Latest news with #MarcCernovitch
Associated Press
22-05-2025
- Business
- Associated Press
As Majors Hit Their Stride, Contrarian Capital Eyes Gold's Next Wave
USA News Group News Commentary Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, May 22, 2025 /PRNewswire/ -- USA News Group News Commentary – While institutional headlines have focused on record-setting quarters from the world's biggest gold producers, a quieter opportunity may be forming in their wake. Capital is beginning to rotate down the value chain, with seasoned investors eyeing select juniors and mid-tiers that haven't yet priced in $3,300 gold —or the possibility of $3,500, as Goldman Sachs now forecasts. With the TSX nearing all-time highs and central banks continuing to build gold reserves, the stage may be set for a catch-up trade in developers and emerging producers. Among the gold stocks seeing renewed interest are Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF), McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Majestic Gold Corp. (TSXV: MJS) (OTCPK: MJGCF), and Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF). Jefferies recently noted that many gold equities are still trading at valuations more in line with $2,500 gold, even as fundamentals improve and development timelines shorten. For investors willing to look beyond the majors, this disconnect could represent one of the more asymmetric setups in the sector today. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is building momentum in Tanzania by exploring a low-capex pathway to near-term development. The company recently engaged Nesch Mintech Tanzania—an independent, highly regarded metallurgical and process engineering firm—to evaluate a local processing plant that could accelerate gold recovery while minimizing upfront spend. This follows a non-binding LOI with Nyati Resources, signaling early alignment on a phased development model. Nesch's review will determine the plant's readiness, potential gold recovery rates, and what targeted improvements could optimize output. '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 and CEO of Lake Victoria Gold. 'We are excited by the potential to leverage existing processing infrastructure and local ore sources to create a scalable gold production platform in Tanzania.' Should the partnership proceed, Lake Victoria Gold would start trucking mineralized material from its 100%-owned Mining Licences to Nyati's existing 120-ton-per-day plant, with potential to expand into a new 500-ton-per-day facility nearing completion. Combined, the two sites offer the foundation for a centralized processing hub—creating a streamlined, low-CAPEX development model with room to scale. For LVG, it represents a faster potential path to revenue with limited capital exposure. 'This audit is an important milestone as we advance this most compelling near-term gold development opportunity,' said Simon Benstead, Executive Director of Lake Victoria Gold. '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.' While still early in its development cycle and not yet supported by a formal resource estimate or Feasibility Study, the proposed initiative offers LVG a rare chance to validate its geology through live processing of mineralized materials. As with any small-scale operation, risks around grade variability, metallurgy, permitting, and financing remain. But if the plan works, it could fast-track initial cash flow and create a self-funded path for continued exploration. The Nyati agreement also builds on LVG's earlier move to evaluate small-scale development scenarios at its Tembo Project—located immediately adjacent to Barrick's high-grade Bulyanhulu mine. Tembo has already seen more than US$28 million in historical exploration, with over 50,000 metres of drilling defining multiple high-potential zones. Key targets like Ngula 1, Nyakagwe Village, and Nyakagwe East remain open along strike and at depth—pointing to meaningful long-term upside as the district continues to attract attention. 'Tembo has always stood out as a project with the potential to deliver both near-term value and long-term discovery upside,' said Benstead. 'Evaluating this small-scale development opportunity allows us to test the system, generate operational insights, and potentially self-fund ongoing exploration.' Lake Victoria Gold is steadily aligning capital, partnerships, and permitting to bring its Tanzanian portfolio into focus. While the high-potential Tembo Project remains the company's long-term exploration driver, its fully permitted Imwelo Project is currently in the lead as the most construction-ready asset. Backed by a 2021 Pre-Feasibility Study and located near AngloGold Ashanti's Geita Mine, Imwelo offers a clear path toward near-term development. To help move things forward, LVG signed a non-binding gold prepay term sheet with Monetary Metals in late 2024. The agreement provides upfront, non-dilutive capital in exchange for a portion of future production—tying repayment directly to output and reducing balance sheet risk. The structure supports access to value equivalent to up to 7,000 ounces of gold, with funds designated for early development and construction activity. Additional backing came in early 2025 through a C$3.52 million investment from Taifa Group, part of a larger C$11.52 million multi-stage financing. Alongside the capital, LVG welcomed former Taifa CEO Richard Reynolds to its board—bringing seasoned