Gold and nickel exploration and development company Katoro Gold will sell its Tanzanian Imweru gold project to Australia-based gold and mineral exploration company Lake Victoria Gold (LVG) for $1-million in cash or shares and a 1.5% net smelter royalty (NSR) on all future gold production from Imweru.
Prior to the disposal, Katoro’s wholly owned subsidiary, Reef Miners held the Imweru Gold project.