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Summary
Victoria Today
Focused on Eagle construction & operations
Positive Feasibility Study announced
207,000 oz/yr Au in first year;
C$260 M cash flow at current gold price of US$1,750/oz
Mine building team in place
Permitting remains on track for full production in 2015
Market cap is approx. $78M
Enterprise Value is approx. C$28M
Enterprise Value per ounce of Indicated Resources is C$8, and C$17 of Reserve
Divesting Nevada assets for cash
55% institutionally held
TSX-V : VIT
Issued Shares 340 M outstanding
Options 15 M @ an $0.56 avg. strike
Fully Diluted Shares 355 M
52 Week Low/High C$0.19 - $0.50
3 Month Avg. Daily Vol. 400,000 shares
Basic Market Cap C$78M
Working Capital +/- C$40 M
Debt nil
Enterprise Value +/- C$40 M
As at December, 2012
Eagle Gold Deposit Graph
Over the past 3 years, through exploration, the Eagle Gold deposit has grown from 2.7 million resource ounces to a National Instrument 43-101 compliant resource of 4.8 million ounces.
I have a Large position here with an average around $.42. Wish I heard of the company Now instead of then, but I still think the investment will be sound.
Ground Floor entry point here at $.19. IMO, anything under $.30 is a gift, as the project has been greatly De-risked, and will go into production by 2015.
-Stable jurisdiction
-200K+ Oz Annually
-Capex below $500M
-Cost Per Oz below $700
-Large Expansion & Exploration land Package
-$40M+ Cash
- $0 Debt
- Enterprise Value around $40M
Dirt Cheap !!!
Hi VW looking very interesting here, been watching for a while, about ready to start nibbling. It appears the Eagle Deposit may host 4 or more Million Oz., I haven't read the economics of this deposit, but will be into it over the weekend. The gold sell off is putting pressure on Jr miners, even those with great deposits. I've been nibbling at BAR/tsx BALMF/otc, as the price declines, even without a feasibility study because the drill results are so spectacular. thanks for Moding this board.
VIT remains a Great Value in the Junior space. 200K+ production open pit mine in Canada. 3-5X bagger in the next couple years IMO.
Van
Yukon Environmental Assessment Board Approves Victoria's Eagle Gold Project
MarketwirePress Release: Victoria Gold Corp. – 4 hours ago
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RELATED QUOTES
Symbol Price Change
VIT.V 0.215 0.02
TORONTO, ONTARIO--(Marketwire - Feb 19, 2013) - Victoria Gold Corp. (TSX VENTURE:VIT) ("Victoria" or the "Company") is pleased to announce the Yukon Environmental and Socio-Economic Assessment Board ("YESAB") has concluded its environmental assessment and issued a Final Screening Report. The Final Screening Report recommends that the Government of Canada and Yukon Government allow the Eagle Gold Project to proceed.
"The importance of the Final Screening Report should not be underestimated as it positions Victoria to embark on the next significant phase toward Eagle production." commented John McConnell, President & CEO. "Over the past year we have progressed detailed engineering, assembled a project build team and advanced negotiations on project financing to ensure we would be ready to begin construction in 2013."
Victoria first submitted a Project Proposal, initiating the environmental assessment process, in December 2010. Over the past two years YESAB has consulted with the general public, First Nations, Yukon Government, Federal agencies and Victoria''s permitting team to assess the environmental and socioeconomic effects of an economically robust project while maintaining strict environmental and safety standards. The Eagle Gold Project planning and assessment process has benefitted from the existing Comprehensive Cooperation and Benefits Agreement ("CBA") between the First Nation of Nacho Nyak Dun and Victoria.
The completion of the Final Screening Report will result in the issuance of Decision Documents by the Governments of Canada and Yukon. Subsequently, Victoria expects Yukon Government to issue a Quartz Mining License, which would allow for the start of construction.
