bullish

LVG: Imwelo Project Receives Forward Purchase Agreement

218 Views03 Dec 2024 23:00
Issuer-paid
SUMMARY
  • LVG announced a term sheet including a forward purchase agreement of 7,000oz of gold plus an offtake agreement.
  • With permits secured last month, today’s announcement derisks the project development from a financing perspective.
  • The second tranche of the financing involving Taifa Group is expected to close within the next few weeks and will provide additional funding (~$3.8M) to LVG, further derisking it from a capital standpoint.
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