Latest news with #Nyati
Cision Canada
16-05-2025
- Business
- Cision Canada
While Majors Ride Momentum, Smaller Gold Stocks Are Building Something Bigger
VANCOUVER, BC, May 16, 2025 /CNW/ -- Despite a short-lived correction earlier this week, gold prices quickly recovered in what's being called uncertainty-fueled " gold fever". While major gold miners reaped the benefits of a strong Q1 gold price performance, gold stocks of all sizes are moving the needle with developments of their own, including recent updates from Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Gold Resource Corporation (NYSE-American: GORO), Contango Ore, Inc. (NYSE-American: CTGO), Vox Royalty Corp. (NASDAQ: VOXR), and SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM). According to DoubleLine Capital CEO Jeff Gundlach (better known as "Bond King"), ongoing gold price rally isn't over, as the precious metal could climb as high as $4,000 per ounce. JPMorgan analysts recently made waves with a bold outlook, suggesting that if just 0.5% of U.S.-held foreign assets shifted into gold, prices could climb as high as $6,000 per ounce by 2029, while Goldman Sachs believes we could see spikes as high as $4,500 this year alone. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is quietly advancing its gold ambitions in Tanzania with a practical, near-term approach. The company recently brought in Nesch Mintech Tanzania —a respected third-party firm— to help evaluate a local gold processing plant that could play a key role in early production. This comes on the heels of a non-binding Letter of Intent (LOI) with Nyati Resources to explore a small-scale development pathway. Nesch's review will assess how ready the plant is to run, how much gold it's likely to recover, and what upgrades might unlock even better results. "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." If the partnership moves forward, LVG would begin sending mineralized material from its fully owned Mining Licences to be processed at Nyati's 120-ton-per-day plant, alongside a new 500-ton-per-day facility that's nearly ready. Together, these two plants could form the backbone of a centralized gold processing hub—giving both companies a faster, lower-capex path to first production. "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-stage and not yet backed by a current resource estimate or Feasibility Study, the proposed initiative gives LVG a chance to test its geology in a real-world setting. As with any small-scale venture, key risks remain—especially around grade consistency, metallurgy, permitting, and successful, this low-cost strategy could unlock near-term cash flow and help fund further exploration. The agreement with Nyati builds on LVG's earlier announcement that it was exploring small-scale development options at its flagship Tembo Project, located right next to Barrick's high-grade Bulyanhulu mine. Tembo is no stranger to serious exploration, with over US$28 million already invested and more than 50,000 metres of drilling completed. Several key zones—including Ngula 1, Nyakagwe Village, and Nyakagwe East—remain open along strike and at depth, underscoring the project's long-term growth potential. "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." LVG continues to build momentum by aligning capital, partnerships, and near-term development opportunities. While Tembo remains the company's long-term discovery engine, its newly acquired Imwelo Project is the most advanced asset in the pipeline. Fully permitted and supported by a 2021 pre-feasibility study, Imwelo is located near AngloGold Ashanti's Geita Mine and appears well suited for streamlined development and construction.. To help advance development, Lake Victoria Gold 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 gold production at a discount, aligning repayment with the project's output. The structure allows LVG to access value equivalent to up to 7,000 ounces of gold, with proceeds earmarked for construction and early development work. In early 2025, the company also closed a C$3.52 million investment tranche from Taifa Group at C$0.22 per share, part of a broader C$11.52 million three-stage financing. As part of that partnership, former Taifa CEO Richard Reynolds joined LVG's board, bringing additional regional experience and leadership. Looking ahead, LVG also holds a milestone-based earn-in agreement with Barrick worth up to US$45 million, tied to future exploration success at Tembo. With plant audits in progress, a joint venture under review, and a growing financial toolkit, Lake Victoria Gold is positioning itself as one of the more compelling junior developers in East Africa. In other industry developments and happenings in the market include: