Gold Forecast to Reach $4,900 an Ounce as Central Bank Buying Holds
VANCOUVER, BC, Sept. 3, 2026 /CNW/ -- American News Group News Commentary - Gold has spent 2026 doing things it has never done before. It crossed US$5,000 an ounce for the first time in January and touched an intraday record above US$5,500 before retreating below US$4,000 by late June, and it has since rallied again. Goldman Sachs Research now forecasts the metal will reach US$4,900 per troy ounce by the end of 2026, against roughly US$4,600 on August 25, after a 15% climb from its mid-July low. The driver its analysts point to is not speculative positioning but central banks steadily diversifying reserves away from foreign currencies, which they describe as a multi-year trend rather than a trade.
Active Companies from around the markets with current developments this week include: Lake Victoria Gold Ltd. (OTCQB: LVGLF) (TSXV: LVG) (FSE: E1K), IAMGOLD Corporation (NYSE: IAG), B2Gold Corp. (NYSE American: BTG), Alamos Gold Inc. (NYSE: AGI).
A high gold price is only useful to a developer that can actually build. The World Gold Council noted at mid-year that the first half of 2026 showed how sensitive the metal remains to geopolitical shifts and abrupt swings in sentiment, and that gold was down roughly 7% year to date even after its record January. For producers, that volatility is absorbed by existing cash flow. For development-stage companies, it lands squarely on financing and construction timelines.
Morgan Stanley Research has made a related point about supply: a capital-investment super-cycle among gold producers is unlikely, because permitting and regulatory hurdles constrain how quickly new capacity can be brought forward. That is the quiet structural story underneath the price. The bottleneck in gold is not demand and it is not, at these prices, economics. It is the years between a discovery and a permit, and the years between a permit and a plant.
Which is why fully permitted projects have become disproportionately interesting. A permit that already exists cannot be delayed. A project that has cleared its environmental approvals, secured its mining licence and lined up a contractor is not exposed to the same regulatory queue that Morgan Stanley identifies as the industry's supply constraint. What it is exposed to instead is execution, and execution is visible. Roads either get graded or they do not. Camps either get built or they do not.
Tanzania is where several of those questions are being answered at once. The country's gold sector is in one of its strongest phases in a decade, anchored by large-scale operations in the Lake Victoria Goldfield in the northwest, and its gold exports have risen sharply on the back of both higher output and extraordinary bullion prices. The region has drawn international mining capital for decades, and it is now drawing construction capital again.
Lake Victoria Gold Ltd. (OTCQB: LVGLF) (TSXV: LVG) (FSE: E1K) Completes Initial Access Road Repairs and Advances Site Earthworks at Imwelo Gold Project
- Initial spot repairs completed along the 14 km access road from Katoro to Imwelo village, ahead of the wet season.
- Construction camp substantially complete, with core utilities installed and the water system pressure-tested.
- Clearing and bulk earthworks advancing across the pit, tailings storage facility, waste rock dump and dam sites.
- Stripping and levelling of the run of mine pad has commenced, with excavated material building the western berm.
- Works delivered by a local Tanzanian contractor, with the road programme coordinated with the Tanzania Rural and Urban Roads Agency.
Lake Victoria Gold Ltd. (OTCQB: LVGLF) (TSXV: LVG) (FSE: E1K) announced on September 3, 2026 an update on early works at its wholly owned Imwelo Gold Project in the Chato District of Tanzania's Geita Region. Initial spot repairs on the Katoro-to-Imwelo access road have been completed, clearing, stripping and levelling are advancing across key process and infrastructure areas, and the construction camp is substantially complete.
The road matters more than it sounds. Following a survey of the full route, the worst-affected sections were prioritized for repair ahead of a wet season that typically begins in late October or November. Spot repairs were completed over 14 kilometres using quality laterite sourced from within the mining licence itself, and compaction is continuing, with a compactor and water bowser remaining on the road while the balance of the fleet moves to site for earthworks. A local Tanzanian contractor delivered the work in coordination with the Tanzania Rural and Urban Roads Agency. The repairs support transport of materials, equipment and fuel to site, and they also improve movement of people and supplies to outlying villages. A broader long-term upgrade of the all-weather dirt road is contemplated.
At the project site, bush clearing is underway at Area C and will progress to the process plant area, while clearing and topsoil stripping advance at the pit, tailings storage facility, waste rock dump and dam sites. Topsoil is being stockpiled as a berm between the production area and the future camp to act as a sound barrier. Stripping and levelling of the run of mine pad has commenced, with excavated material used to construct the western berm inside the mining licence boundary. Levelling and cutting of the process plant platform will follow ahead of civil works, with tailings facility preparation sequenced after that.
