Vancouver, Canada, Feb 7, 2014 - (ABN Newswire) - Lake Victoria Mining Company, Inc.,(OTCMTKS:LVCA) has commenced forward gold sales through "Buy Gold Direct", its web based offering of gold bullion bars. The Company, using Forward Gold Purchase Agreements intends to sell a portion of its planned monthly gold production in advance as a means to finance the capital costs of establishing their first medium size gold mine at the Kunanga Village area of the Kinyambwiga Gold Project, Tanzania.
The Company will begin immediately to enter Forward Gold Purchase Agreements with Accredited Investors worldwide to sell, in advance monthly portions of their planned gold production. The Company benefits by using a small portion of its existing asset to finance the project's development, without further dilution of their share structure. The Company will only sell a small portion to satisfy its capital needs and then it will suspend any further forward gold sales. The appeal for the gold buyer or gold investor is their ability to purchase gold bullion directly from the producer at a considerable discount to the current gold spot price and gold future's price in return for accepting a future delivery date from the Company.
President and CEO, David Kalenuik states: "Companies today must get creative and have tenacity to continue to fulfill their objectives and shareholder expectations. We believe that our team has been extremely creative in developing an alternative solution to funding our current capital requirements. We are taking a lesson from the big gold producers and institutions that have been forward gold selling for years. By using online sales, we are making it simple and easy for the accredited investor to play in the same game and receive the benefits. We are also proud of announcing the "Golden Rule", our social commitment to the Kunanga Village, that we have incorporated from "day one" into our Forward Gold sales."
Interested parties are invited to visit the Company's online offering at www.buygolddirect.biz where they will be able to shop, based on delivery month and availability, for 1 oz, 10 oz, 100 gram, 500 gram and 1 kilo gold bars. The pricing is dynamic and fluctuates with the current gold spot, gold future's, delivery date and what quantity of gold that the Company desires to forward sell. The website allows them to choose the size and quantities of bars and delivery date and then check out online. Upon checkout a buyer will receive all the documentation to complete their order and to properly verify that they are an accredited investor. Investors may also call: 1-604-307-9951 to complete their Forward Gold Purchase.
View the Buy Gold video 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.
Lake Victoria Mining Company, Inc.David T. Kalenuik, CEO / President
Victor Webb, Marston Webb International