Gold Resource Corporation (GRC) (NYSE-American: GORO) faced a challenging first quarter at its Don David Gold Mine in Mexico, where limited access to mining zones and worn-out equipment dragged down output. "While production was lower in Q1 2025 than in prior quarters, we're now seeing strong early traction," said Allen Palmiere, President and CEO of GRC. "We secured additional capital through ATM sales and received the anticipated tax refund, strengthening our balance sheet and placing us in a better position to move forward with the development of the Three Sisters system. We're also advancing contractor negotiations to fast-track access to new zones. These initiatives are part of a disciplined execution plan—and we're confident in our ability to deliver anticipated results." On the positive side, GRC secured $8.6 million through financing and asset sales, plus a $4 million tax refund, improving short-term liquidity. Management sees promising potential in the Three Sisters system, but new investment is crucial to avoid disruptions and return to positive cash flow. Contango Ore, Inc. (NYSE-American: CTGO) delivered a strong Q1 2025, reporting $19.3 million in income from operations and selling over 17,000 ounces of gold from its Manh Choh joint venture. With all-in sustaining costs of $1,374 per ounce—well below target—and $33 million in cash distributions, the company enters Q2 on solid footing. Contango also announced encouraging early economics for its Johnson Tract project, which could mirror the success of Manh Choh. "Gold production from the first campaign of 2025 continued into the second quarter with a further 3,810 ounces in recoverable inventory at the end of the quarter," said Rick Van Nieuwenhuyse, President and CEO of Contango. "During the quarter we delivered almost 12,000 ounces to the hedge contract using the Carry Trade, effectively reducing our hedge balance to 74,800 ounces." Vox Royalty Corp. (NASDAQ: VOXR) has added another cash-generating asset to its portfolio with the acquisition of a 2.5% royalty on the producing Kanmantoo copper-gold mine in South Australia. The $11.7 million deal is fully funded and gives Vox immediate exposure to monthly royalty payments from an active underground operation. With production ramping up and major exploration underway, Kanmantoo enhances both the near-term revenue and long-term upside of Vox's royalty platform. "Based on Hillgrove's production forecasts for 2025, the Kanmantoo 2.5% royalty is expected to generate over $3 million of annualized royalty revenue," said Kyle Floyd, CEO of Vox. "We believe the Kanmantoo asset provides our investors with exceptional exposure to a royalty that has both strong current production and growth potential in terms of mine life and mill utilization." SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) posted a strong start to 2025, reporting $58.8 million in net income and $84.8 million in operating cash flow for Q1 2025, supported by over 103,000 gold equivalent ounces produced across its global portfolio. "We are well on track for full-year consolidated production and cost guidance, and are positioned to generate strong free cash flows through the remainder of the year," said Rod Antal, Executive Chairman of SSR. "We look forward to advancing optimization and possible expansion opportunities at CC&V through the remainder of 2025." The newly acquired CC&V mine contributed as expected, with further optimization planned for the months ahead. Excluding the suspended Çöpler operation, AISC dropped to $1,749 per ounce, giving SSRM a solid cost base heading into the rest of the year. 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
14-05-2025
- Business
- Cision Canada
With Forecasts Hitting $4,000 to $6,000, Gold Mining Sector Sees Renewed Investor Focus
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, May 14, 2025 /CNW/ -- After a (very) short honeymoon period that followed the latest US-China trade agreement, the price of gold recovered as quickly as euphoria over the trade deal faded. According to DoubleLine Capital CEO Jeff Gundlach (better known as "Bond King"), ongoing gold price rally isn't over, as the precious metal could climb as high as $4,000 per ounce. Now with the current gold price creating a new normal, gold miners are managed to bridge the discount gap to bullion, and overcome rising production costs. Several miners and developers have been providing updates worthy of extra market attention, including from Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), K92 Mining Inc. (TSX: KNT) (OTCQX: KNTNF), AngloGold Ashanti plc (NYSE: AU), G Mining Ventures (TSX: GMIN) (OTCQX: GMINF), and Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF). JPMorgan analysts recently made waves with a bold outlook, suggesting that if just 0.5% of U.S.