regional insight and operational depth. Looking ahead, the company also maintains a milestone-based earn-in agreement with Barrick worth up to US$45 million, contingent on future exploration success at Tembo. With plant evaluations underway, a potential joint venture on the table, and multiple funding mechanisms in play, Lake Victoria Gold is shaping up as a serious contender among East Africa's next wave of junior gold developers. CONTINUED… Read this and more news for Lake Victoria Gold at: In other industry developments and happenings in the market include: GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) generated $17.6 million in revenue in Q2 2025 from 555,511 silver equivalent ounces sold at Parral, producing $5.1 million in operating cash flow and increasing its cash position to $78.3 million. The average realized silver price was $31.70 per ounce, with a cash cost of $17.85 and AISC of $22.98 per ounce—supporting healthy project-level margins. 'Parral continued to generate significant cash flow for the Company during the quarter, providing operating cash flow of $5 million which is exceeding our spending at Los Ricos and corporate costs, and increased our cash balance by $2 million at quarter end,' said Brad Langille, President and CEO of GoGold Resources Inc. 'With our bought deal financing completed in April, this gives us an approximately $135 million cash balance today putting us in a very strong financial position to execute on Los Ricos South.' McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) produced 24,131 GEOs in Q1 2025 and reaffirmed full-year guidance of 120,000 to 140,000 GEOs, with stronger output expected in the second half. Production at Gold Bar and San José was in line with seasonal expectations, while operations at Fox were impacted by labor and weather-related challenges. With $68.5 million in cash and $61.1 million in working capital at quarter-end, the company remains well-capitalized following a recent $110 million convertible note issuance. A major turning point will come in July with the release of the Los Azules feasibility study, which will shift McEwen Copper's impact from expense to capital asset on the balance sheet. Back in March, Majestic Gold Corp. (TSXV: MJS) (OTCPK: MJGCF) reported strong full-year 2024 results, generating $71 million in revenue and $20.5 million in net income—up 68% from 2023. The company produced nearly 32,000 ounces of gold and ended the year with $100.7 million in cash, while paying out a dividend yielding over 10%. 'As we move into 2025, we expect an increase in gold production at the SJG Mine beginning in Q3 2025 and continuing into FY2026, driven by the completion of the SJG open-pit expansion project,' said Stephen Kenwood, CEO of Majestic Gold. 'With the recent acquisition of a 52% interest in the Mujin Gold Project, we will also begin consolidating Mujin's operations into the Company as of March 1, 2025.' With the SJG expansion expected to complete in Q2 2025 and a new 52% stake in the Mujin Gold Project, Majestic is positioning for meaningful growth. Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) produced 28,688 ounces of gold in Q1 2025, generating $82.7 million in revenue and $44.2 million in adjusted EBITDA. 'The first quarter of 2025 marked another consecutive quarter of positive net earnings and free cash flow, driven by our unhedged exposure to rising gold prices,' said Patrick Downey, President and CEO of Orezone Gold. 'Production and costs were in line with expectations with annual guidance being maintained.' With $102 million in cash and construction of its hard rock expansion now 45% complete, the company remains on track for a production boost later this year. Backed by strong cash flow and a well-received financing, Orezone is also evaluating a potential fast-track of Phase II's Stage 2. Article Source: CONTACT: USA NEWS GROUP [email protected] (604) 265-2873 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. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ('MIQ'). This article is being distributed for media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ('BAY') There may also 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 MIQ/BAY own shares of Lake Victoria Gold Ltd and 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 MIQ on behalf of 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; 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. Logo - View original content to download multimedia: SOURCE USA News Group
Cision Canada
22-05-2025
- Business
- Cision Canada
As Majors Hit Their Stride, Contrarian Capital Eyes Gold's Next Wave
