Record Gold, Shrinking Supply: Funded Developers at the Threshold
Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER, British Columbia, April 10, 2026 (GLOBE NEWSWIRE) — USANewsGroup.com News Commentary — Central banks bought gold again in early 2026, and they show no signs of slowing down. The World Gold Council projects sovereign purchases near 850 tonnes for the full year, a pace that continues to drain available supply[1]. Meanwhile, Wall Street’s biggest names have clustered their year end forecasts above $5,000 per ounce, with J.P. Morgan, UBS, and Deutsche Bank all holding or raising targets after a volatile first quarter[2]. That combination of relentless sovereign accumulation and structurally elevated price expectations is creating a pivotal window for companies that have already secured financing and started building: Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF), Soma Gold (TSXV: SOMA) (OTCQB: SMAGF), Thor Exploration (TSXV: THX) (OTCPK: THXPF), Orvana Minerals (TSX: ORV) (OTCQX: ORVMF), and Borealis Mining (TSXV: BOGO) (OTCQB: BORMF).
Record margins across the gold sector are now accelerating capital rotation toward execution stage developers with permitted pathways and secured financing, as management teams across the industry invest more selectively in high quality growth[3]. The timing matters. The World Gold Council also reported that global mine output is approaching a near term plateau, with new discoveries lagging the gold price by at least six years[4]. In a supply constrained cycle, companies that have already crossed the production threshold carry undervalued upside that the broader market has yet to fully price in.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) just secured a binding term sheet for a gold loan facility worth up to US$25 million from Monetary Metals, backed by up to 6,000 ounces of gold. The company also locked in a fully committed $3.0 million convertible debenture financing led by a long-term significant shareholder. The two deals give Lake Victoria Gold both near-term working capital and a funded path toward production at its Imwelo Gold Project in Tanzania.
The gold loan is non-dilutive and production-linked. Repayment is made in gold ounces, not cash, so the facility scales naturally with output. The convertible debenture carries a 5.0% annual interest rate, converts at $0.31 per share, and includes half-warrants exercisable at $0.40. For a company at this stage, the structure is designed to move development forward without flooding the market with new shares.
“This financing allows us to immediately accelerate work programs on the ground at Imwelo and advance key initiatives across both Imwelo and Tembo without delay,” said Marc Cernovitch, CEO of Lake Victoria Gold. “With capital now in place, our focus is on execution, progressing engineering, advancing site activities, and moving Imwelo toward development. At the same time, the Monetary Metals facility provides a clear pathway to larger-scale project financing, supporting our objective of bringing Imwelo into production.”
The financing builds on strong momentum across Lake Victoria Gold’s Tanzanian portfolio. The company also recently announced that Tanzania’s government has formally begun incorporating its statutory 16% free carried interest in the Tembo mining licences, a required regulatory step that signals the project is advancing through the country’s established framework. Lake Victoria Gold is also finalizing a binding agreement with Nyati Resources, a well-established Tanzanian mining operator, to begin toll milling at Tembo. That deal would allow the company to process material through an existing facility, opening a path to early cash flow without heavy upfront capital spending.
At Imwelo, the project confirmed gold recovery rates of up to approximately 97% using conventional methods. A completed drill program at Area C returned grades including 11.88 g/t gold over 1.33 metres, and geotechnical studies supported consolidation into a single open pit design. The Tembo Project separately returned surface grades up to 35.45 g/t gold from artisanal sampling.
Lake Victoria Gold holds a 100% interest in both projects, counts Barrick Gold among its strategic investors, and has a management, director, and strategic partners group that collectively owns more than 60% of outstanding shares.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
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:
Soma Gold (TSXV: SOMA) (OTCQB: SMAGF) has submitted the PTO mining permit application for its Nechí Project in the Department of Bolívar, Colombia, representing a key milestone toward commercial production.
“Submitting the PTO application marks a significant step forward for Soma,” said Geoff Hampson, CEO of Soma Gold. “Once approved, the Nechí Mine is expected to provide an additional 250 tonnes per day of feed to our El Bagre Mill, translating to incremental production of approximately 25,000 gold equivalent ounces per year.”
Nechí is an underground development project located approximately 350 kilometres from Medellín and 65 kilometres north of Soma Gold‘s El Bagre Complex. The project comprises three deposits (El Catorce, Santa Elena, and Santa María), all of which have undergone successful test mining with mineralized material processed at the El Bagre Mill. Existing underground workings are expected to facilitate an accelerated ramp-up, and the company anticipates permit approval before end of 2026.
