Lake Victoria Gold (TSX-V: LVG; US-OTC: LVGLF) expects to release an updated capital expenditure forecast for its $15 million Imwelo project in Tanzania early in 2026 as the company moves closer to production, CEO Marc Cernovitch said.
Vancouver-based Lake Victoria acquired Imwelo in February. The project, which is fully permitted and shovel-ready, holds a resource of about 300,000 oz. gold that should yield average grades of 3.7 grams gold per tonne during the first two years of mining, Cernovitch said.
“The average drill depth of Imwelo from historical operators was only 50 metres, so there’s very good exploration potential at depth,” Cernovitch told The Northern Miner’s Editor-in-Chief, Colin McClelland, during the International Metals Symposium in London earlier this month.
At current gold prices, with Imwelo potentially starting production by early 2027, “we’re looking at cash flows on an annual basis that exceed our market capitalization today,” Cernovitch said. As of Tuesday afternoon, Lake Victoria had a market value of about C$50 million ($36 million).
The preceding Joint Venture Article is PROMOTED CONTENT sponsored by Lake Victoria Gold and produced in cooperation with The Northern Miner.
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