VANCOUVER, BC, May 22, 2025 /CNW/ -- USA News Group News Commentary – While institutional headlines have focused on record-setting quarters from the world's biggest gold producers, a quieter opportunity may be forming in their wake. Capital is beginning to rotate down the value chain, with seasoned investors eyeing select juniors and mid-tiers that haven't yet priced in $3,300 gold —or the possibility of $3,500, as Goldman Sachs now forecasts. With the TSX nearing all-time highs and central banks continuing to build gold reserves, the stage may be set for a catch-up trade in developers and emerging producers. Among the gold stocks seeing renewed interest are Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF), McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Majestic Gold Corp. (TSXV: MJS) (OTCPK: MJGCF), and Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF). Jefferies recently noted that many gold equities are still trading at valuations more in line with $2,500 gold, even as fundamentals improve and development timelines shorten. For investors willing to look beyond the majors, this disconnect could represent one of the more asymmetric setups in the sector today. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is building momentum in Tanzania by exploring a low-capex pathway to near-term development. The company recently engaged Nesch Mintech Tanzania —an independent, highly regarded metallurgical and process engineering firm—to evaluate a local processing plant that could accelerate gold recovery while minimizing upfront spend. This follows a non-binding LOI with Nyati Resources, signaling early alignment on a phased development model. Nesch's review will determine the plant's readiness, potential gold recovery rates, and what targeted improvements could optimize output. "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 and CEO of Lake Victoria Gold. "We are excited by the potential to leverage existing processing infrastructure and local ore sources to create a scalable gold production platform in Tanzania." Should the partnership proceed, Lake Victoria Gold would start trucking mineralized material from its 100%-owned Mining Licences to Nyati's existing 120-ton-per-day plant, with potential to expand into a new 500-ton-per-day facility nearing completion. Combined, the two sites offer the foundation for a centralized processing hub—creating a streamlined, low-CAPEX development model with room to scale. For LVG, it represents a faster potential path to revenue with limited capital exposure. "This audit is an important milestone as we advance this most compelling near-term gold development opportunity," said Simon Benstead, Executive Director of Lake Victoria Gold. "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." While still early in its development cycle and not yet supported by a formal resource estimate or Feasibility Study, the proposed initiative offers LVG a rare chance to validate its geology through live processing of mineralized materials. As with any small-scale operation, risks around grade variability, metallurgy, permitting, and financing remain. But if the plan works, it could fast-track initial cash flow and create a self-funded path for continued exploration. The Nyati agreement also builds on LVG's earlier move to evaluate small-scale development scenarios at its Tembo Project—located immediately adjacent to Barrick's high-grade Bulyanhulu mine. Tembo has already seen more than US$28 million in historical exploration, with over 50,000 metres of drilling defining multiple high-potential zones. Key targets like Ngula 1, Nyakagwe Village, and Nyakagwe East remain open along strike and at depth—pointing to meaningful long-term upside as the district continues to attract attention. "Tembo has always stood out as a project with the potential to deliver both near-term value and long-term discovery upside," said Benstead. "Evaluating this small-scale development opportunity allows us to test the system, generate operational insights, and potentially self-fund ongoing exploration." Lake Victoria Gold is steadily aligning capital, partnerships, and permitting to bring its Tanzanian portfolio into focus. While the high-potential Tembo Project remains the company's long-term exploration driver, its fully permitted Imwelo Project is currently in the lead as the most construction-ready asset. Backed by a 2021 Pre-Feasibility Study and located near AngloGold Ashanti's Geita Mine, Imwelo offers a clear path toward near-term development. To help move things forward, LVG signed a non-binding gold prepay term sheet with Monetary Metals in late 2024. The agreement provides upfront, non-dilutive capital in exchange for a portion of future production—tying repayment directly to output and reducing balance sheet risk. The structure supports access to value equivalent to up to 7,000 ounces of gold, with funds designated for early development and construction activity. Additional backing came in early 2025 through a C$3.52 million investment from Taifa Group, part of a larger C$11.52 million multi-stage financing. Alongside the capital, LVG welcomed former Taifa CEO Richard Reynolds to its board—bringing seasoned regional insight and operational depth. Looking ahead, the company also maintains a milestone-based earn-in agreement with Barrick worth up to US$45 million, contingent on future exploration success at Tembo. With plant evaluations underway, a potential joint venture on the table, and multiple funding mechanisms in play, Lake Victoria Gold is shaping up as a serious contender among East Africa's next wave of junior gold developers. In other industry developments and happenings in the market include: GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) generated $17.6 million in revenue in Q2 2025 from 555,511 silver equivalent ounces sold at Parral, producing $5.1 million in operating cash flow and increasing its cash position to $78.3 million. The average realized silver price was $31.70 per ounce, with a cash cost of $17.85 and AISC of $22.98 per ounce—supporting healthy project-level margins. "Parral continued to generate significant cash flow for the Company during the quarter, providing operating cash flow of $5 million which