Lake Victoria Gold Finalizes Land Acquisition for Imwelo Project

The latest phase focuses on land necessary for support infrastructure, including accommodation camps, workshops, and ancillary site services. By integrating these 73 acres, the company finalizes a seven-year land assembly process that has involved close coordination with the Chato District Council and local community leadership. Approximately 60 individuals identified as Project Affected Persons will undergo a transparent compensation process overseen by government-certified valuers, exceeding baseline regulatory requirements.

This land acquisition aligns with the company's broader development timeline. With Phase 1 earthworks already active and the construction camp nearing commissioning, the project is moving toward production on multiple fronts. President and CEO Marc Cernovitch noted that this methodical approach to community engagement serves as a risk-reduction mechanism, ensuring that site development remains synchronized with engineering schedules. As the firm advances its $25 million gold loan facility with Monetary Metals, the completion of this land-use footprint serves as a critical milestone in transitioning Imwelo from a permitted site into an operational mine.