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Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Analysts See 'Historic Dislocation' Between Gold Prices and Miner Valuations
USA News Group News Commentary Issued on behalf of RUA GOLD Inc. VANCOUVER, BC, June 6, 2025 /PRNewswire/ — USA News Group News Commentary – Gold mining stocks are still too cheap, according to analysts at JP Morgan. In their latest note, JP Morgan tentatively sees $4,100 per ounce gold prices for 2026, and based on that estimate foresees plenty of value in gold mining shares from larger producers all the way down the chain to small- and mid-cap companies. Analysts at Jefferies still think things are out of balance, pointing to a historic valuation gap, with many gold equities still priced as if bullion were stuck at $2,500 an ounce. As gold rises, other analysts are calling for a mining equities breakout, leading to extra attention on miners of all sizes, including RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF), Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF), 1911 Gold Corporation (TSXV: AUMB) (OTCBB: AUMBF), Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI), and Seabridge Gold (NYSE: SA) (TSX: SEA). According to analysts at Goldman Sachs, it's the central banks acting as a driving purchasing force behind the current record-breaking gold bull market, accumulating roughly 80 metric tons of gold a month worth ~$8.5 billion at current prices. With all the global uncertainty and turbulence, it's no surprise to analysts like George Milling-Stanley from State Street Global Advisors that gold will continue to make sense for investors for its attributes and potential. RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF) is advancing a portfolio of high-grade, district-scale gold projects in New Zealand—an emerging exploration hotspot with deep historical roots and modern infrastructure. The company recently announced new high-grade intercepts from its Cumberland project, including 1 metre at 26.9 g/t gold and another at 16.2 g/t, building on a previously returned 62.2 g/t gold, including a standout prior result of 1 metre at 1,911 g/t gold. These hits confirm the near-surface continuity of the Gallant vein system, which became RUA's first drill-tested target generated via VRIFY's AI-powered targeting platform. 'From the very first drill holes, we intersected significant, wide quartz veins hosting high-grade gold, confirming historical intercepts,' said Robert Eckford, CEO of RUA GOLD. 'This marks an exciting start, validating the effectiveness of the VRIFY AI targeting process and confirming near-surface mineralization with the potential to extend the envelope of known mineralization across a 2km structural zone.. It's a major step forward for our hub-and-spoke strategy in Reefton… The Gallant prospect represents the first VRIFY AI target that we have drilled so far. This structure is traceable on surface for over 600m and remains largely untested along strike and at depth.' Gallant sits just 3 km from the historic Globe Progress mine and features steeply dipping quartz veins up to 14 metres thick. Historic drill data from the area includes 20.7 metres of quartz with gold grades reaching 1,911 g/t near surface—highlighting the potential for a shallow, high-grade resource. RUA has now launched a follow-up program stepping 100 metres to the south, with assays pending. Beyond Gallant, RUA GOLD holds commanding control of the Reefton Goldfield, covering roughly 95% of a district that historically produced more than 2 million ounces of gold at grades between 9 and 50 g/t. The Auld Creek project continues to deliver encouraging results as well, with recent intercepts of 9.0 metres at 5.9 g/t gold equivalent and 1.25 metres at 48.3 g/t. Notably, only two of the four known mineralized shoots are currently included in the working model. Previous drilling has returned 12 metres at 12.2 g/t gold equivalent, including a 2-metre stretch at 54.8 g/t. Infographic – Auld Creek also hosts significant antimony mineralization—an increasingly strategic metal trading above US$50,000 per tonne. Surface samples have shown grades above 40% antimony, and drill holes have returned multiple intercepts over 8%. The New Zealand government's early 2025 declaration of antimony as a critical mineral further elevates the project's dual-metal value proposition. On the North Island, RUA GOLD is progressing its Glamorgan project in the Hauraki Goldfield, where a second surface campaign outlined three distinct gold-arsenic anomalies across a 4-kilometre corridor. Rock chip sampling returned up to 43 g/t gold, and CSAMT geophysical surveys identified resistive zones typical of quartz-rich vein systems. Drill access is in the final stages of approval, with targets prioritized through VRIFY's DORA AI engine. Backed by $5.75 million in capital and led by a leadership team with over $11 billion in past mining exits, RUA GOLD is aiming to uncover high-grade discoveries in underexplored terrain. With multiple active programs, AI-guided targeting, and a pipeline of assays and agreements on the horizon, the company is positioning itself as one of New Zealand's most advanced early-stage gold explorers heading into 2025. CONTINUED… Read this and more news for RUA GOLD at: In other industry developments and happenings in the market include: Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) recently intersected 7.0 metres grading 10.3 g/t gold equivalent (including 2.0 metres at 14.3 g/t AuEq) at its Wild Dog project in Papua New Guinea. 