is exceeding our spending at Los Ricos and corporate costs, and increased our cash balance by $2 million at quarter end," said Brad Langille, President and CEO of GoGold Resources Inc. "With our bought deal financing completed in April, this gives us an approximately $135 million cash balance today putting us in a very strong financial position to execute on Los Ricos South." McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) produced 24,131 GEOs in Q1 2025 and reaffirmed full-year guidance of 120,000 to 140,000 GEOs, with stronger output expected in the second half. Production at Gold Bar and San José was in line with seasonal expectations, while operations at Fox were impacted by labor and weather-related challenges. With $68.5 million in cash and $61.1 million in working capital at quarter-end, the company remains well-capitalized following a recent $110 million convertible note issuance. A major turning point will come in July with the release of the Los Azules feasibility study, which will shift McEwen Copper's impact from expense to capital asset on the balance sheet. Back in March, Majestic Gold Corp. (TSXV: MJS) (OTCPK: MJGCF) reported strong full-year 2024 results, generating $71 million in revenue and $20.5 million in net income—up 68% from 2023. The company produced nearly 32,000 ounces of gold and ended the year with $100.7 million in cash, while paying out a dividend yielding over 10%. "As we move into 2025, we expect an increase in gold production at the SJG Mine beginning in Q3 2025 and continuing into FY2026, driven by the completion of the SJG open-pit expansion project," said Stephen Kenwood, CEO of Majestic Gold. "With the recent acquisition of a 52% interest in the Mujin Gold Project, we will also begin consolidating Mujin's operations into the Company as of March 1, 2025." With the SJG expansion expected to complete in Q2 2025 and a new 52% stake in the Mujin Gold Project, Majestic is positioning for meaningful growth. Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) produced 28,688 ounces of gold in Q1 2025, generating $82.7 million in revenue and $44.2 million in adjusted EBITDA. "The first quarter of 2025 marked another consecutive quarter of positive net earnings and free cash flow, driven by our unhedged exposure to rising gold prices," said Patrick Downey, President and CEO of Orezone Gold. "Production and costs were in line with expectations with annual guidance being maintained." With $102 million in cash and construction of its hard rock expansion now 45% complete, the company remains on track for a production boost later this year. Backed by strong cash flow and a well-received financing, Orezone is also evaluating a potential fast-track of Phase II's Stage 2. 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. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also 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 MIQ/BAY own shares of Lake Victoria Gold Ltd and 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 MIQ on behalf of 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; 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.
Yahoo
07-05-2025
- Business
- Yahoo
Lake Victoria Gold Announces Results of the Annual and Special Meeting of Shareholders
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) ("Lake Victoria Gold" or the "Company") is pleased to report that at the Annual and Special Meeting of Shareholders of the Company (the "Meeting") held on May 7, 2025, the shareholders elected Marc Cernovitch, Simon Benstead, David Scott, Frank Högel, Seth Dickinson, Dean Comand and Richard Reynolds as directors of the Company. Shareholders also passed ordinary resolutions to appoint D&H Group LLP, Chartered Professional Accountants, as auditor of the Company, and approve a new 10% rolling omnibus equity incentive plan (the "Equity Incentive Plan"). The Equity Incentive Plan, which is subject to final acceptance by the TSX Venture Exchange, allows for the issuance of incentive stock options, deferred share units, performance share units, restricted share units, stock appreciation rights and stock purchase rights (collectively the "Awards"). The maximum number of shares reserved for issuance on exercise of all the Awards granted under the Equity Incentive Plan shall not exceed 10% of the issued and outstanding common shares as at the date of grant of any Award. Following the Meeting, the directors appointed Marc Cernovitch as Chief Executive Officer of the Company, Simon Benstead as Executive Chairman and Chief Financial Officer, David Scott as Managing Director Tanzania, Seth Dickinson as Chief Operating Officer and Nick DeMare as Corporate Secretary. 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 100% interest in the Tembo project which has over 50 thousand meters of drilling and is located adjacent to Barrick's Bulyanhulu Mine. The Company also holds a 100% interest in the Imwelo Project which is a fully permitted gold project west of AngloGold Ashanti's Geita Gold Mine. With historical resource estimates and a 2021 pre-feasibility study, the project is fully permitted for mine construction and production, positioning it as a near-term development opportunity. 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 60% of the shares. Notably, the Company is grateful for the validation that comes with the support and equity investment from Barrick Gold and recent strategic partnership with Taifa Group.
