Lake Victoria Gold Mobilizes Senior Project Manager to Imwelo as Construction Readiness Advances
Lake Victoria advances its Imwelo project by mobilizing a senior project manager and activating the EPCM contractor to accelerate construction readiness.
Lake Victoria Gold Ltd. (LVG) announced the mobilization of Charl Coetzee as Project Manager to its Imwelo Gold Project in Tanzania. The appointment follows the Tanzanian Mining Commission's approval of the Engineering, Procurement and Construction Management (EPCM) framework. City Engineering Company Ltd. (CECL) serves as the primary EPCM contractor, with Sutton Consulting International Limited providing international technical support.
Immediate workstreams include site clearing, access road upgrades, modular camp preparation, and procurement planning to advance construction readiness. The project is fully permitted and located west of AngloGold Ashanti's Geita Mine. A strategic partnership with Taifa Group remains in place for equity stake and contract mining/civil works.
Lake Victoria Gold Ltd. (LVG) issued a routine operational update following the June 29, 2026, EPCM approval and recent financing closures. The announcement confirms the company’s transition from the planning phase to active site readiness, aligning with management’s previously communicated timeline and execution strategy. The development introduces no new financial terms, resource updates, or unexpected catalysts, and represents no material change to the company's valuation, risk profile, or near-term cash requirements.
Lake Victoria Gold Ltd. (LVG) is a pre-revenue junior gold explorer and developer focused on two primary assets in Tanzania: the Imwelo and Tembo projects.
The Imwelo Gold Project is a fully permitted, 3.2 sq km open-pit operation located in the Lake Victoria Goldfield. It holds a JORC-compliant 2021 Preliminary Feasibility Study (PFS), with metallurgical testing confirming approximately 97% gold recovery via conventional gravity-CIL circuits. Projected capital expenditure is approximately $15.03 million USD, with an estimated all-in sustaining cost (AISC) of approximately $1,500 per ounce.
The Tembo Project is a 32 sq km exploration asset adjacent to Barrick’s Bulyanhulu Mine. High-grade artisanal sampling has returned grades up to 35.45 g/t Au. The company is pursuing a capital-light toll-milling pathway via Nyati Resources.