Gold prices have surged above $4,100 per ounce, roughly 25% higher than a year ago, after setting a record of $5,597.23 per ounce on January 29, 2026. Analysts at JPMorgan forecast the metal reaching $4,300 in the third quarter and $4,500 by the fourth quarter. At these elevated prices, the scarce commodity in the gold sector is no longer ounces in the ground but execution. Fully permitted projects with experienced builders physically on site are commanding attention, and a handful of companies are delivering exactly that, including Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K), Endeavour Mining plc (LSE: EDV) (TSX: EDV) (OTCQX: EDVMF), Perseus Mining Limited (ASX: PRU) (TSX: PRU), Gold Fields Limited (NYSE: GFI) (JSE: GFI), and Predictive Discovery Limited (TSX: PDI) (ASX: PDI).
Mobilization at Lake Victoria Gold's Imwelo Project
Lake Victoria Gold Ltd. has announced that Charl Coetzee of Sutton Consulting International Limited has mobilized to the company's fully permitted Imwelo Gold Project in northwestern Tanzania as Project Manager. Coetzee is now on site supporting the approved Tanzanian-led Engineering, Procurement and Construction Management framework, under which City Engineering Company Ltd. serves as primary EPCM contractor and commercial lead, with Sutton providing international technical support.
Coetzee brings approximately 30 years of experience in the construction, commissioning, maintenance and operation of gold and minerals-processing plants across Africa, including in Angola, the Democratic Republic of Congo, Mozambique, Guinea and South Africa. His background includes a track record of delivering processing-plant installations on schedule and on budget, along with hands-on experience in commissioning support, operating readiness, maintenance systems and local workforce development.
Regulatory Milestone Turns into Site Activity
The mobilization follows closely on the Mining Commission's approval of Lake Victoria Gold's EPCM structure, turning a key regulatory milestone into visible activity at site. Coetzee's mandate covers field coordination, construction sequencing, contractor and supplier interfaces, and ensuring that incoming infrastructure and activity are organized in a disciplined, practical and safety conscious manner. Near term workstreams at Imwelo include site clearing, access road upgrades and construction utility installation; Phase 1 modular camp preparation and infrastructure layout; and procurement support and contractor interface planning.
Africa's Gold Construction Wave
Capital is following the builders. Tanzania is seeing its first major gold mine construction in 17 years, Guinea's newest gold mine reached commercial production in February with a tier-one development queued up behind it, and the seniors converting African ounces into record cash flow are being rewarded for it. Against that backdrop, news that boots are hitting the ground at another fully permitted project in the Lake Victoria Goldfield is landing at precisely the right moment.