'The first drill results from our Phase 1 drill program at Wild Dog did not disappoint,' said Greg McCunn, CEO of Great Pacific Gold. 'We now have a drill rig on the ground, a highly experienced technical team, and the infrastructure support in place to explore the potential of this system.' The intercept came from WDG-02, drilled beneath a historic pit, confirming the presence of high-grade sulphide mineralization near surface. The current 2,500-metre drill campaign spans 16 planned holes across a 3-kilometre segment of a 15-kilometre target zone. Assays are pending from WDG-03, and hole WDG-04 is now in progress. 1911 Gold Corporation (TSXV: AUMB) (OTCBB: AUMBF) continues to expand its San Antonio West target at the True North project, returning standout grades such as 1.0 metre at 62.40 g/t gold and 2.1 metres at 8.81 g/t. 'These follow-up holes at the San Antonio West target show evidence of several shear structures and also higher grades as we extend drilling to depth,' said Shaun Heinrichs, CEO and President of 1911 Gold. 'The results continue to show another parallel ore shoot to the San Antonio Mine vein system, similar to what we are seeing on the San Antonio Southeast target.' The zone, hosted within the historically productive San Antonio gabbro, now shows gold mineralization across three parallel vein systems traced over 500 metres laterally and 260 metres vertically. The program supports the presence of a new ore shoot west of the historic San Antonio Mine, bridging toward the Cartwright resource. With 39 holes drilled to date and a 30,000-metre campaign planned, the company is prioritizing underground access and resource expansion. Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI) is advancing its Diamba Sud Project with fresh intercepts from the Southern Arc prospect, where drilling returned 13.6 meters at 8.6 g/t gold and 11.8 meters at 9.3 g/t. Infill drilling at nearby deposits also yielded high-grade intervals, such as 113.7 g/t gold over 6.4 meters at Area D and 28.8 meters at 3.0 g/t at Area A. 'Our exploration work at Diamba Sud continues to yield strong results, particularly from areas with limited historical drilling,' said Paul Weedon, Senior Vice President of Exploration at Fortuna Mining Corp. 'These results further reinforce the project's potential for near-term resource growth.' Exploration remains active across several zones, including Moungoundi and Western Splay, where mineralization appears open along strike and at depth. All results will be included in the next resource update. Seabridge Gold (NYSE: SA) (TSX: SEA) has begun drilling at Snip North, a new copper-gold porphyry discovery at its Iskut Project in northwest British Columbia. 'Last year's discovery at Snip North has given us clear direction on where to focus to deliver new resources in this year's program,' said Rudi Fronk, Chairman and CEO of Seabridge Gold. 'We are also targeting the source intrusion for this prospective resource which we expect to be rooted in a district-scale structural trend, named the Bronson Trend.' The company plans to complete 8,000 metres of core drilling using three helicopter-portable rigs, targeting a maiden resource estimate and deeper source intrusions. Exploration will also assess other porphyry prospects within the district-scale Bronson Trend, where recent geophysics and mapping indicate multiple mineralized systems. The $13.4 million program builds on last year's success and reflects Seabridge's broader strategy to uncover large-scale porphyry systems beyond KSM. Article Source: CONTACT: USA NEWS GROUPinfo@ 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 contract with RUA Gold Inc. (forty five thousand dollars Canadian for a three month contract subject to the terms and conditions of the agreement from the company direct). MIQ has not been paid a fee for RUA Gold Inc. 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 RUA Gold Inc. 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 does not own any shares of RUA Gold Inc. but reserve the right to buy and sell, and will buy and sell shares of RUA Gold Inc. 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 RUA Gold Inc. Technical information relating to RUA GOLD Inc. has been reviewed and approved by Simon Henderson, CP, AUSIMM, a Qualified Person as defined by National Instrument 43-101. Mr. Henderson is Chief Operational Officer of RUA GOLD Inc., and therefore is not independent of the Company; this is a paid advertisement, we currently do not own any shares of RUA Gold Inc. but will likely 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:
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. 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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. 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