Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – USA News Group News Commentary – The precious metal touched an all-time high of $4,391.49 per ounce on October 17, and despite a recent pullback, gold remains firmly above $4,200 per ounce in mid-November, delivering returns that have left production costs in the dust[1]. While bullion surged more than 50 percent in 2025, driven by central bank accumulation and persistent inflation hedging demand, mining equities continue trading at valuations that suggest gold prices closer to $2,500 per ounce, creating a widening disconnect between metal performance and miner valuations[2]. This gap positions producers with operating leverage to benefit disproportionately as analysts revise earnings models upward, with current macro conditions favoring names like Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Hycroft Mining Holding Corporation (NASDAQ: HYMC), Orla Mining Ltd. (NYSE: ORLA) (TSX: OLA), i-80 Gold Corp. (NYSE: IAUX) (TSX: IAU), and Equinox Gold Corp. (NYSE-American: EQX) (TSX: EQX).
Goldman Sachs raised its December 2026 gold forecast to $4,900 per ounce in early October, citing structural demand from central banks and Western ETF inflows, yet Wall Street equity analysts continue modeling conservative price assumptions that lag spot market realities by hundreds of dollars per ounce[3]. This creates immediate upside potential as earnings revisions accelerate through year-end, particularly for development-stage producers positioned to capture expanding margins without the burden of legacy high-cost operations inherited during weaker price environments.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is positioning itself as Tanzania’s next gold producer with its fully permitted Imwelo Gold Project in the Geita Greenstone Belt, one of the country’s most productive gold regions. The company has announced the mobilization of a second drill rig to fast-track completion of a 4,000-metre drilling program at Area C, the highest-grade zone identified at the project and the designated starter pit.
The first three holes of the program are now complete, with the first two submitted for assay and results anticipated in the coming days. Adding a second multipurpose rig enables LVG to maintain continuous drilling results through November and December as the company refines final pit design and advances production readiness. The expanded program is targeted for completion by mid-December 2025.
“Momentum continues to build at Imwelo,” said Marc Cernovitch, President and CEO of Lake Victoria Gold. “We’ve completed three holes with assays pending on the first two, and with a second rig now on site, we’re moving quickly to deliver continuous results through November and December as we refine the final pit design and advance toward production readiness.”
The drilling campaign at Area C is structured to achieve several pre-construction objectives, including definitive pit design with engineering inputs, upgrading classification of historical gold resources, testing for extensions beyond mapped zones, developing operational mining schedules, and refining gold recovery optimization strategies.
“Drilling at Area C is progressing well, and we’re very encouraged by what we’re seeing in the core to date,” said Hendrick Mering, Exploration Manager for Lake Victoria Gold. “The first three holes have intersected multiple zones of quartz veining and alteration consistent with our modeled mineralized horizons.”
The initial hole extended deeper than previous drilling, testing Area C mineralization at approximately 120 metres depth along the western edge of the zone. Historical assays from this area include 6.8 metres at 14.6 g/t gold at 32m and 2.0 metres at 7.5 g/t from 22m, demonstrating production-grade gold potential at surface.
The drilling acceleration comes on the heels of two significant regulatory achievements. Lake Victoria Gold recently reached an agreement in principle with the Government of Tanzania regarding the statutory minimum 16% free carried interest framework. Additionally, the company secured environmental approval of its Updated Environmental and Social Management Plan, removing regulatory barriers to construction advancement.
Imwelo is situated just 12 kilometers from AngloGold Ashanti’s flagship Geita mine and holds a 10-year renewable mining license. With metallurgical recoveries exceeding 90%, the company is targeting first gold production within 12 months of construction commencement.
On the financing front, momentum accelerated through the closing of an oversubscribed $6 million financing in September, immediately followed by a concurrent $2 million private placement. The combined capital supports work programs designed to activate the pre-paid forward purchase facility with Monetary Metals, pursuing non-dilutive construction financing.
The company’s Tembo Project provides additional optionality through a planned 3,000m drilling program at Ngula 1, where historical intercepts of 28.57 g/t gold over 3 metres indicate immediate toll milling potential. LVG maintains exposure to up to US$45 million in contingent milestone payments from the 2021 asset sale to Barrick’s Bulyanhulu operation. With gold recently surpassing $4,300 per ounce for the first time in October, Lake Victoria Gold is developing a fully permitted project in one of Africa’s premier gold districts at a time when high-grade ounces command exceptional value.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
In other industry developments and happenings in the market include:
Hycroft Mining Holding Corporation (NASDAQ: HYMC) has strengthened its balance sheet by raising $235 million in net cash proceeds and eliminating approximately $136 million in total debt, positioning the Company as debt-free entering the fourth quarter 2025. The Company has maintained an exceptional 0.00 Total Recordable Injury Frequency Rate for three consecutive years through over 1.4 million man-hours without a Lost Time Incident at its Hycroft Mine in northern Nevada.
