precisely the moment when high-grade ounces command maximum value. As regulatory clearances align with exceptional metal prices and active field programs across two projects, LVG has positioned itself at the intersection of technical de-risking and unprecedented market opportunity.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/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:
Vista Gold Corp. (NYSE-American: VGZ) (TSX: VGZ) has filed feasibility study technical reports for its Mt Todd gold project in Northern Territory, Australia, confirming strong economics for the re-sized 15 ktpd operation. The company filed both an S-K 1300 Report with the SEC and an NI 43-101 Report on SEDAR+ on September 11, 2025, following its July results announcement.
The Mt Todd project represents a leading development-stage gold deposit in a Tier-1 mining jurisdiction, with the technical reports now available for review on the company's website and regulatory filings. Vista continues to position Mt Todd as offering significant initial production, expansion potential, and exploration upside supported by advanced local infrastructure.
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) has secured mineral licenses covering 41,150 hectares along the Valentine Lake Fault, tripling its claim holdings to over 65 km of strike length and 58,775 hectares total. This acquisition positions Sokoman as the largest landholder by strike length along the highly prospective regional fault system that also hosts Equinox Gold Corp.'s Valentine Gold Mine, which started processing ore in August 2025 and has an initial mineral resource of 4 million ounces.
"We believe the recent claim acquisitions are fundamentally transforming the Company's exploration strategy to take a district-scale approach while remaining focused on our core mineralized zones at Moosehead," said Denis Laviolette, Executive Chairman, CEO & Director of Sokoman. "With a dominant position along the Valentine Lake Fault, we believe the Company can apply its Newfoundland expertise to make other high-grade gold discoveries."
The newly consolidated Treasure Island Project hosts the most advanced gold zone outside of the Valentine Gold Mine at the Moosehead Zone, which has over 135,000m of drilling completed including high-grade highlights of 70.3 g/t Au over 9.05m and 12.5 g/t Au over 39.6m. Beyond the 2 km strike length of the Moosehead Zone, very limited exploration has occurred along the remaining 63 km of the project, which remains open for discovery.
First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) has expanded the Miroir target at its Duparquet Gold Project in Quebec's Abitibi region with drill hole DUP25-064 returning 3.23 g/t Au over 25.9m, including 11.20 g/t Au over 2.0m and 10.16 g/t Au over 1.4m. The company has completed approximately 16,000m of drilling to date in 2025, with 20 holes and ~4,450m focused on advancing the Miroir target, which continues to build strong continuity with multiple robust gold intercepts near surface.
"The Miroir target continues to deliver new discoveries within the largely underexplored volcanic setting of the Duparquet Project," said Dan Wilton, CEO of First Mining. "The strong grades and widths encountered to date provide new and exciting opportunities in our review of development scenarios that can now include near-surface, higher grade mineralization potential."
The latest drilling results extend the Miroir target to a vertical depth of 100m below surface where it remains open both up-dip toward surface and at depth, with the interpreted geophysical fold target now expanded to a strike length of 140m. The Miroir target, located 225m north of the Central Duparquet-Valentre-Dumico target, is emerging as part of a cluster of potential resource growth centres with synergies for future mining development within the Duparquet Project, which currently hosts an NI 43-101 compliant gold resource of 3.44 million ounces in the Measured & Indicated category.
West Red Lake Gold (TSXV: WRLG) (OTCQB: WRLGF) has reported Q3 operational progress at its Madsen Mine ramp-up, producing 35,700 tonnes of ore at an average grade of 5.4 g/t gold and pouring 7,055 ounces sold at an average price of US$3,456 per ounce for gross proceeds of CAD$33 million. This represents a 34% increase over Q2 gold production of 5,260 ounces, with mined ore tonnage increasing month over month as the operation advances toward commercial production targeted for early 2026.
"Ramp up at the Madsen mine is progressing well," said Shane Williams, President and CEO of West Red Lake Gold. "It is exciting to see tonnages rise, efficiencies increase, and gold production grow quarter by quarter, as planned."
Key operational achievements during Q3 included the implementation of underground waste rock storage utilizing historic voids, which has directly increased ore production by freeing up truck capacity and ventilation, with the mine now achieving over 1,000 tonnes of ore per day on several days including a record 1,400 tonnes. Reconciliation between modeled and actual mined grades remains strong, with Q3 sill development tonnes averaging 8.8 g/t gold, while the Madsen Shaft is expected to start operating in November to move 350 tonnes of ore per day and final equipment deliveries are scheduled for the coming months.
Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
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DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Baystreet.ca is owned by Baystreet.ca Media Corp. (“BAY”). BAY has been paid a fee for Lake Victoria Gold Ltd. advertising and digital media from a shareholder of the Company (333,333 unrestricted shares). There may be 3rd parties who may have shares of Lake Victoria Gold Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of “BAY” reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. 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 registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; Cautionary Note on Production Decision: The Company cautions that it has not completed a feasibility study on the Imwelo Project that establishes mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic and technical failure associated with the Company’s production decision. In particular, there is no certainty that the planned low-capex open-pit operation will be economically viable or that planned production will occur as anticipated. Risks include, but are not limited to, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational or permitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
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SOURCES CITED:
1. https://www.cnbc.com/2025/10/07/gold-4000-record.html
2. https://www.reuters.com/world/asia-pacific/funds-investing-gold-miners-bask-record-prices-2025-10-07/
3. https://seekingalpha.com/article/4828325-sgdj-reassessing-the-stunning-junior-gold-miners-rally
4. https://www.cnbc.com/2025/10/07/gold-4000-record.html
5. https://www.kitco.com/news/article/2025-10-07/goldman-sachs-now-sees-4900-gold-q2-2026-rising-etf-and-steady-central-bank
6. https://www.ibtimes.co.uk/gold-price-wall-street-analysts-claim-5000-gold-now-certainty-fed-independence-fears-grip-1746866
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