Lake Victoria Gold Announces $7.5 Million Private Placement for Exploration

An announcement from Lake Victoria Gold Ltd ( (TSE:LVG) ) is now available.

Lake Victoria Gold Ltd. announced plans for a non-brokered private placement to raise up to $6 million through the issuance of units, each consisting of a common share and a half warrant, to fund exploration and general working capital. Additionally, a concurrent private placement aims to raise $1.5 million, with proceeds supporting the Tembo and Imwelo Gold Projects, subject to TSXV approval and participation from company insiders.

The most recent analyst rating on (TSE:LVG) stock is a Buy with a C$0.45 price target. To see the full list of analyst forecasts on Lake Victoria Gold Ltd stock, see the TSE:LVG Stock Forecast page.

Spark’s Take on TSE:LVG Stock

According to Spark, TipRanks’ AI Analyst, TSE:LVG is a Neutral.

Lake Victoria Gold Ltd’s overall stock score is primarily impacted by its weak financial performance, marked by zero revenue and consistent losses. Although there is some technical strength indicating short-term market interest, the negative valuation metrics such as the P/E ratio highlight significant risks. The absence of earnings call data and notable corporate events means these factors do not influence the score.

To see Spark’s full report on TSE:LVG stock, click here.

More about Lake Victoria Gold Ltd

Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol ‘LVG’. The company is focused on growth and consolidation in the Lake Victoria Goldfield in Tanzania, with a 100% interest in the Tembo project, which is located near Barrick’s Bulyanhulu Mine.

Average Trading Volume: 86,539

Technical Sentiment Signal: Sell

Current Market Cap: C$27.63M

Learn more about LVG stock on TipRanks’ Stock Analysis page.