Cision Canada
01-05-2025
- Business
- Cision Canada
With Billionaire Capital Flowing into Gold, Gold Mining Stocks May Be Next in Line for Revaluation
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, May 1, 2025 /CNW/ -- Equity Insider News Commentary – For those paying attention to gold, experts have begun to weigh in on whether or not the precious metal will hit US$4,000 per ounce in 2025. Billionaire hedge fund manager John Paulson, who sees gold near $5,000 by 2028, has signaled that he's ready to reap the rewards from gold mining stocks in this current market, with approximately $840 million invested in the sector currently. Gold miners are on the move, with several recent developments coming out from such players as Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Melkior Resources Inc. (TSXV: MKR) (OTCPK: MKRIF), Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), New Gold Inc. (NYSE-American: NGD) (TSX: NGD), and Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM). The article continued: Following unchanged US Core Personal Consumption Expenditures (PCE) data, gold held its ground above US$3,300, despite some solid selling pressure. Analysts at Morning Star Equity Research continue to tout that the current high gold prices support gold miner stocks, citing that when most miners' share prices fell in the quarter in response to tariffs, gold miners rose. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), an emerging East African gold developer, today announced that it's taken a major step forward at its flagship Tembo Project in Tanzania, signing a non-binding Letter of Intent with Nyati Resources to evaluate a potential small-scale gold development partnership. "We are excited by the potential to leverage existing processing infrastructure and local ore sources to create a scalable gold production platform in Tanzania," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "This proposed partnership aligns with our strategy of unlocking near-term value while continuing to advance our core exploration assets." The proposed joint venture would combine mineralized material from LVG's 100%-owned Mining Licences with Nyati's existing 120 tonnes-per-day processing facility and a second 500tpd plant currently under construction. A new special purpose vehicle (SPV) is contemplated as the operating entity, structured to accommodate Tanzania's 16% free carried interest requirement. The agreement also includes an exclusivity period of 60 days for due diligence and final negotiations. The LOI follows an earlier announcement that LVG was evaluating small-scale development scenarios at Tembo, including joint venture discussions with the operator of a CIP processing facility located within one of the company's four Mining Licences. The company emphasizes that this initiative remains at an early stage and is not based on a current mineral resource estimate or Feasibility Study, and remains subject to significant technical and economic uncertainties. "Tembo has always stood out as a project with the potential to deliver both near-term value and long-term discovery upside," said Simon Benstead, Chairman and CFO of Lake Victoria Gold. "Evaluating this small-scale development opportunity allows us to test the system, generate operational insights, and potentially self-fund ongoing exploration. We believe this approach aligns well with our disciplined strategy and our commitment to responsible, phased development in Tanzania." Located adjacent to Barrick Gold's Bulyanhulu Mine, Tembo has seen over US$28 million in historical exploration, including 50,000 meters of drilling. High-grade targets like Ngula 1, Nyakagwe Village, and Nyakagwe East remain open along strike and at depth. While Tembo is the long-range flagship, LVG's Imwelo Project is positioned to lead in near-term development. Acquired earlier this year, Imwelo is a fully permitted gold project west of AngloGold Ashanti's Geita Gold Mine. A 2021 pre-feasibility study and existing approvals support a potential near-term path to construction. Financially, LVG continues to build flexibility. In late 2024, the company signed a non-binding gold prepay term sheet with Monetary Metals for up to 7,000 ounces—potentially providing over US$20 million in non-dilutive capital. In February, LVG also completed the first tranche of a three-stage strategic investment agreement with Taifa Group, raising C$3.52 million at C$0.22 per share. Richard Reynolds, former CEO of Taifa Mining, has joined LVG's board as part of the partnership. The company also retains exposure to exploration upside through its 2021 deal with Barrick, which includes up to US$45 million in contingent milestone payments. With early development optionality at Tembo, an advancing construction-stage project at Imwelo, and strong strategic partnerships, Lake Victoria Gold is emerging as a