The Builder's Market: 5 Gold Stocks Transitioning to Cash Flow - G2 Goldfields (OTC:GUYGF), Lundin Gold (OTC:LUGDF)

Industry Overview - Gold developers are advancing construction decisions due to record producer margins, with all-in sustaining costs averaging $1,600 per ounce and gold prices exceeding $4,400, creating a unique opportunity for mine construction [1][2] - 97% of gold producers are operating with positive margins, making the financial case for new mine construction compelling, supported by short payback periods and strong internal rates of return [2][3] Company Highlights - Lake Victoria Gold has confirmed high-grade gold mineralization at its Tembo Project in Tanzania, with grades up to 35.45 g/t, and is focusing on defining resources and finalizing processing agreements [3][4] - The company is in discussions with Nyati Resources to access a processing plant, expecting to finalize an agreement by early 2026, which will facilitate near-term production [5] - Lake Victoria Gold's drilling program at Ngula 1 is set to begin in Q1 2026, targeting a strike length of 300 to 400 meters with consistently high grades [6] - The company is also advancing its Imwelo Gold Project, located near AngloGold Ashanti's Geita Mine, with recent drill results extending mineralization beyond current designs [6][7] - i-80 Gold Corp. plans to refurbish its Lone Tree Plant in Northern Nevada with an estimated capital cost of $412 million, aiming for a short payback period of 12 to 24 months [9][10] - The refurbished plant will process material from three high-grade underground mines, reducing processing costs significantly and increasing margins by $1,000 to $1,500 per ounce [11] - McEwen Inc. has received approval for the extension of its Environmental Impact Assessment for the El Gallo Mine, with Phase 1 expected to produce approximately 20,000 gold equivalent ounces annually starting mid-2027 [12][13] - Lundin Gold Inc. targets gold production of 475,000 to 525,000 ounces at its Fruta del Norte mine in 2026, with cash operating costs between $900 to $960 per ounce [14][15] - The company is launching an $85 million exploration campaign, the largest in its history, and plans to maintain a fixed quarterly dividend of $0.30 per share [15] - G2 Goldfields Inc. has delivered a maiden PEA for its Oko Gold Project, projecting an average production of 281,000 ounces annually at all-in sustaining costs of $1,137 per ounce, with an after-tax NPV of $2.6 billion [16][17] - The project requires initial capital of $664 million and is positioned for potential resource expansion as drilling continues [17]