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Gold Is Near Record Highs, The Slow Part Is Buying the Surface

TRXIAGCGAUSSRM
  • Lake Victoria Gold Limited initiated its first statutory land compensation programme at the Tembo Gold Project in Tanzania, covering 111.32 acres over the Ngula 1 deposit.
  • The land access process involves a valuation by a District Valuer & an Authorised Land Officer appointed by the Geita District Council, a public procedure that cannot be expedited by payment.
  • The programme covers 88.51 acres within Lake Victoria Gold's mining licence area & 22.81 acres associated with Nyati Resources' primary mining licences to support a potential toll-milling arrangement.
  • Completion of the Phase 1 compensation exercise is targeted for early October 2026, contingent on the Council appointing officers & finishing the exercise.
  • Ngula 1 hosts the majority of the Tembo project's mineral resources, estimated at 267,900 ounces of Inferred resources & 62,700 ounces of Indicated resources.
  • TRX Gold Corporation reported record fiscal 2026 gold production of 29,650 ounces & an average realized price of $4,386 per ounce, operating in the same Tanzanian greenstone belt.
  • IAMGOLD Corporation reported Q2 2026 production of 188,100 ounces but faces rising security & logistics costs at its Essakane mine in Burkina Faso due to country-specific risks.
  • Centerra Gold Inc. raised its full-year gold guidance to 260,000-290,000 ounces & approved up to $200 million in share buybacks, citing strong operational execution.
  • SSR Mining Inc. reported Q2 2026 net income of $137.0 million & declared a quarterly dividend of $0.03 per share, with first-half production of 211,873 gold equivalent ounces.
  • The article emphasizes that early initiation of land access processes is critical to avoid project delays, contrasting proactive sequencing with reactive measures taken under schedule pressure.
  • Lake Victoria Gold remains a pre-revenue exploration & development company with no Mineral Reserves estimated & no definitive toll-milling agreement executed with Nyati Resources.
  • The publication discloses a conflict of interest, noting that Equity Insider is paid by Lake Victoria Gold Limited & its parent company Market Equities Limited holds shares in the firm.