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Lake Victoria Gold Announces 10-Year Renewal of Imwelo Mining License
Vancouver, British Columbia--(Newsfile Corp. - August 7, 2024) - Lake Victoria Gold Ltd. (TSXV: ...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Lake Victoria Gold Announces 10-Year Renewal of Imwelo Mining LicenseVancouver, British Columbia--(Newsfile Corp. - August 7, 2024) - Lake Victoria Gold Ltd. (TSXV: LVG) (\"LVG\", or the \"Company\") - is pleased to announce that Tanzoz Minerals Ltd.'s (\"TML\") application to the Tanzanian Mining Commission for a 10-year renewal of the Imwelo Mining License (\"ML\") has been accepted subject to certain conditions. TML is required to submit updated Mining, Environmental, and Closure Plans, commit to commence development within 90 days, as well as pay the license renewal fee within 30 days for the renewal to become effective. These documents are being finalized, as well as the documentation required for transfer of the ML from TML to LVG, and are expected to be submitted and the fee paid in the coming days. This renewal secures the Company's rights to continue developing and operating the Imwelo Project, reinforcing LVG's commitment to advancing its strategic initiatives within the Lake Victoria Goldfield region.Securing Long-term Growth and DevelopmentMarc Cernovitch, CEO & Director, commented: \"We are thrilled to have received the 10-year renewal for the Imwelo Mining License, a testament to our strong relationship with Tanzanian authorities and our dedication to sustainable mining practices. This renewal allows us to execute our long-term vision for the Imwelo Project, ensuring continued growth and development in the Lake Victoria Goldfield. We are eager to advance our mining operations and realize the full potential of this promising project.\"Operational Advancements and Future PlansSimon Benstead, Executive Chairman & CFO of the Company, stated: \"The 10-year renewal of the Imwelo Mining License is a pivotal achievement for LVG, providing the stability and certainty needed to push forward with our ambitious plans. We are grateful for the continued support from our shareholders, partners, and stakeholders, as we work towards maximizing the value of our assets in Tanzania. This renewal not only strengthens our position in the region but also enhances our ability to deliver sustained value to our shareholders.\"About Lake Victoria Gold (LVG):Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position and experi...