LVG delivered a maiden resource at its 100%-owned Tembo Project, adjacent to Barrick’s Bulyanhulu Mine, consisting of 480.1Koz Inferred and 99.7Koz Indicated for ~580Koz in total.
Ngula 1 hosts a higher-grade core (331.7Koz Inferred at 2.15 g/t Au and 68.6Koz Indicated at 2.00 g/t Au, at a 1.0 g/t cut-off) and is the likely feed source for near-term toll-milling via the Nyati plant.
We are raising our target price to $0.65/share (prev.
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LVG: Reports Maiden Resource at Tembo Gold Project