Lake Victoria Mining sells gold forward

When it comes to finding alternative ways to raise money in today’s beaten down junior financing market, Lake Victoria Mining (US-OTC: LVCA) seems to have taken the task to a whole new level.

The Vancouver-based company has set up a website to sell gold forward at a discount to the precious metal’s spot price, but has yet to receive a mining license, let alone build a mine, at its Kinyambwiga gold project on the southeastern side of Lake Victoria in northeastern Tanzania.

The price per oz. of its forward sales will fluctuate with the spot price and the website (www.buygolddirect.biz) allows investors to choose the size and quantities of bars, delivery dates, and then check out online.

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