The Next Phase of Gold’s Bull Run May Belong to the Underdogs
Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – Baystreet.ca News Commentary – Gold’s bullish momentum hasn’t let up—despite brief dips, the market remains in what many are calling a “gold fever” cycle fueled by macro uncertainty and long-term inflation hedging. While large-cap miners have drawn headlines with record-setting output and robust balance sheets, a broader wave of gold equities—from juniors to mid-tier producers—is now capturing attention with key milestones and strategic progress. That includes recent updates from Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), B2Gold Corp. (NYSE-American: BTG) (TSX: BTO), New Gold Inc. (NYSE-American: NGD) (TSX: NGD), i-80 Gold Corp. (NYSE-American: IAUX) (TSX: IAU), and Orla Mining Ltd. (NYSE-American: ORLA) (TSX: OLA).
DoubleLine Capital’s Jeff Gundlach, known as the “Bond King,” says the gold rally is far from over—he sees potential for prices to hit $4,000 per ounce. JPMorgan recently echoed that bullish sentiment, projecting gold could reach $6,000 by 2029 if just 0.5% of U.S.-held foreign assets shift into the metal. Meanwhile, Goldman Sachs believes gold could spike to $4,500 as soon as this year, citing strong momentum and investor appetite.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is quietly advancing its gold ambitions in Tanzania with a practical, near-term approach. The company recently brought in Nesch Mintech Tanzania—a respected third-party firm—to help evaluate a local gold processing plant that could play a key role in early production. This comes on the heels of a non-binding Letter of Intent (LOI) with Nyati Resources to explore a small-scale development pathway. Nesch’s review will assess how ready the plant is to run, how much gold it’s likely to recover, and what upgrades might unlock even better results.
"Engaging Nesch Mintech at this stage ensures we bring third-party rigour and transparency to the commissioning process, which is fundamental to assessing the Nyati opportunity," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "We are excited by the potential to leverage existing processing infrastructure and local ore sources to create a scalable gold production platform in Tanzania.”
If the partnership moves forward, LVG would begin sending mineralized material from its fully owned Mining Licences to be processed at Nyati’s 120-ton-per-day plant, alongside a new 500-ton-per-day facility that’s nearly ready. Together, these two plants could form the backbone of a centralized gold processing hub—giving both companies a faster, lower-capex path to first production.
“This audit is an important milestone as we advance this most compelling near-term gold development opportunity,” said Simon Benstead, Executive Director of Lake Victoria Gold. “By combining strategic processing infrastructure with high-potential development targets, the proposed joint venture has the potential to unlock meaningful value for all stakeholders. We look forward to working closely with Nesch Mintech to validate the plant’s performance and move confidently toward execution.”
While still early-stage and not yet backed by a current resource estimate or Feasibility Study, the proposed initiative gives LVG a chance to test its geology in a real-world setting. As with any small-scale venture, key risks remain—especially around grade consistency, metallurgy, permitting, and funding.If successful, this low-cost strategy could unlock near-term cash flow and help fund further exploration. The agreement with Nyati builds on LVG’s earlier announcement that it was exploring small-scale development options at its flagship Tembo Project, located right next to Barrick’s high-grade Bulyanhulu mine.
Tembo is no stranger to serious exploration, with over US$28 million already invested and more than 50,000 metres of drilling completed. Several key zones—including Ngula 1, Nyakagwe Village, and Nyakagwe East—remain open along strike and at depth, underscoring the project’s long-term growth potential.
“Tembo has always stood out as a project with the potential to deliver both near-term value and long-term discovery upside,” said Benstead. “Evaluating this small-scale development opportunity allows us to test the system, generate operational insights, and potentially self-fund ongoing exploration.”
LVG continues to build momentum by aligning capital, partnerships, and near-term development opportunities. While Tembo remains the company’s long-term discovery engine, its newly acquired Imwelo Project is the most advanced asset in the pipeline. Fully permitted and supported by a 2021 pre-feasibility study, Imwelo is located near AngloGold Ashanti’s Geita Mine and appears well suited for streamlined development and construction..
