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Gold Hits Record High Reaching USD 3,010/oz and Rising; Lake Victoria Gold Captures Investor Attention

April 11, 2025

Lake Victoria Gold stands out as a key beneficiary. Operating in Tanzania’s Lake Victoria Goldfields, the company has transitioned from exploration to mining, securing four 10-year Mining Licences for its Tembo Project.

(3 Minutes Read)

Gold prices have surpassed USD 3,010/oz, reaffirming the metal’s role as a safe haven amid global economic and geopolitical uncertainty. Concerns over stagflation, recession risks, and ongoing U.S. tariff negotiations have driven bullish investor sentiment, with major banks like HSBC and Citi backing gold’s upward trend. This rally has sparked renewed investment in gold ETFs and mining equities.

Lake Victoria Gold stands out as a key beneficiary. Operating in Tanzania’s Lake Victoria Goldfields, the company has transitioned from exploration to mining, securing four 10-year Mining Licences for its Tembo Project. The site has seen over USD 28 million in exploration, with standout intercepts at Ngula 1 (22.18 g/t over 15m) and Nyakagwe Village (78.1 g/t over 1m), indicating strong high-grade potential. The project lies near Barrick Gold’s Bulyanhulu Mine, with which Lake Victoria has a prior USD 6M licence sale deal—plus up to USD 45M in contingent payments.

The company is now exploring development options including toll milling, partnerships, and building its own plant, while drilling continues across 38 new target zones.

Other gold sector highlights:

New Gold Inc. (NYSE: NGD) is acquiring full cash flow interest in its New Afton Mine for USD 300M, enhancing cash flow potential.
Thor Explorations (TSXV: THX) poured 85,000 oz at its Nigerian mine and launched its first dividend; it’s investing USD 17.5M in West African exploration in 2025.
Westgold Resources (TSX: WGX) signed an ore supply deal in Western Australia to scale up Bluebird plant operations.
Dakota Gold (NYSE: DC) raised USD 35M to fund its South Dakota project through feasibility and toward production.

The resurgence in gold prices, combined with strategic progress among developers and mid-tier producers, suggests a compelling year ahead for the global gold sector. As macroeconomic headwinds continue to shape investor behaviour, companies with high-grade assets, clear permitting pathways, and well-capitalised balance sheets are emerging as beneficiaries of the renewed interest in gold equities.