-held foreign assets shifted into gold, prices could climb as high as $6,000 per ounce by 2029. At the same time, jewelry retailers across the U.S. are reporting a sharp rise in gold buying, showing that retail demand is starting to catch up with Wall Street sentiment. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), a junior gold developer focused on East Africa, is making steady progress on its near-term development plans in Tanzania. The company has brought in Nesch Mintech Tanzania, a third-party auditor, to support the upcoming commissioning of Nyati Resources' gold processing plant, anticipated to begin in June. This move follows a non-binding Letter of Intent between LVG and Nyati, exploring the potential for a small-scale development partnership. Nesch will evaluate the plant's operational readiness, review projected recovery rates, and identify areas for optimization as Nyati prepares to activate a second processing circuit. "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." Under the proposed partnership, LVG would send mineralized material from its 100%-owned Mining Licences to be processed at Nyati's existing 120 tpd plant and a new 500 tpd facility now nearing completion. This expansion would establish the foundation for a centralized gold processing hub under the proposed joint venture between LVG and Nyati. "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 this concept remains at an early stage and is not supported by a current mineral resource estimate or Feasibility Study, any potential small-scale development is speculative and subject to key risks, including grade continuity, metallurgy, permitting, and financing. That said, the initiative offers Lake Victoria Gold (LVG) an opportunity to test its geological model directly in the field. If successful, this low-capex approach could generate early cash flow and support ongoing LOI with Nyati follows LVG's previous disclosure that it was evaluating small-scale development at its Tembo Project, located beside Barrick's high-grade Bulyanhulu Mine. Tembo has already seen more than US$28 million in exploration and over 50,000 metres of drilling. Key targets—such as Ngula 1, Nyakagwe Village, and Nyakagwe East—remain open along strike and at depth, highlighting the project's strong upside potential. "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." LVG continues to align capital and strategic partnerships as it moves closer to construction. While Tembo offers long-term exploration upside, LVG's Imwelo Project (acquired earlier this year) currently stands as its most advanced asset, backed by a 2021 pre-feasibility study and full permitting. Located near AngloGold Ashanti's (NYSE: AU) Geita Mine, Imwelo is well positioned for streamlined development. To support this, the company signed a non-binding gold prepay term sheet with Monetary Metals in late 2024. The deal offers upfront capital in exchange for a share of future gold production at a discount—providing non-dilutive financing aligned with the project's production schedule. The term sheet outlines access to the value of up to 7,000 ounces of gold, earmarked for construction and development. In February 2025, LVG also secured a C$3.52 million investment tranche from Taifa Group at C$0.22 per share, which was part of a larger C$11.52 million three-tranche financing. As part of the deal, former Taifa CEO Richard Reynolds joined the company's board. Additional upside remains through a US$45 million milestone-based agreement with Barrick tied to future success at Tembo. With commissioning audits underway, a potential joint venture in due diligence, and a growing financial runway, Lake Victoria Gold is steadily positioning itself as a leading junior developer in East Africa. In other industry developments and happenings in the market include: K92 Mining Inc. (TSX: KNT) (OTCQX: KNTNF) delivered record Q1 2025 results, reporting its highest-ever revenue, net income, cash flow, and EBITDA, driven by strong gold grades and favorable recoveries. The company produced 47,817 ounces of gold equivalent at an all-in sustaining cost of $1,010 per ounce and ended the quarter with a record net cash position of $123 million. Construction on its Stage 3 expansion plant is nearing completion, with commissioning expected in Q2, while exploration ramped up at Arakompa with several high-grade intercepts. " K92 has delivered a strong start to 2025, continuing the positive momentum from the second half of 2024, with robust operational and financial results across the board," said John Lewins, CEO and Director of K92. "Q1 marked our second-highest production quarter. Combined