VANCOUVER, British Columbia, Dec. 22, 2025 (GLOBE NEWSWIRE) -- USA News Group News Commentary – Gold has maintained strength above $4,300 through mid-December, with producers now generating record free cash flow margins exceeding 30% as all-in costs remain stable[1]. While metal prices capture headlines, the real transformation is happening on the ground as miners transition from builders to operators, with processing facilities coming online, permits secured for construction starts, and high-grade discoveries validating production pathways[2]. Companies positioned to capitalize on this execution phase include Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF), Orvana Minerals Corp. (TSX: ORV) (OTCPK: ORVMF), McEwen Inc. (NYSE: MUX) (TSX: MUX), and Eldorado Gold Corporation (NYSE: EGO) (TSX: ELD).
Institutional forecasters now project gold averaging above $5,000 per ounce by Q4 2026, driven by sustained central bank demand and strategic diversification away from dollar reserves[3]. The timing favors producers bringing new capacity online, as operational leverage at current price levels translates every incremental ounce into disproportionate free cash flow gains before the next wave of supply constraints tightens[4].
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has confirmed high-grade gold mineralization up to 35.45 g/t at its Tembo Project in northwestern Tanzania, with artisanal sampling validating priority drill targets ahead of a planned Q1 2026 program. The results come from eight active artisanal mining locations across the project, with the highest grades at Ngula 1 reinforcing its status as the company's primary near-term target.
"With an LOI in place with Nyati, our focus has shifted decisively toward execution," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "We are moving from exploration to execution. The high-grade samples at surface confirm the system's potential, while our engagement with Nyati Resources offers a tangible path to process that material. Our focus is squarely on defining the resource at Ngula 1 and finalizing a processing agreement that leverages existing infrastructure to minimize capital output."
Additional notable results include 35.21 g/t and 12.94 g/t from Ngula 2, plus 22.68 g/t and 5.90 g/t from the previously under-drilled Mgusu Target. Mineralization is consistently associated with smokey-grey quartz veins hosted in sheared basalts, with visible pyrrhotite and pyrite sulphides aligned along multiple structural trends matching the company's established geological model for the area.
Lake Victoria Gold is now advancing discussions with Nyati Resources regarding potential use of a 500 tonne-per-day carbon-in-pulp processing plant located on one of LVG's Tembo mining licences, directly adjacent to Barrick's Bulyanhulu Mine. The company is targeting the conclusion of a binding agreement by early 2026, which would establish a near-term production pathway from Tembo ahead of full-scale development at its flagship Imwelo Gold Project.
Tembo's close-spaced drilling program at Ngula 1 is expected to commence in Q1 2026, targeting a 300 to 400 meter strike length that has returned consistently high-grade results in both historical drilling and recent artisanal sampling.
In parallel, the company continues advancing its fully permitted Imwelo Gold Project, located just 12 kilometers from AngloGold Ashanti's Geita Mine. Recent drill results from Area C have extended mineralization beyond current pit designs, with down-dip continuity now demonstrated to over 250 meters vertical depth.
Backing this dual-track strategy is exposure to potential US$45 million in milestone payments from the company's 2021 asset sale to Barrick's Bulyanhulu operation. Financial runway is supported by a gold prepay facility with Monetary Metals and a C$11.52 million strategic investment from Taifa Group.
With drilling, processing agreements, and funding advancing in parallel, Lake Victoria Gold is building the operational platform to transition from explorer to producer.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
In other industry developments and happenings in the market include:
Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) has provided a Q4 production update for its Boroo Gold mine in Mongolia, expecting overall fourth quarter production to exceed 23,000 oz following major fleet upgrades and accelerated processing of high-grade stockpiles. With processing of finished goods from September 30, 2025 completed in early Q4, total production for the quarter is expected to exceed 30,000 oz.
As a result, full year production for the Group is expected to reach 70,000 oz for 2025. The company also announced that effective December 8, 2025, Kingston Ross Pasnak LLP has resigned as auditor and Emmerich, Córdova & Asociados, a member firm of KPMG International, has been appointed as successor auditor to align with current audit relationships across the Group's entities.
Orvana Minerals Corp. (TSX: ORV) (OTCPK: ORVMF) has announced the phased restart of its Don Mario processing plant in Bolivia, with its subsidiary Empresa Minera Paitití S.A. bringing the comminution and thickening circuits online to supply feed to the gold-silver circuit. The copper circuit, part of the Don Mario plant expansion, is scheduled to come online in the second half of January 2026, followed by a controlled ramp-up of all circuits from February through April 2026.
"The restart of the Don Mario plant represents an important milestone for Orvana as we advance the commissioning of our expanded processing facilities," said Juan Gavidia, CEO of Orvana. "Our focus remains on executing a disciplined and phased start-up designed to manage commissioning risk, validate plant performance and position the operation for a controlled ramp-up in 2026."
The expansion includes new circuits for copper oxide processing with acid leaching, filtration, solvent extraction and electrowinning to produce copper cathodes, along with enhancements to the gold-silver circuit and comprehensive overhauls of pre-existing processing systems. Concurrent with commissioning activities, EMIPA is conducting final on-site pilot testing to update metal production estimates from the oxide stockpiles.
McEwen Inc. (NYSE/TSX: MUX) has secured a critical environmental permit for its El Gallo Mine in Mexico, with the extension of its Environmental Impact Assessment approval clearing the path for Phase 1 mill construction to begin mid-2026 and first gold production targeted for mid-2027. The reactivated operation is expected to produce approximately 20,000 gold equivalent ounces annually from reprocessing material from the historical leach pad, requiring just $25 million in remaining capital with the ball mill already purchased and onsite.
Beyond the initial 10-year Phase 1 timeline, McEwen is advancing Phase 2 development targeting the project's in-situ silver deposits, which hold historical resources totaling 53.1 million ounces in Measured and Indicated categories and 31 million ounces Inferred. The company plans to update resource estimates in 2026, positioning El Gallo as a near-term cash flow generator with significant expansion potential in one of Mexico's established mining districts.
Eldorado Gold Corporation (NYSE: EGO) (TSX: ELD) released updated reserves showing Proven and Probable gold Mineral Reserves increased approximately 5% to 12.5 million ounces as of September 30, 2025, primarily driven by a 25% increase at the Lamaque Complex. The company successfully offset depletion at key operations including Lamaque Complex, Kisladag and Olympias, while utilizing a higher but conservative gold price assumption of $1,700 per ounce compared to last year's $1,450 per ounce.
"Our commitment to exploration continues to unlock long-term value, driving another increase in Mineral Reserves," said George Burns, CEO of Eldorado Gold Corporation. "This strengthens our foundation and supports a robust production outlook for the next decade, underpinned by an average mine life of 13 years."
Exploration success also increased Inferred Mineral Resources by nearly 21%, primarily from additions at Perama Hill in Greece and at Bonnefond near the Lamaque Complex. The company's average mine life of 13 years across its portfolio, including the 20-year Skouries Project, positions Eldorado for sustained production through organic growth and mine life extension at existing operations.
Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
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SOURCES CITED:
- https://tradingeconomics.com/commodity/gold
- https://www.mining-technology.com/news/orvana-commences-phased-restart-don-mario/
- https://www.jpmorgan.com/insights/global-research/commodities/gold-prices
- https://markets.financialcontent.com/stocks/article/marketminute-2025-12-17-golds-unprecedented-surge-a-golden-era-continues-into-2026