Thor Exploration (TSXV: THX) (OTCPK: THXPF) has filed an NI 43-101 technical report supporting the Douta Gold Project Pre-Feasibility Study in Senegal, with no material differences from the PFS results previously reported back in January.
The Douta PFS outlines a pre-tax NPV5% of US$908 million and a pre-tax IRR of 73%, based on a gold price of US$3,500 per ounce. The project envisions 1.0 million ounces of gold production over 12.6 years at a life-of-mine AISC of approximately US$1,890 per ounce, with an initial capital requirement of US$254 million.
In the first four years, the oxide ore phase is expected to deliver 411,000 ounces at AISC of US$1,493 per ounce, generating US$814 million in pre-tax cashflow with an 11-month payback period. The Ministry of Environment approved the ESIA in January 2026, and next steps include finalizing the Mining Convention and commencing detailed design. First production from Douta is targeted for early 2028.
Orvana Minerals (TSX: ORV) (OTCQX: ORVMF) has announced the production of its first doré bar from the Don Mario plant restart in southeastern Bolivia, confirming successful restart of the Au-Ag circuit following upgrades.
“Producing the first doré bar marks an important milestone in restarting the Don Mario plant,” said Juan Gavidia, CEO of Orvana Minerals. “This achievement confirms that the Au-Ag circuit is operating as expected following refurbishment and upgrades. Achieving this milestone during a period of strong gold and silver prices further underscores the strategic importance of bringing Don Mario back into operation.”
Legacy sulfide ore was processed through the Au-Ag circuit as part of the phased restart, with commissioning of the comminution, thickening, desorption, and smelting circuits completed. Completion of construction and commissioning of the copper circuits remains the key near-term milestone, after which oxide stockpile processing is expected to begin, with ramp-up through Q3 FY2026 and full operating capacity targeted in Q4 FY2026. The Oxides Stockpile Project is designed to recover copper, gold, and silver from material stockpiled during previous years of mining at Don Mario.
Borealis Mining (TSXV: BOGO) (OTCQB: BORMF) reported Q2 fiscal 2026 financial and operating results showing active open-pit mining underway at its Nevada gold mine, with revenue of US$1.42 million, gross profit of US$0.62 million, and a cash balance of US$21.13 million as of January 31, 2026. The company has moved approximately 602,000 tons of material from the East Ridge and historical Borealis pits, with regular blasting on a weekly to biweekly schedule and a fully staffed on-site team of approximately 30 personnel in place.
“Borealis has transitioned into active mining, with over 602,000 tons moved to date and crushing now underway,” said Kelly Malcolm, President and CEO of Borealis Mining. “The operation is now in a steady rhythm with regular blasting, mineralization movement from multiple pits, and a fully staffed team in place.”
Borealis Mining held working capital of approximately US$26.7 million and total assets of US$31.82 million at quarter-end, providing a strong financial foundation to support throughput growth. The company remains focused on maintaining operational consistency and building processing capacity as the mine ramp-up progresses.
FURTHER READING: 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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DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (MIQ). MIQ has been paid a fee for Lake Victoria Gold Ltd. advertising And digital media. There may also be 3rd parties who may have shares of Lake Victoria Gold Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Lake Victoria Gold Ltd and reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company.
Cautionary Note on Production Decision: Although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, these foreign-code studies are not current under NI 43-101. The Company has not completed a feasibility study on Imwelo that establishes mineral reserves demonstrating economic and technical viability and is not treating the JORC-based estimates or analyses as current under CIM Definition Standards. Any decision to commence production is not based on a feasibility study of mineral reserves and therefore involves increased uncertainty and a higher risk of economic and technical failure. There is no certainty that the planned low-capex open-pit operation will be economically viable or that production will occur as anticipated. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory, or permitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
SOURCES:
- https://www.gold.org/goldhub/gold-focus/2026/04/central-bank-gold-statistics-central-banks-stay-course-gold-february
- https://goldsilver.com/industry-news/article/gold-price-forecasts-for-2026-revisited-after-q1/
- https://goldinvest.de/en/analysts-gold-mining-stocks-could-outperform-gold-in-2026-record-margins-thanks-to-costs-below-2000/
- https://www.gold.org/goldhub/gold-focus/2026/03/you-asked-we-answered-are-we-running-out-gold
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