Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
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Lake Victoria Mining has purchased a mobile auger drill rig to provide soil sampling services over “mbuga” covered areas of its gold projects in the Lake Victoria Greenstone Gold Belt of Tanzania. Dr. Roger Newell, Chairman of Lake Victoria: “The addition of the auger rig as a cost effective exploration tool will help us rapidly evaluate our mbuga covered targets without having to rely on the availability and expensive commercial RAB rigs during this early stage of exploration. Since a large proportion of the land mass in the Lake Victoria Gold District is covered by mbuga the chances of making a new gold discovery in areas of our existing licenses is very good. [We are] committed to ensure that no stone is left unturned in the quest for targets beneath the mbuga.
