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Permitted, Funded, and Drilling: A Tanzanian Gold Developer Crosses the Pre-Construction Threshold
Permitted, Funded, and Drilling: A Tanzanian Gold Developer Crosses the Pre-Construction Threshol...
About this update from Allied Gold Corporation
[{"type":"text","content":"\n\n\nPermitted, Funded, and Drilling: A Tanzanian Gold Developer Crosses the Pre-Construction Threshold\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nIssued on behalf of Lake Victoria Gold Ltd.Sterilization drilling underway at fully-permitted Imwelo Gold Project as construction-stage juniors capture spotlight in a $4,700 gold tapeEquity Insider News Commentary VANCOUVER, BC, May 13, 2026 /CNW/ -- The narrowing cohort of development-stage gold companies with permits in hand, funding committed, and drill rigs already turning is one of the most-watched segments of the precious metals complex right now. With gold trading near multi-year highs and forecasters projecting further appreciation through 2026, the operating leverage of a near-term producer with construction visibility has rarely looked more compelling.\nLake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) has just confirmed mobilization of reverse circulation (\"RC\") drill rigs to its Imwelo Gold Project in Tanzania, with a ~21-day sterilization drilling program scheduled to commence mid-May.[1] The program represents a defined pre-construction workstream rather than a discovery-oriented campaign — sized to support final infrastructure placement across planned plant and site facilities — and tightens an already concentrated catalyst calendar through Q3 2026.A Construction Pathway Anchored by Permits and CapitalImwelo is fully permitted for mine construction and production, placing LVG in a small cohort of development-stage gold names that have cleared the principal regulatory variable.[2] On the funding side, the Company in April 2026 secured a binding term sheet for a gold loan facility of up to US$25 million from Monetary Metals — backed by up to 6,000 ounces of gold and repayable in gold rather than cash — alongside a fully committed C$3.8 million convertible debenture financing that closed its first tranche of $3,534,200 on May 11, 2026.[3] The convertible carries a 5.0% annual coupon and converts at $0.30 per share.[3]The current ~1,050 m...