Lake Victoria Gold Secures Financing for Tanzanian Mine

Lake Victoria Gold Ltd (TSE:LVG) has released an update.

Lake Victoria Gold Ltd. has signed a non-binding term sheet with Monetary Metals & Co. for a pre-paid forward purchase of 7,000 ounces of gold to aid the development of the Imwelo Mine in Tanzania. The agreement allows LVG to fund the mine’s construction without diluting shares, offering significant potential for shareholder value. This deal, along with existing financing, positions LVG to start production with substantial projected cash flow.

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