standout name in East Africa's junior gold sector. With small-scale development plans underway at Tembo, near-term production potential at Imwelo, and upside exposure through its Barrick partnership, Lake Victoria Gold is steadily carving out a strong position in East Africa's emerging gold sector. In other industry developments and happenings in the market include: Melkior Resources Inc. (TSXV: MKR) (OTCPK: MKRIF) just hit its highest-grade gold result ever at its Carscallen property near Timmins, Ontario—intersecting 77.4 grams per tonne (g/t) of gold over 6.9 meters, including a stunning 1.2 meters at 445 g/t. This new high-grade zone is located in the 1010 South Zone, a newer target area about 1 km from previous drilling success. "These results, the highest ever at the property, not only demonstrate the continuity of the high-grade vein system along strike and down-dip with the best drill intersections attained to date, but also the potential that Carscallen holds when drilling new zones," said Jim Deluce, Director of Melkior. "The newly discovered bonanza grade mineralization at the 1010 Gold Zone, together with our high-grade gold prospects at Zamzam, Jowsey and Shenkman gold showings, truly attest to the upside potential of the area for significant mineral discoveries." Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) recently delivered its own record-breaking drill hit in its Southwest Zone, intercepting 2.44 g/t gold equivalent over 56 meters—the best result from this zone in the company's history. "We are very encouraged by the latest results from the Southwest Zone, which will be the first area mined when production begins," said Justin Reid, CEO of Troilus Gold. "Hole SW-25-688 returned the highest linear-grade intercept drilled to date in this zone, highlighting the continuity of wide, high-grade mineralization in the core of the deposit. Additionally, SW-25-679 encountered strong near-surface grades that could further strengthen the early years of the mine plan. As the campaign progresses, we look forward to sharing more results that continue to improve confidence of the block model, de-risk the early production years, and enhance the overall development plan for the Troilus Project." Troilus plans to continue drilling into mid-May to define more high-grade pockets and test nearby anomalies with potential for even richer ore. New Gold Inc. (NYSE-American: NGD) (TSX: NGD) recently posted a solid first quarter, generating $25 million in free cash flow and confirming it's on track to meet full-year production goals. "The first four months of the year have been exceptionally positive for New Gold in achieving our strategic objectives," said Patrick Godin, President and CEO of New Gold. "We increased our future free cash flow by consolidating our interest in New Afton to 100%. We successfully refinanced and extended our senior notes and extended our credit facility. During the quarter, we also delivered two new Technical Reports outlining strong production profiles with lower costs. Collectively, these milestones are expected to create meaningful value for our shareholders and provide increased financial flexibility and optionality for New Gold moving forward. The company completed key upgrades at both its Rainy River and New Afton mines, setting the stage for stronger production in the second half of 2025. With higher metal prices, strong copper output, and major debt refinanced, New Gold says it's better positioned for growth than it's been in years. Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) kicked off 2025 with strong gold production, low costs, and record adjusted net income of $770 million. Free cash flow topped $594 million, boosting the company's cash reserves to over $1.1 billion and leaving just $5 million in net debt—effectively debt-free. "We've had an excellent start to the year with another quarter of strong operating and financial results," said Ammar Al-Joundi, Agnico Eagle's President and CEO of Agnico Eagle Mines. "This performance has allowed us to further strengthen our balance sheet and has positioned us well for the remainder of the year." Major expansion projects at Canadian Malartic, Detour Lake, and Upper Beaver are all advancing, while exploration drilling continues to return strong gold grades. The company also released its 16th annual Sustainability Report and declared a $0.40 quarterly dividend, underscoring its commitment to both growth and shareholder returns. 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. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also 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 MIQ/BAY own shares of Lake Victoria Gold Ltd and 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 MIQ on behalf of 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; 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.
