Stocks in Play: Lake Victoria Gold
Wednesday, April 9, 2025
12:52 PM EST - Lake Victoria Gold : Announced an important milestone in the advancement of its Tembo Project, located in the Lake Victoria Goldfield of northern Tanzania, following the successful conversion of its Prospecting License into four Mining Licenses (MLs). This milestone marks a significant advancement in LVG's strategy to unlock the potential of Tembo, which has already benefited from over USD $28 million in exploration expenditures, including 50,000 meters of diamond and RC drilling. The conversion from a Prospecting License to four Mining Licenses grants LVG the legal right to develop and produce from the Tembo Project. Key provisions include that each Mining License (ML) is valid for 10 years, with the option of a further 10-year renewal. "The approval of our Mining Licenses is a pivotal step forward for the Tembo Project," said Marc Cernovitch, President & CEO. "We have always believed in the district-scale potential of this asset. With tenure now secured for the next 10 years, we can focus on evaluating the most efficient development options to unlock maximum shareholder value. This is a transformational moment for the Company and its stakeholders." Lake Victoria Gold (V.LVG) shares were unchanged at 0.17.Stocks in Play: Lake Victoria Gold, Wed, 09 Apr 2025 12:57:07 EST