with the record gold price environment, it resulted in record revenue, net income, EBITDA, and operating cash flow." AngloGold Ashanti plc (NYSE: AU) also reported a powerful first quarter in 2025, with gold production rising 22% year over year and free cash flow surging 607% to $403 million. Headline earnings jumped 671% to $447 million, driven by stronger gold prices, the integration of the Sukari mine, and improved performance at key operations like Siguiri and Tropicana. "This is a very strong start to the year, particularly at our managed operations," said Alberto Calderon, CEO of AngloGold Ashanti. "We've seen strong growth in production with the addition of Sukari and our cost control efforts continue to offset inflation, which has ensured that we capture the benefit of the higher gold price." G Mining Ventures (TSX: GMIN) (OTCQX: GMINF) recently released a robust feasibility study for its high-grade Oko West Gold Project in Guyana, outlining a 12.3-year mine life with average annual production of 350,000 ounces at an all-in sustaining cost (AISC) of $1,123 per ounce. At a base case gold price of $2,500 per ounce, the project delivers an after-tax NPV5% of $2.2 billion and an IRR of 27%, with payback in just under three years. Early construction is already underway following the receipt of an interim environmental permit, with a final construction decision expected in the second half of 2025. "The Oko West Feasibility Study marks a major milestone in realizing the value of what we consider one of the world's most exciting undeveloped gold projects," said Louis-Pierre Gignac, President and CEO of G Mining. "It confirms a long-life, high-margin operation with strong economics, supported by a proven resource and solid infrastructure." Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) recently made multiple new high-grade ore shoot discoveries at its Tahuehueto gold-silver mine in Durango, Mexico, following results from nine new underground drill holes. Highlights include intercepts of 9.4 meters grading 5.21 g/t gold equivalent and 4.8 meters at 5.62 g/t AuEq, confirming new mineralized zones near existing mine workings. "The discovery of multiple new high-grade ore shoots so quickly into this new exploration program confirms the robust nature of the Tahuehueto epithermal vein system and the potential to add immediate value to this asset," said Paul D. Gray, VP Exploration of Luca. "The fact that the current drilling program has consistently intersected well-mineralized veins in previously untested areas also confirms the Company's exploration approach and moreover speaks to the larger potential of the Tahuehueto mineralized system." The results are expected to expand near-term resources and inform updated mine plans, with a second 5,000-meter drilling phase and surface exploration at the Santiago Deposit now underway. 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
08-05-2025
- Business
- Cision Canada
Fresh Cash, Scalable Projects, and New Discoveries: What the Smart Money Is Watching in Gold
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, May 8, 2025 /CNW/ -- Equity Insider News Commentary – So far in 2025, gold has twice touched the remarkable $3,400 per ounce mark— first in April and again this week —raising the question of just how far this rally could go. Bloomberg Intelligence's Senior Commodity Strategist Mike McGlone suggests the widening gap between oil and gold prices signals not only recessionary pressure, but also a potential surge to $4,000 gold. Meanwhile, industry veteran Rob McEwen believes investor momentum could carry gold even higher, forecasting a rush back into mining equities and a possible run to $5,000 per ounce. Against this backdrop, several gold companies have issued timely updates, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Kinross Gold Corporation (NYSE: KGC) (TSX: K), SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM), Dundee Precious Metals Inc. (TSX: DPM) (OTCPK: DPMLF), and New Found Gold Corp. (NYSE-American: NFGC) (TSXV: NFG). Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), a junior gold developer focused on East Africa, continues to advance its near-term development strategy in Tanzania. A third-party commissioning auditor, Nesch Mintech Tanzania, has been formally retained and will participate in the commissioning process at Nyati Resources' gold processing plant expected in June. This follows the signing of a non-binding Letter of Intent between LVG and Nyati for a potential small-scale development partnership. Nesch has been engaged to assess plant readiness, recovery rates, and potential optimization opportunities as Nyati prepares to bring a second processing unit online. "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." Combined with the existing 120 tpd facility, the expansion is expected to deliver a total capacity of 620 tpd—laying the groundwork for a centralized gold processing hub under the proposed joint venture with LVG and MIPCCL. "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." Under the proposed partnership plan, mineralized material from LVG's 100%-owned Mining Licences would be processed through Nyati's 120 tpd facility and a second 500 tpd expansion plant currently being finalized—creating a centralized processing hub. The audit by Nesch Mintech is a critical next step in validating that vision. The company notes that it is not underpinned by a current mineral resource estimate or Feasibility Study and remains subject to meaningful technical and economic risks. This collaboration offers LVG a chance to test key assumptions in the field and potentially self-fund continued exploration. The Nyati LOI builds on LVG's earlier disclosure that it was exploring small-scale development opportunities at its Tembo Project, within the company's four Mining Licences. Located adjacent to Barrick's Bulyanhulu Mine, Tembo has already seen more than US$28 million in historical exploration, including over 50,000 metres of drilling. Targets like Ngula 1, Nyakagwe Village, and Nyakagwe East remain open at depth and along strike—underscoring the project's long-term discovery potential. "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. We believe this approach aligns well with our disciplined strategy and our commitment to responsible, phased development in Tanzania." While Tembo provides strategic upside, LVG's Imwelo Project (acquired earlier this year) remains more advanced of the company's asset portfolio. Fully permitted and supported by a 2021 pre-feasibility study, Imwelo is positioned for streamlined development near AngloGold Ashanti's Geita Mine. The company continues to align capital and partnerships to advance toward construction. To that end, LVG secured a non-binding gold prepay term sheet with Monetary Metals in late 2024. The arrangement provides upfront capital now, in exchange for delivering a portion of future gold production at a modest discount. This non-dilutive structure aligns repayment with LVG's production timeline and outlines access to the value of up to 7,000 ounces of gold—helping fund construction and development at the Imwelo Project. In February 2025, the company also completed a C$3.52 million investment tranche with Taifa Group at C$0.22 per share as part of a greater three-tranche C$11.52 million financing. Along with the deal, it brough in former Taifa CEO Richard Reynolds onto LVG's board. Further upside remains through a 2021 agreement with Barrick, which outlines up to US$45 million in milestone-based payments tied to success at Tembo. With commissioning audits scheduled, a potential joint venture moving through due diligence, and potential funding agreements in place, Lake Victoria Gold continues to build momentum as one of East Africa's most dynamic emerging gold developers. In other industry developments and happenings in the market include: Kinross Gold Corporation (NYSE: KGC) (TSX: K) kicked off 2025 with strong results, more than doubling its free cash flow year-over-year to $370.8 million and boosting margins by 67% to $1,814 per ounce sold. The company reaffirmed full-year guidance and ramped up shareholder returns, targeting $650 million in buybacks and dividends. With $2.3 billion in total liquidity, Kinross is advancing key projects like Great Bear and Round Mountain Phase X while maintaining a strong balance sheet. "Our culture of technical excellence and financial discipline, complemented by our consistent operating performance, continues to drive strong margins and cash flow, all of which underpin our capital allocation strategy," said J. Paul Rollinson, CEO of Kinross. "We continue to advance our pipeline of high-quality development projects and exploration opportunities across our broader portfolio with a focus on driving value for our shareholders through this decade and beyond." SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) recently delivered first-quarter 2025 production of 103,805 gold equivalent ounces and generated $84.8 million in operating cash flow, with adjusted net income reaching $61.6 million or $0.29 per share. The company officially added Cripple Creek & Victor (CC&V) to its portfolio in late February, contributing to a seamless quarter despite Çöpler remaining offline. "We are well on track for full-year consolidated production and cost guidance, and are positioned to generate strong free cash flows through the remainder of the year," said Rod Antal, Executive