Cision Canada
24-04-2025
- Business
- Cision Canada
Gold Stocks Are Quietly Outperforming the Rest of the Market
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, April 24, 2025 /CNW/ -- Equity Insider News Commentary – Amid the ongoing volatility on the markets, several gold stocks are surging, with the Top 50 mining companies thriving within the tariff-related chaos. All the while, analysts still believe these gold stocks are not only outperforming the market, but still look undervalued, a sentiment echoed by prominent economist Peter Schiff. Currently there are multiple mining companies making headlines with their recent developments, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), NOVAGOLD Resources Inc. (NYSE-American: NG) (TSX: NG), Dynacor Group Inc. (TSX: DNG) (OTCPK: DNGDF), and Cabral Gold Inc. (TSXV: CBR) (OTCPK: CBGZF). Gold is on a historic run, becoming what Barron's is calling a " light in the investment darkness", pointing to surging demand among not just bankers, but individuals seeking gold bars and coins alike. By the end of the year, Goldman Sachs' analysts note that gold could not only finish over US$3,700/oz, but potentially even rise to as much as $4,000/oz by mid-2026. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) announced today that it's evaluating a small-scale development opportunity aimed at generating early cash flow at its flagship Tembo Project in Tanzania to support its broader exploration strategy, following the recent conversion of its Prospecting License into four Mining Licenses (MLs). Through its local subsidiary MIPCCL, the company is in discussions to form a joint venture with the operator of a privately commissioned CIP processing facility situated within one of Tembo's 4 MLs. "This potential partnership could represent a unique opportunity to establish early, low-capital-cost production from Tembo while continuing to unlock the district's exploration upside," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "We remain committed to advancing Tembo through both strategic exploration and disciplined project development." This initiative is at a preliminary, conceptual stage and is not based on a current mineral resource estimate, nor is it supported by a Feasibility Study that would demonstrate economic or technical viability. Any potential development remains highly speculative and subject to significant technical and economic uncertainties, including grade continuity, metallurgy, permitting, and financing. "Tembo has always stood out as a project with the potential to deliver both near-term value and long-term discovery upside," said Simon Benstead, Chairman and CFO of Lake Victoria Gold. "Evaluating this small-scale development opportunity allows us to test the system, generate operational insights, and potentially self-fund ongoing exploration. We believe this approach aligns well with our disciplined strategy and our commitment to responsible, phased development in Tanzania." Over the past year, LVG has made steady progress advancing its dual-asset strategy in the Lake Victoria Goldfield, one of East Africa's most prospective and historically productive gold regions. The company believes it now has many of the key regulatory, financial, and operational components in place to support a transition from exploration toward phased development—creating both near- and long-term opportunities. Tembo remains the company's long-range flagship. Located immediately adjacent to Barrick Gold's Bulyanhulu Mine, the 100%-owned project has seen over US$28 million in historical exploration investment, including more than 50,000 meters of drilling. Results from targets like Ngula 1, Nyakagwe Village, and Nyakagwe East have identified multiple mineralized structures with high-grade gold intercepts, many of which remain open along strike and at depth. The company is now updating its view of the near-surface potential across those zones in light of its new mining licenses and improving local infrastructure. While Tembo may be the larger prize, the Imwelo Project is likely to lead development. LVG acquired full control of Imwelo earlier this year, and the project already holds a valid Mining License and permits from the Government of Tanzania to move towards development. Located west of AngloGold Ashanti's Geita Gold Mine, Imwelo was previously the subject of an updated pre-feasibility study in 2021 and is now positioned as the company's near-term development candidate. Early-stage development from Imwelo, if successfully advanced, could support ongoing work at Tembo while establishing a local operating presence. Financially, LVG continues to pursue multiple avenues of support. In late 2024, the company signed a non-binding gold prepay term sheet with Monetary Metals —a U.S.