About Victoria
Victoria Gold is an emerging gold producer whose flagship asset is its 100% owned Dublin Gulch property which hosts the Eagle Gold Deposit. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers north of the capital city of Whitehorse. The property covers an area of approximately 650 square kilometers, is accessible by road year-round and is located within Yukon Energy Corporation''s electrical grid.
The Eagle Gold Project is expected to be Yukon''s next operating gold mine and includes Probable Reserves of 2.3 million ozs of gold contained in 92 million tonnes of ore with a grade of 0.78 grams of gold per tonne, as outlined in a National Instrument 43-101 Compliant Feasibility Study. The NI 43-101 Compliant Mineral Resource has been estimated to host 222 million tonnes averaging 0.68 grams of gold per tonne, containing 4.9 million ounces of gold in the "Indicated" category, inclusive of Probable Reserves, and a further 78 million tonnes averaging 0.60 grams of gold per tonne, containing 1.5 million ounces of gold in the "Inferred" category.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: metal prices; exploration successes; continued availability of capital and financing; and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
Contact:
Victoria Gold Corp.
John McConnell
President & CEO
416-866-8800
416-866-8801
www.vitgoldcorp.com
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Stock is Dirt Cheap here.....if you don't have a position , or need to average down, this looks like a wonderful price to me.
With Financing and Permits in place, fair value for this company is around $0.75-$1.10
Trading at $0.22 currently.
Van
YESAB has issued the notice, that the VIT supplemental info was sufficient, and that they can move forward to a decision.
They have 60 days to issue. Not sure if they ever issue decisions early.
Cheers !!!!
Bankable And Soon To Be Banked
Victoria Prepares its Yukon Eagle Gold Project for April 2013 Construction
Kevin Michael Grace
December 13, 2012 - Victoria Gold Corp V.VIT announced November 27 it had signed a binding terms sheet to sell its interest in the Big Springs Gold Property in Elko County, Nevada, for US$6 million to MRG Copper LLC, a US subsidiary of Big Springs Project Pty Ltd, which is concurrently being acquired by Kimberley Rare Earths Ltd. The transaction will close in February 2013, subject to completion of due diligence.
The sale provides funds for the advancement of Victoria’s Eagle Gold Project, which is contained with its Dublin Gulch property, which is located 375 kilometres north of Whitehorse, Yukon, and scheduled to begin production in 2015. According to a February 2012 43-101 feasibility study, Eagle contains 91.6 million tonnes grading 0.78 grams per tonne gold for a resource of 2.3 million ounces proven and probable. The indicated resource is 4.86 million ounces, and the inferred resource is 1.49 million ounces. The study forecast annual production of 192,000 gold ounces for 12 years at a cost of $542 per ounce. The initial CAPEX (including prestripping) is $399.7 million, while life-of-mine sustaining capital costs are $132.9 million, and closure costs (net of salvage value) are $64.2 million. Based on $1,325-per-ounce gold, the project has a pretax net present value (NPV) of $380.8 million (at a 5% discount rate), a 24.1% internal rate of return (IRR) and a payback period of 3.1 years.
On October 29, Victoria Gold announced assays from six drillholes on the Olive target, located 2.5 kilometres from Eagle. Highlights include
1.72 grams per gold over 7.37 metres
1.44 g/t gold over 7.81 metres
1.06 g/t gold over 6.11 metres
2.11 g/t gold over 4.3 metres
2.56 g/t gold over 10.11 metres
(including 8.09 g/t gold over 1.43 metres)
3.28 g/t gold over 4.6 metres
3.12 g/t gold over 6.4 metres
President/CEO John McConnell spoke to Kevin Michael Grace December 11 - read that interview here. http://resourceswire.com/2012/12/bankable-and-soon-to-be-banked/
November 27, 2012 4:56 PM ET
Victoria Gold Enters Into Agreement to Sell Its Big Springs Property in Nevada
Nov 27, 2012 16:01:26 (ET)
TORONTO, ONTARIO, Nov 27, 2012 (MARKETWIRE via COMTEX) -- Victoria Gold Corp. ("Victoria" or the "Company") is pleased to announce that it has agreed, by way of a binding terms sheet, to sell its interest in the Big Springs Property (the "Property"), located in Elko County, Nevada, to MRG Copper LLC which is a US subsidiary of Big Springs Project Pty Ltd. and which is concurrently being acquired by Kimberley Rare Earths Limited (together, the "Buyers").