Chairman of SSR Mining. "In Türkiye, initial development activities continued at Hod Maden in the quarter, while efforts at Çöpler remain focused on advancing the operation towards a potential restart." SSR ended the quarter with $319.6 million in cash and $819.6 million in total liquidity. Dundee Precious Metals Inc. (TSX: DPM) (OTCPK: DPMLF) generated $79.1 million in free cash flow in Q1 2025 and returned a record $90.4 million to shareholders through dividends and share repurchases. The company produced nearly 50,000 ounces of gold and 5.9 million pounds of copper, reaffirming guidance for the year. With $763 million in cash and no debt, Dundee is advancing feasibility work on Čoka Rakita in Serbia and Loma Larga in Ecuador. "Our 55,000-metre drilling program focused on testing high priority targets proximal to our Čoka Rakita project is advancing well, with 14 drill rigs currently in operation," said David Rae, President and CEO of Dundee. "The drilling program continues to expand the copper-gold Dumitru Potok discovery, and we have yet to define its limits as it remains open in multiple directions and at depth." New Found Gold Corp. (NYSE-American: NFGC) (TSXV: NFG) continues to demonstrate the depth potential of its Queensway Gold Project, with standout intercepts including 38.7 g/t Au over 6.55 m at Dome and 10.3 g/t Au over 8.20 m at Keats South Deep. These new results lie outside the project's initial mineral resource estimate and show growing scale at depth, with visible gold present in multiple deep holes. "At Dome we are finding new high-grade gold mineralization within 250 m of surface," said Melissa Render, President of New Found Gold. "The Phase I deep drilling at KSD and Keats-AFZ Deep, located well below the initial mineral resource, has begun to define new zones more than a kilometre below surface, pointing to the depth potential at Queensway." With Phase I deep drilling now complete, New Found Gold is planning its 2025 program focused on near-surface resource conversion and expansion around recent discoveries. 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. 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Daily Maverick
28-04-2025
- Business
- Daily Maverick
Eskom bets big on renewables with new ‘green' subsidiary
Eskom, with its generation capacity historically dominated by coal technology, is making clear its intentions to enter and compete in the renewable energy sector with a planned new entity. In a presentation to Parliament's portfolio committee on energy and electricity, Eskom shared more details about its strategy to be a player in the renewable energy sector. The utility's executive was briefing members on their strategic corporate plan for 2025-2030, their shareholder compact for 2025-2026 and budget for 2025-2026. Eskom board chairperson Mteto Nyati explained that one of the utility's four strategic objectives was to 'facilitate a competitive future energy industry'. As part of this, Eskom aims to significantly increase its renewable energy portfolio, committing to around 5.90GW of clean energy projects by 2030. A part of this objective includes the accelerated establishment of Eskom Green Co, the company's renewable energy business. Eskom Green will be one of the four unbundled entities that will fall under the Eskom holding company. The other companies are National Transmission Company of South Africa, which is already a legal entity, National Electricity Distribution Company of South Africa and Eskom Generation, which are due to be legally separated next. 'We have embraced, as Eskom, the renewables agenda,' said Nyati. 'In the past, our strategy involved only us managing the current fleet and not participating in new generation capacity. 'That has changed. We are going to be participating in renewables in a big way, and we have already started to operationalise a business unit that makes us to be a relevant player within the space.' Almost two weeks ago, Eskom issued an invitation to tender for 'firms with a proven track record in establishing renewable energy businesses' to help it start this process. It said the objective of Eskom Green Co would be to 'operate independently of the main Eskom entity to allow for greater governance agility, competitive market positioning and enhanced Public-Private Partnerships (PPPs)'. Eskom, in a statement, said it had an 'executable initial pipeline' of at least 2GW of low and zero-carbon energy projects by 2026 and had developed a pipeline of more than 20GW of low and zero-carbon energy projects to diversify its energy mix. It plans to 'realise' roughly 5.9GW of renewable energy projects by the end of this decade. At Friday's meeting, DA MP Kevin Mileham asked for more information about the proposed new entity. 