The camp is the detail that says most about how the Company is approaching capital. Electrical installation, drainage, bathroom facilities and the generator shelter are complete, and the water system has been pressure-tested following earlier installation of water storage, power generation and plumbing. It is a build-once camp: the first phase of Imwelo's permanent operations camp, so infrastructure used by the construction workforce stays in service during operations rather than being torn down and replaced. That avoids duplicated expenditure at exactly the point in a project's life when duplicated expenditure is least affordable.
"These early works mark an important step as we move Imwelo from a fully permitted, development-ready asset toward construction," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "Reliable site access, preparation of the core infrastructure footprints and a substantially complete build-once camp are essential to that transition and reflect our practical, disciplined approach to development. The programme is being delivered by a local Tanzanian contractor in coordination with TARURA, supporting project execution while creating lasting benefits for surrounding communities."
The geography is not incidental. Imwelo sits west of AngloGold Ashanti's Geita mine, and the Company's separate Tembo project lies adjacent to Barrick's Bulyanhulu mine. Those operations are referenced here for regional and geological context only; mineralization on neighbouring properties is not necessarily indicative of mineralization at Imwelo or Tembo. Barrick holds an equity position in Lake Victoria Gold, and Tanzania's Taifa Group, the country's largest mining contractor, is contracted for civil works and contract mining. Management, directors and strategic partners collectively hold more than 60% of shares outstanding.
There are several risks associated with the Company's plans. Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, but those foreign-code studies are not current under NI 43-101. The Company has not completed a feasibility study on Imwelo establishing mineral reserves that demonstrate economic and technical viability, and is not treating the JORC-based estimates as current under CIM Definition Standards. Any decision to commence production would therefore not be based on a feasibility study of mineral reserves, which involves increased uncertainty and a higher risk of economic and technical failure. There is no certainty that the planned open-pit operation will be economically viable or that production will occur as anticipated. Risks include variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory and permitting risks. Early works are early works: a graded road and a levelled pad are not a mine.
CONTINUED... Read this and more news for Lake Victoria Gold Ltd. (OTCQB: LVGLF) at: https://americannewsgroup.com
In other industry developments and happenings in the market this week include:
IAMGOLD Corporation (NYSE: IAG) is an intermediate producer with mines in North America and West Africa, including Côté Gold and Westwood in Canada and Essakane in Burkina Faso, which makes it a useful reference point for what an African operation looks like once it is built and running. The company reported second quarter 2026 results with production of 188,100 ounces of gold and adjusted EBITDA of $507.3 million.
President and Chief Executive Officer Renaud Adams said the quarter kept the company firmly on track for full-year guidance of 720,000 to 820,000 ounces, and noted that a conveyor belt replacement in May and commissioning of a second cone crusher allowed the Côté plant to run at near full capacity in June. IAMGOLD ended the period in a net cash position with $1.3 billion of liquidity, and returned nearly $150 million to shareholders during the quarter, including $147.9 million of share repurchases.
B2Gold Corp. (NYSE American: BTG) operates Fekola in Mali, Otjikoto in Namibia, Masbate in the Philippines and Goose in Canada, and its second quarter illustrates how quickly a single operational incident travels through a producer's numbers. In results announced August 6, 2026, consolidated production was 203,648 ounces, in line with expectations, with Fekola, Masbate and Otjikoto each running ahead of plan.
That outperformance was offset by lower production at Goose following a fire in parts of the crushing circuit in April. Consolidated cash operating costs were $1,201 per ounce produced and all-in sustaining costs were $2,356 per ounce, with full-year guidance of 820,000 to 920,000 ounces at cash operating costs of $1,155 to $1,280 per ounce. The company also indicated it expects the Menankoto exploitation permit to be issued in the near term by the State of Mali, a reminder that permitting risk does not end when a company reaches production.
Alamos Gold Inc. (NYSE: AGI) is a North American intermediate producer whose most recent quarter is a case study in how development projects and operating mines interact. In its second quarter 2026 results, Alamos produced 130,600 ounces, up 5% from the first quarter, with revenue rising 36% year over year to $594.1 million and net earnings of $270.4 million, or $0.64 per share.
The Island Gold District delivered record quarterly production of 67,500 ounces alongside record underground mining and milling rates. Against that, the company cut full-year production guidance by roughly 12% to 510,000 to 560,000 ounces after a June seismic event limited access at the Young-Davidson underground mine, and raised all-in sustaining cost guidance to $1,775 to $1,875 per ounce. Free cash flow was $143.5 million and the quarter closed with approximately $637 million in cash. It is a reminder that in mining, the plan and the ground do not always agree, and that this risk does not disappear once a project is in production.
