The Gold Mine That Barrick Bought Into, a Billionaire Backed, and the Market Still Hasn't Found
LVG, KGC, FNV, WPM, and EQX as the Gold Supercycle Enters Its Most Profitable Phase
Issued on behalf of Lake Victoria Gold Ltd.
Companies mentioned in this article: Lake Victoria Gold (TSXV:LVG) (OTCQB:LVGLF), Kinross Gold (NYSE:KGC) (TSX:K), Franco-Nevada (TSX:FNV) (NYSE:FNV), Wheaton Precious Metals (NYSE:WPM) (TSX:WPM), Equinox Gold (NYSE:EQX) (TSX:EQX)
Key Takeaways:
- Lake Victoria Gold (TSXV: LVG) (OTCQB:LVGLF) has confirmed 97% gold recovery at its fully permitted Imwelo Gold Project using conventional processing — eliminating one of the biggest risks in mine development and validating a path toward near-term production.
- Barrick Gold owns 5.5 million LVG shares at C$0.27 and Tanzanian billionaire Rostam Aziz has an investment commitment of C$11.52 million he currently owns 16,000,000 shares C$0.22 — and the stock still trades below both entry prices.
- Gold has surpassed $5,400 per ounce in 2026, with industry gross margins approaching 70% and major producers generating record free cash flow.
- Kinross Gold, Franco-Nevada, Wheaton Precious Metals, and Equinox Gold are all benefiting from the supercycle — but the market hasn't yet repriced the junior developers sitting on permitted, production-ready assets.
VANCOUVER, BC, March 20, 2026 /PRNewswire/ -- Equity-Insider.com — Something unusual is happening in the gold market. The metal is above $5,400. The majors are generating 70% gross margins. Free cash flow records are being shattered every quarter. And yet, scattered across the junior gold landscape, there are fully permitted projects with defined resources, proven metallurgy, and strategic backers — that trade as if gold were still at $1,800.
The disconnect isn't rational. It's structural. Retail capital chases the names it already knows. Institutional capital moves slowly into juniors. And the result is a window — one that historically closes fast — where the companies closest to production trade at fractions of what their ounces are worth in the ground.
Lake Victoria Gold (TSXV:LVG) (OTCQB:LVGLF) sits squarely in that window. The company's Imwelo Gold Project in Tanzania is fully permitted, has just confirmed 97% metallurgical recovery using conventional processing, and sits 12 kilometers from AngloGold Ashanti's Geita Mine in one of Africa's most established gold districts. The people who know this ground best — Barrick Gold and Tanzania's wealthiest mining operator — have already put their money in.
The metallurgy is the headline. Testwork confirmed that Imwelo's gold is free-milling: 84% directly cyanide-leachable, 42-47% gravity-recoverable, and approximately 97% total recovery through a conventional gravity and carbon-in-leach flowsheet. That's the kind of metallurgy that de-risks an entire project because it means the gold comes out cleanly, predictably, and cheaply using equipment that every mine builder on earth understands.
"These metallurgical results represent an important milestone in advancing the fully permitted Imwelo Project toward production," said Marc Cernovitch, President and CEO. "Importantly, the results are highly consistent with earlier metallurgical programs completed in 2013 and 2014, which significantly increases our confidence in the deposit's processing characteristics."
The drill program adds depth. Twenty-one holes at Area C confirmed mineralization extending beyond the current pit design, with highlights of 11.88 g/t over 1.33 meters and 9.31 g/t over 2.45 meters. At Tembo, artisanal sampling has returned grades up to 35.45 g/t, and a processing agreement is being finalized for a 500 tonne-per-day plant on LVG's own mining licences adjacent to Barrick's Bulyanhulu.
The sector context makes this even more compelling. Kinross Gold (NYSE:KGC) has rallied over 50% in six months. Franco-Nevada (NYSE:FNV), the largest royalty and streaming company in gold, provides exposure to over 100 producing assets with margins that software companies would envy. Wheaton Precious Metals (NYSE:WPM) continues to expand its streaming portfolio, locking in future production at fixed costs while gold prices soar past $5,400. And Equinox Gold (NYSE:EQX) delivered a transformational 2025 with record production of 922,827 ounces, $2.71 billion in gold revenue, and $1.1 billion in debt reduction. Capital is flowing to gold at every level of the value chain.
But the repricing of juniors always lags. And for Lake Victoria Gold — with permits in hand, metallurgy confirmed, drill results expanding the resource, and two of the most credible backers in the Tanzanian gold sector already on the register — that lag looks like it's running out of time.
For more information on Lake Victoria Gold (TSXV:LVG) (OTCQB:LVGLF), visit lakevictoriagold.com
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
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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. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. ("BAY"). 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/BAY 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, which is disseminated by MIQ on behalf of BAY 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:
- Gold Price Record, March 2026 — https://www.cbsnews.com/news/price-of-gold-today-march-2-2026/
- Equinox Gold 2025 Annual Results — https://www.equinoxgold.com/investors/
- J.P. Morgan Gold Forecast — https://www.jpmorgan.com/insights/global-research/commodities/gold-prices
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