The royalty plan was presented to investors during a live webcast and investment function from Manhattan's Investorium.tv on Thursday October 11, 2012.
Presenting alongside Rob McEwen from McEwen Mining (NYSE:MUX) and Eric Sprott from Sprott Asset Management (TSE:SII), Mr Kalenuik explained the growth strategy for the company to institutional investors and capital markets participants.
An overview of the royalty plan can be downloaded here:
Using Royalty Purchase Agreements, the Company seeks to raise US$3 million from participants by selling up to 60% of the net proceeds of gold production of the Kinyambwiga gold project. The Company hopes that the Kinyambwiga will be the first of four gold projects that can be placed into small-scale production. The Company aims to move into a positive cash flow position by pursuing small-scale gold mining on its projects.
View the WebCast here:
About Lake Victoria Mining Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania is Africa's fourth largest gold producer, behind South Africa, Ghana and Mali, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds nine prospective gold projects and five uranium projects within its Tanzania property portfolio.
McEwen Mining Inc
Lake Victoria Mining Company