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This article is being distributed for Market Equities Limited, a company incorporated under the laws of Ireland ("MEL"), which wholly owns and operates American News Group. MEL has been paid a fee directly by Lake Victoria Gold Ltd. for Lake Victoria Gold Ltd. advertising and digital media services. MEL also expects to receive further compensation as part of an ongoing digital media effort to increase visibility for the company. No further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been approved by Lake Victoria Gold Ltd.
This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged not to use this publication as the basis for any investment decision.
Market Equities and its owners, operators, directors, and affiliates own shares of Lake Victoria Gold Ltd. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell, shares of Lake Victoria Gold Ltd. at any time without further notice, commencing immediately and ongoing, in the open market, through private placements, and/or through other investment vehicles. There may also be third parties who hold shares of Lake Victoria Gold Ltd. and may liquidate their shares, which could have a negative effect on the price of the stock.
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Qualified Person. The scientific and technical information regarding the Imwelo Gold Project contained in this article is derived from disclosure by Lake Victoria Gold Ltd. that has been reviewed and approved by David Scott, Pr. Sci. Nat., registered with the South African Council for Natural Scientific Professions, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Scott is a Director and Officer of Lake Victoria Gold Ltd. and is therefore NOT independent of the Company. The publisher has not independently verified any scientific or technical information in this article.
Cautionary Note on Production Decision and Mineral Resources. Although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, these foreign-code studies are not current under NI 43-101, and the Company is not treating the JORC-based estimates or analyses as current under CIM Definition Standards. The Company has not completed a feasibility study on Imwelo that establishes mineral reserves demonstrating economic and technical viability. Any decision to commence production is not based on a feasibility study of mineral reserves and therefore involves increased uncertainty and a higher risk of economic and technical failure. There is no certainty that the planned open-pit operation will be economically viable or that production will occur as anticipated. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory or permitting risks. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Descriptions of early works, road repairs, earthworks, camp infrastructure, contractor arrangements and project sequencing are as disclosed by the Company and have not been independently verified by the publisher.
Cautionary Note Regarding Adjacent and Nearby Properties. References in this article to the Geita mine operated by AngloGold Ashanti and to the Bulyanhulu mine operated by Barrick, and to their proximity to the Company's Imwelo and Tembo projects, are provided for regional and geological context only. Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization on the Company's properties. Barrick holds an equity position in Lake Victoria Gold Ltd. and is therefore a shareholder rather than a comparable company, and neither Barrick nor AngloGold Ashanti has any responsibility for, or involvement in, this article or the Company's projects. Filings are available under the Company's profile on SEDAR+ at www.sedarplus.ca.
Cautionary Note Regarding Referenced Companies. References to IAMGOLD Corporation, B2Gold Corp. and Alamos Gold Inc. are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of Lake Victoria Gold Ltd. They are producing companies at a materially different stage of development and scale from the profiled company, which is a development-stage issuer with no production, and their production, revenues, costs, guidance and share performance are not indicative of Lake Victoria Gold Ltd.'s prospects. None of those companies is involved in the production or distribution of this article. No partnership, affiliation, sponsorship, or endorsement is implied. Gold price forecasts cited in this article are third-party projections that may not be realised and do not represent revenue expectations for any company named, including the profiled company.
Eagle Eye Disclosure. Eagle Eye is an investor signal-intelligence platform affiliated with the publisher of this article, and this reference constitutes promotion of an affiliated product. Eagle Eye is not a broker-dealer, and nothing in the platform or in this article is financial, investment, tax, or legal advice. Data provided in the platform is for informational purposes only and may be delayed. Always do your own research before making any investment decision. See it at eagle-eye.dev.
Cautionary Note Regarding Forward-Looking Statements. This publication contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including, without limitation: statements regarding the completion and adequacy of access road repairs and continuing compaction; the progress and sequencing of clearing, stripping, levelling and bulk earthworks across the pit, tailings storage facility, waste rock dump, dam sites, run of mine pad and process plant platform; the completion and future use of the construction camp as a permanent operations camp; the contemplated long-term upgrade of the access road; the transition of Imwelo from a fully permitted, development-ready asset toward construction; the availability of funding; and the potential for future production. Forward-looking statements are generally identified by words such as "expect", "plan", "anticipate", "target", "potential", "schedule", "estimate", "intend" or "believe", or that events "will", "would", "may", "could" or "should" occur. Such statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond the Company's control, including the risk that any decision to commence production would not be based on a feasibility study of mineral reserves demonstrating economic and technical viability; construction, geotechnical, metallurgical, cost, weather, contractor, financing, permitting and regulatory risks; and the other risks identified in the Company's filings on SEDAR+ at www.sedarplus.ca. Do not place undue reliance on such statements. The forward-looking statements in this publication are made as of the date above and American News Group undertakes no obligation to update them.
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