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    Lake Victoria Gold: Forward sale of 7,000 oz of gold to fully fund Imwelo mine!

    Für Sie zusammengefasst
    • Lake Victoria Gold sells 7,000 oz gold for funding.
    • $12 million needed to develop Imwelo mine in Tanzania.
    • Non-dilutive financing aligns with production cash flow.

    Issuer: Goldinvest Consulting GmbH / Key word(s): Financing/Contract
    Lake Victoria Gold: Forward sale of 7,000 oz of gold to fully fund Imwelo mine!

    03.12.2024 / 15:16 CET/CEST
    The issuer is solely responsible for the content of this announcement.


    Lake Victoria Gold Ltd. (TSX-V: LVG; FRA: E1K) intends to fully fund the approximately US$12 million of capital expenditures required to bring the Imwelo mine in Tanzania into production by delivering 7,000 ounces of physical gold from future gold production. As the company announced today, a non-binding term sheet for a prepaid forward agreement (the “PPF”) was signed with Monetary Metals & Co. on November 30, 2024. The non-dilutive financing is structured to secure the essential resources for the commissioning and development of the mine and to align repayment with cash flow and gold production plans.

    Lake Victoria Gold is certainly hitting a nerve with gold investors with the idea of gold-based financing for its Imwelo project. One wonders why many more prospective gold producers do not take advantage of this option. This may well be because the capital requirements for a new gold project are usually much higher. This is precisely where the advantage of the Imwelo project lies. The expected capital cost of around $12 million is comparatively manageable and production is expected to be only about a year away. These are precisely the reasons why the project is suitable for the proposed gold forward loan. The decisive milestone that probably made the agreement with Monetary Metals possible at all was certainly the recent transfer of the Imwelo mining license by the Tanzanian government.

    Learn more now:

    Lake Victoria Gold: Forward sale of 7,000 oz of gold to fully secure financing of Imwelo mine


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    Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to publish comments, analyses and news on http://www.goldinvest.de. This content is intended solely for the information of readers and does not represent any kind of call to action; neither explicitly nor implicitly are they to be understood as a guarantee of any price developments. Furthermore, it is in no way a substitute for individual expert investment advice and does not constitute an offer to sell the share(s) in question or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising/journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information relates only to the company and not to the reader’s investment decision.

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    EQS-News Lake Victoria Gold: Forward sale of 7,000 oz of gold to fully fund Imwelo mine! Issuer: Goldinvest Consulting GmbH / Key word(s): Financing/Contract Lake Victoria Gold: Forward sale of 7,000 oz of gold to fully fund Imwelo mine! 03.12.2024 / 15:16 CET/CEST The issuer is solely responsible for the content of this announcement. …