Lake Victoria Gold Confirms High-Grade Gold at Tembo, Plans Q1 2026 Drilling
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Globenewswire
- High-Grade Gold Confirmation: Lake Victoria Gold has confirmed high-grade gold mineralization up to 35.45 g/t at its Tembo Project in Tanzania, validating priority drill targets ahead of a planned Q1 2026 drilling program, which will facilitate the company's transition from exploration to production and enhance its market competitiveness.
- Processing Agreement Progress: The company is in discussions with Nyati Resources to finalize a processing agreement for a 500-tonne-per-day plant located adjacent to the Tembo licenses, expected to be completed by early 2026, creating a near-term production pathway while minimizing capital output.
- Funding Support: Lake Victoria Gold is backed by potential milestone payments of $45 million from Barrick, along with a gold prepay facility from Monetary Metals and a C$11.52 million strategic investment from Taifa Group, providing financial security for project advancement.
- Resource Expansion Potential: Recent drilling results from the Imwelo project indicate mineralization extending beyond 250 meters depth, combined with high-grade mineralization at the Tembo project, which is expected to further enhance the resource base and strengthen the company's long-term growth prospects.
Analyst Views on MUX
Wall Street analysts forecast MUX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MUX is 23.67 USD with a low forecast of 21.00 USD and a high forecast of 28.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 18.880
Low
21.00
Averages
23.67
High
28.50
Current: 18.880
Low
21.00
Averages
23.67
High
28.50
About MUX
McEwen Inc, formerly, McEwen Mining Inc., is a gold and silver mining production and exploration company. The Company's operating segments include Canada, the United States, Mexico, Minera Santa Cruz S.A. (MSC) and McEwen Copper Inc. (McEwen Copper). The Canada segment consists of the Fox Complex property, which includes the Froome and Black Fox underground mines; the Grey Fox and Stock advanced-stage projects; the Stock mill; and exploration properties located near the city of Timmins, Ontario, Canada. The United States segment comprises the Gold Bar mine and exploration properties in the State of Nevada. The Mexico segment includes the El Gallo mine and the related advanced-stage Fenix Project, both located in Sinaloa state. The MSC segment comprises a 49% interest in the San Jose mine in Santa Cruz, Argentina. The McEwen Copper segment includes the Los Azules copper project in the province of San Juan, Argentina, as well as the Elder Creek exploration property in the United States.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