To help advance development, Lake Victoria Gold signed a non-binding gold prepay term sheet with Monetary Metals in late 2024. The agreement provides upfront, non-dilutive capital in exchange for a portion of future gold production at a discount, aligning repayment with the project's output. The structure allows LVG to access value equivalent to up to 7,000 ounces of gold, with proceeds earmarked for construction and early development work.
In early 2025, the company also closed a C$3.52 million investment tranche from Taifa Group at C$0.22 per share, part of a broader C$11.52 million three-stage financing. As part of that partnership, former Taifa CEO Richard Reynolds joined LVG’s board, bringing additional regional experience and leadership.
Looking ahead, LVG also holds a milestone-based earn-in agreement with Barrick worth up to US$45 million, tied to future exploration success at Tembo. With plant audits in progress, a joint venture under review, and a growing financial toolkit, Lake Victoria Gold is positioning itself as one of the more compelling junior developers in East Africa.
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:
B2Gold Corp. (NYSE-American: BTG) (TSX: BTO) kicked off the year with stronger-than-expected gold production of 192,752 ounces in Q1 2025, and beating expectations on both output and costs. First-quarter all-in sustaining costs came in at $1,533 per ounce, while adjusted net income hit $122 million, or $0.09 per share.
Construction at the Goose Project remains on track, with first gold expected by the end of Q2 and a ramp-up to commercial production planned for Q3. Backed by $330 million in cash and a clean credit facility, B2Gold says it's on pace to meet full-year guidance of up to 1.075 million ounces.
New Gold Inc. (NYSE-American: NGD) (TSX: NGD) booked $108 million in operating cash flow and $25 million in free cash flow in Q1 2025, supported by standout performance at its New Afton Mine. New Afton alone generated $52 million in free cash flow as copper prices and cost efficiency boosted margins.
“During the quarter, we also delivered two new Technical Reports outlining strong production profiles with lower costs,” said Patrick Godin, President and CEO of New Gold. “Additionally, underground development continues to advance, and I'm pleased to report the successful pit portal breakthrough occurred in early April, an important catalyst that enables the underground ramp-up to advance throughout the year.”
At Rainy River, the company advanced tailings and underground work as it positions for longer-term mill optimization. A $400 million debt refinancing, extended credit facility, and a deal to consolidate 100% of New Afton’s free cash flow all reflect a company leaning into its growth transformation.
i-80 Gold Corp. (NYSE-American: IAUX) (TSX: IAU) reported $14 million in Q1 revenue, with gold sales up year-over-year as the company continued ramping up operations at Granite Creek Underground. Although the quarter closed with a net loss of $0.10 per share, management highlighted major milestones in permitting, dewatering, and drilling across its Nevada portfolio. Now backed by preliminary economic assessments across all five gold projects—totaling $1.6 billion in combined after-tax NPV—the company is advancing a staged development plan while actively pursuing fresh capital to unlock its next phase of growth.
“These are largely low-risk, brownfield projects with infrastructure in place, and we are increasing technical experience to execute on the development plan,” said Richard Young, President and CEO of i-80 Gold. “These improvements should allow us to ramp-up to steady state of gold output in the second half of 2025.”
Orla Mining Ltd. (NYSE-American: ORLA) (TSX: OLA) delivered a record quarter, producing 47,759 ounces of gold, driven by solid results from Camino Rojo and its newly acquired Musselwhite mine. Camino Rojo alone contributed 29,973 ounces with operations maintaining strong stacking and grade performance, keeping the project on track to meet its full-year guidance of 110,000 to 120,000 ounces.
Musselwhite, which was acquired at the end of February, added 17,786 ounces of gold in March alone, with ore grades averaging 5.55 g/t and recoveries near 96%. Orla ended the quarter with $184 million in cash and a net debt position of $266 million. Updated 2025 guidance reflecting both operations will be released in Q2, alongside financial results. Management reaffirmed its staged growth strategy across its three core assets in Mexico, Canada, and the U.S.
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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