RE: Lake victoria gold.26 Mar 2026 16:25
Not gonna lie, I'd forgotten about LVG, had it in my head that we'd disposed of this as non-core. Probably conflating this with Goldridge (sounds a bit like old age, ironically ;)
Regards dilution and current valuation, AI says...
Since the period covered by the last AMG full annual report, LVG has completed several major raises:
September 2025 (LIFE Private Placement): LVG closed an oversubscribed "Listed Issuer Financing Exemption" (LIFE) placement, issuing 34,285,715 units at $0.175 CAD.
October 2025 (Concurrent Placement): They closed an additional placement of 11,428,571 shares, also at $0.175 CAD.
Overall Dilution: According to market data from March 2026, LVG's total shares outstanding have grown by approximately 32.5% over the last year, reaching roughly 195.3 million shares.
And...
Value Offset: Even though AMG’s percentage of the pie is smaller, the value of that pie has grown. LVG’s share price has risen from the $0.13–$0.17 range in 2025 to roughly $0.305 CAD in March 2026, following the 97% gold recovery results
And...
Even after the dilution, Atlas Metals' stake in Lake Victoria Gold is technically worth more than the entire market capitalization of Atlas Metals itself. This suggests that the market is either skeptical of AMG's ability to monetize the stake, or it is heavily discounting AMG due to its own recent "At-the-Market" (ATM) share issuances used to fund its other projects.
🤷♂️