“To our shareholders, both longstanding and new, thank you for your continued support of our Company, the team and our vision for unlocking value at this world class asset,” said Diane R. Garrett, PhD, President and CEO of Hycroft. “We are energized by the progress we’ve made—and are even more excited about the road ahead.”
The Company launched its 2025-2026 Exploration Drill Program targeting high-grade silver-dominant zones in Brimstone and Vortex, initially planning 14,500 meters with two core drill rigs and recently expanding to include two additional rigs following the successful financing. Hycroft is advancing metallurgical and engineering work for a sulfide milling operation while evaluating the potential restart of heap leaching operations to capitalize on current gold and silver market conditions.
Orla Mining Ltd. (NYSE: ORLA) (TSX: OLA) delivered strong results in the third quarter 2025 with record production of 79,645 ounces of gold and record free cash flow of $93 million, generating $275.0 million in revenue at an average realized gold price of $3,417 per ounce. The Company ended the quarter with $326.9 million in cash and reduced net debt to $93.1 million, positioning itself to self-fund growth initiatives including the South Railroad Project in Nevada.
“Orla delivered strong results in the third quarter, achieving a record $93 million in free cash flow and strengthening our balance sheet,” said Jason Simpson, President and CEO of Orla. “This performance positions the Company to self-fund the next stage of growth at South Railroad, consider return of capital initiatives, and underscores the quality of our assets and execution.”
Initial exploration results at Musselwhite confirmed a potential two-kilometer extension of the mine’s main gold trend, with drilling intersecting high-grade mineralization 1.6 kilometers along strike including 4.1 meters grading 15.1 grams per tonne gold with visible gold observed. The Company reaffirmed its revised 2025 production guidance of 265,000 to 285,000 ounces with all-in sustaining costs of $1,350 to $1,550 per ounce following successful navigation of a pit wall event at Camino Rojo and continues advancing the South Railroad Project toward a targeted Record of Decision in the second quarter 2026.
i-80 Gold Corp. (NYSE: IAUX) (TSX: IAU) announced a high-grade mineral resource estimate for its FAD Project in northeastern Nevada totaling approximately 7,360 kilotonnes containing 895,000 ounces of gold, 31 million ounces of silver, 407 million pounds of lead, and 678 million pounds of zinc at spot commodity prices. The high-grade polymetallic asset features attractive net smelter returns of approximately $430 per tonne in the indicated category and $442 per tonne in the inferred category, with critical metals including gallium, indium, antimony, and tin present in zinc concentrates.
“The FAD mineral resource update highlights the high-grade nature of the deposit and supports our geological understanding of the Project,” said Tyler Hill, Vice President of Geology of i-80 Gold. “We believe FAD has significant upside potential and that the Project could benefit considerably from additional drilling, providing substantial exposure to high-grade polymetallic mineralization in a tier-one mining jurisdiction.”
The FAD Project, which also hosts near-surface oxide gold mineralization at the Gold Hill target, is considered a non-core asset and is being contemplated for sale to support the Company’s recapitalization objectives. i-80 Gold remains focused on advancing its portfolio of five core gold projects and refurbishing the Lone Tree central processing facility, which underpin its development plan to create a Nevada-focused mid-tier gold producer.
Equinox Gold Corp. (NYSE-American: EQX) (TSX: EQX) delivered record production of 236,382 ounces of gold in the third quarter 2025 at all-in sustaining costs of $1,833 per ounce, generating $819.0 million in revenue and $420.0 million in adjusted EBITDA. The Company strengthened its balance sheet by retiring $139 million in debt through convertible note conversions and secured an additional $88 million in cash from the sale of Nevada assets in early October 2025, ending the quarter with $348.5 million in cash.
“Equinox Gold delivered another solid quarter with record production of 236,382 ounces and all-in sustaining costs of $1,833 per oz,” said Darren Hall, CEO of Equinox Gold. “With Greenstone continuing to improve, Valentine ramping up well, and Nicaragua and Brazil reliably contributing to production and cash flow, we expect a strong finish to the year.”
Operational performance at Greenstone advanced significantly with mining rates exceeding 185,000 tonnes per day in the third quarter and improving to over 205,000 tonnes per day in October while mill grades increased 13 percent to 1.05 grams per tonne gold, with continued momentum into the fourth quarter supporting the Company’s confidence in delivering strong results into 2026. Valentine achieved first gold ahead of schedule on September 14, 2025, and commissioning continues to exceed expectations with the plant averaging 91 percent of nameplate capacity in October and recoveries above 93 percent, positioning the operation to reach full nameplate capacity by the second quarter 2026.
Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
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SOURCES CITED:
1. https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/highest-price-for-gold/
2. https://sprott.com/insights/gold-miners-shine-in-2025/
3. https://invezz.com/news/2025/10/07/goldman-sachs-boosts-2026-gold-price-forecast-to-4900-amid-strong-demand/