'Why are we breaking out a new entity when it's clearly part of generation? It's a division of generation. It's not a new entity. I mean, nuclear is not an entity by itself. Coal is not an entity by itself. Why is Green Co or Eskom Green a new entity? Why is it going to have its own board of directors? Why is it going to have its own finance team? Why is it going to have its own legal team and HR team, and things like that? 'Aren't we just duplicating already existing personnel capacity infrastructure and therefore increasing our costs?' In response, Eskom CEO Dan Marokane explained that the unbundling was an operationally motivated decision. 'I want to address the issue that deals with the structure of Eskom going forward, as to why are we having a separate green entity, why is it not within generation?' 'These are all aspects that are operational, that deal with how we bring into reality the strategic intent that we have. Our strategic intent is to unbundle to set up separate entities that will be efficient in their part of the value chain,' said Marokane. The new green generation part of Eskom's business, he explained, 'is an entity that is required to enable us to unbundle the generation business in a manner that does not make us run the risk of losing all the licences. These are operational matters about structuring and how to set up these transactions in a manner that allows the realisation of the objectives. 'The renewables business is going to be a different business in terms of thinking. It will involve partnerships so that Eskom's balance sheet is not the only one that is exposed. We can't afford to go to the previous levels of debt. So we'll do business as a transaction with others, with their money, on our land, with our people, using our skills and choosing to de-risk those projects because it will be in a competitive world. 'So how it's structured needs to enable that kind of a setup in line with the mandates that we're seeking to have.' DM
Yahoo
16-04-2025
- Health
- Yahoo
Como Park western lowland gorilla euthanized
The Brief Nyati, a western lowland gorilla that was born at Como Zoo in 2017, was euthanized this week. Zoo officials say Nyati was "humanely euthanized" following a medical assessment that confirmed a significant decline in quality due to long-term neurological complications. Nyati was one of a family troop of western lowland gorillas at Como — a species that is considered "critically endangered" due to habitat loss, poaching and disease outbreaks. ST. PAUL, Minn. (FOX 9) - A western lowland gorilla named Nyati, who was born at Como Zoo in October 2017, has been euthanized, according to zoo officials. What we know In an announcement on Wednesday, Como Park Zoo & Conservatory officials say Nyati was "humanely euthanized" the day following a medical assessment that confirmed a significant decline in quality of life due to long-term neurological complications. According to the zoo, medical challenges began in 2020 for Nyati, after she was diagnosed with Baylisascaris procyonis, also known as Baylis – a parasitic infection likely contracted through environmental exposure at a young age. During the past five years, Como says its team provided extensive support, including targeted medications and physical therapy for Nyati, but the parasite caused permanent brain lesions that led to progressive degeneration of her coordination, mobility and motor skills. What they're saying "Nyati was deeply loved, not just by her care team, but by everyone who came to know her," said Wes Sims, Director of Animal Care and Health at Como Zoo, in a statement. "Her life was shaped by medical challenges, but also by resilience, thoughtful care, and compassion. The decision to let her go was extremely difficult, but it was the most humane option for her." "Nyati had a gentle presence and a quiet strength," said Jill Erzar, Senior Zookeeper, in a statement. "Even with her limitations, she continued to interact with her family and move through her space in her own way. She taught us a great deal about patience, adaptation, and care." Dig deeper Como Zoo has a family troop of western lowland gorillas, with Nyati being the daughter of Schroeder and Alice, while living alongside her parents and fellow troop members: Nne and Dara, and Dara and Schroeder's offspring, Arlene. Western lowland gorillas are native to central and western Africa and are listed as "critically endangered" due to habitat loss, poaching and disease outbreaks. Como participates in conservation efforts and Species Survival Plan (SSP) programs to help protect and preserve this incredible species, the zoo says. The Source Information provided by Como Park Zoo & Conservatory officials.