-based gold finance firm—for up to 7,000 ounces of gold, subject to conditions precedent. Based on prevailing gold prices, that facility could potentially provide upwards of US$20 million in non-dilutive capital for construction costs. In addition, LVG completed the first tranche of a three-stage strategic investment agreement with Taifa Group, Tanzania's largest mining contractor. The initial C$3.52 million tranche closed in February at a share price of C$0.22. As part of that relationship, Richard Reynolds, former CEO of Taifa Mining, was appointed to the company's board—adding regional and operational depth at the governance level. LVG also retains exposure to future upside through its 2021 deal with Barrick, which saw the company sell six non-core licenses adjacent to Tembo for US$6 million upfront, with up to US$45 million in contingent milestone payments tied to future discoveries. Barrick has been actively drilling on the package since, while LVG retains a back-end interest with no further capital outlay. With early-stage development potential at Tembo, near-term development at Imwelo, and continued exposure to upside through its Barrick deal, Lake Victoria Gold is increasingly well-positioned within the East African junior gold sector. In other industry developments and happenings in the market include: Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) is selling its 50% interest in the Donlin Gold Project to Paulson Advisers and NOVAGOLD Resources Inc. (NYSE-American: NG) (TSX: NG) in a $1 billion cash deal, with NOVAGOLD increasing its stake to 60% and Paulson acquiring 40%. "The Donlin agreement allows Barrick to exit the Donlin Gold Project at an attractive valuation, while allowing NOVAGOLD and Paulson to pursue the development of the project," said Mark Bristow, President and CEO of Barrick. "This is a good example of an instance where an asset we own might be better suited in the hands of others, while we pursue our priority portfolio of Barrick -managed growth projects." The transaction is expected to close in Q2 or Q3 2025, pending regulatory approvals. Under the new structure, NOVAGOLD and Paulson will share governance and management responsibilities for Donlin Gold. "With 39 million ounces of gold at double the industry average grade, and an optimal location in the prime jurisdiction of Alaska — already the second largest gold-producing state in the United States — we believe that the project could create value for decades to come," said John Paulson, head of private investment firm Pauslon Advisers, and Chairman of NOVAGOLD. ". Enjoying excellent social license and formidable exploration upside potential to significantly expand its resources and production profile, Donlin Gold constitutes a superb opportunity for us to gain leverage to gold in the United States at an attractive valuation." Their joint focus will be updating the project's Feasibility Study, expanding drill programs, and maintaining environmental and community stewardship in Alaska's Yukon-Kuskokwim region. Dynacor Group Inc. (TSX: DNG) (OTCPK: DNGDF) achieved record gold sales of $80.0 million in Q1 2025, up 18.2% from the same period in 2024. March sales reached $28.8 million, boosted by a 38% increase in gold price year-over-year. The company's Veta Dorada plant continued operating at full capacity, processing 15,000 tonnes of ore. With gold averaging $2,878 per ounce year-to-date, Dynacor remains on target to hit its 2025 sales guidance of $345–$375 million. Cabral Gold Inc. (TSXV: CBR) (OTCPK: CBGZF) recently returned one of its strongest drill results to date, intersecting 12m @ 27.7 g/t gold (including 5m @ 65.5 g/t) from 42m depth at the Machichie NE target in the Cuiú Cuiú gold district. This new result, combined with past high-grade hits, confirms a mineralized zone extending at least 200m along strike, which remains open at depth and laterally. "These results from RC520 (12m @ 27.7 g/t gold) are amongst the best drill results we have ever received from any target at Cuiú Cuiú, and are further confirmation that a significant zone of bonanza-grade gold mineralization exists at Machichie NE," said Alan Carter, President and CEO of Cabral. "We will continue to aggressively explore the 50+ targets at Cuiú Cuiú where we have gold in boulder fields, trenches and drill holes, whilst advancing our starter gold-in-oxide project which is targeting gold-in-oxide saprolite material. Given the plethora of high-grade values at numerous other targets at Cuiú Cuiú, we expect to make further high-grade discoveries similar to Machichie NE." Machichie NE sits just 150m from the Machichie Main discovery and 650m north of the MG gold deposit. Cabral is currently drilling multiple targets in the area while advancing its gold-in-oxide starter project and updating the broader resource model. CONTACT: Equity Insider [email protected] (604) 265-2873 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. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also 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 MIQ/BAY own shares of Lake Victoria Gold Ltd and 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 MIQ on behalf of 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; 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.
