Lake Victoria Gold Secures up to a ~US$25 Million Gold Loan from Monetary Metals plus Fully Committed $3.0 Million Convertible Debenture Financing
Lake Victoria Gold secures $28M in non-dilutive and low-dilution funding to fast-track the Imwelo Gold Project toward production in Tanzania.
The most recent news (April 1, 2026) announces a dual-tranche financing package totaling approximately US$28 million. This includes a gold loan facility from Monetary Metals for up to 6,000 oz of gold (~US$25M) and a $3.0M non-brokered convertible debenture. The gold loan is repayable in physical ounces with a 15% interest rate, while the debentures carry a 5% interest rate and a conversion price of $0.31 per share. These funds are specifically earmarked to accelerate development at the flagship Imwelo Gold Project and advance initiatives at the Tembo Project.
This news is Material - Positive for several reasons: - Funding Certainty: It provides the bulk of the capital required to transition Imwelo from a "resource" stage to a "production" stage. - Non-Dilutive Structure: By utilizing a gold loan repayable in ounces, the company avoids massive equity dilution at current price levels, preserving upside for existing shareholders. - Validation: A US$25M commitment from a specialized lender like Monetary Metals suggests rigorous due diligence has been passed regarding the project's technical viability. - Strategic Alignment: The $3.0M debenture was led by a "long-term shareholder," indicating strong internal support for the current $0.31 valuation, which is a significant premium over the $0.175 levels seen in late 2025.
Lake Victoria Gold is focused on gold assets in Tanzania’s Lake Victoria Goldfield. - Flagship Project: Imwelo Gold Project. - Status: Fully permitted (10-year mining license). - Key Metrics: 97% recovery (CIL), free-milling ore, 42-47% gravity recoverable gold. - Location: 12km from AngloGold Ashanti’s massive Geita Mine, providing excellent infrastructure proximity.