Closing of the transaction is expected to occur in February 2013 and is subject to completion of due diligence by the Buyers, execution of a Definitive Agreement.
Total consideration for the purchase of the Property is up to US$6,000,000 which shall be satisfied by the delivery to Victoria of:
i.) US$2,000,000 on closing,
ii.) US$2,000,000 sixty days from closing, and
iii.) contingent milestone payments of up to US$2,000,000, predominantly
subject to satisfaction of JORC resource performance objectives.
Breakout Imminent
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76615892
Volume spike and nice price action this morning. VIT is too cheap to ignore, and the market knows this fact.
Final permits within weeks, and Funds to build EAGLE shortly after. Sale of Santa Fe or Big Springs would be very positive in my mind as well.
Fresh Releases - October 29, 2012
Victoria Gold V.VIT | Mawson Resources T.MAW | Continental Gold T.CNL
Kevin Michael Grace
Victoria reports Yukon Gold Assays up to 2.56 g/t over 10.1m
Continental reports Colombia Assays up to 23.7 g/t Gold, 184.9 g/t Silver over 29.1m
Mawson reports Finland Gold Grab Samples up to 2,817 g/t
Read the rest of these assay results and their press release summaries. http://resourceswire.com/2012/10/fresh-releases-11/
This $.30 level will not last much longer. Expecting $.45+ by Jan 1st, and much higher on the right news.
Van
Anyone else loading this Gem here besides me. Forget the Penny stock JUNK, and other stuff on IHUB.....get into a few REAL companies that can indeed be 10X stocks. VIT tops my list.
Real 10 Bag potential:
Victoria Gold Corp (VIT)
HRTPY (HRP.V)
Crocodile Gold
Perpetual Energy Corp
Chariot Oil and Gas
Kiska Metals
Kimber Resources
Axu
RVM
GMXR (Risky, purely if they survive)
VAlue Metrics Link
http://www.goldminerpulse.com/c/vit.php
Nice price/volume action today. I get the feeling that this coiled spring is about to Takeoff.
Company has $60M in cash, along with $25M in contingent and royalty receivables, and a total market cap of $85M.
This company is worth $1.00 today as we sit, and will either get bought out, or the share price will have to appreciate greatly.
With Eagle Built, the valuation Jumps tremendously.
You beat me to it. Good article. Sounds like they have a large chunk of the Debt figured out ?!?!? Pretty Big Deal IMO
http://resourceswire.com/2012/09/the-eagle-is-close-to-takeoff/
The Eagle Is Close to Takeoff
Interview with Victoria Gold CEO John McConnell
Kevin Michael Grace
Victoria Gold Corp V.VIT announced September 4 the completion by the Yukon Environmental and Socio-Economic Assessment Board of the Draft Screening Report for its Eagle Gold Project, located 375 kilometres north of Whitehorse, Yukon Territory. The report recommended that “the Eagle Gold Project be allowed to proceed without a review.” As a result, completion of the environmental assessment process is expected by 1Q 2013.
According to a February 2012 feasibility study, Eagle contains 91.6 million tonnes grading 0.78 grams per tonne gold for a resource of 2.3 million ounces proven and probable. The indicated resource is 4.86 million ounces, and the inferred resource is 1.49 million ounces. The study forecast annual production of 192,000 gold ounces for 12 years at a cost of $542 per ounce. The initial CAPEX (including prestripping) is $399.7 million, while life-of-mine sustaining capital costs are $132.9 million and closure costs (net of salvage value) are $64.2 million. Based on $1,325-per-ounce gold, the project has a pretax net present value (NPV) of $380.8 million (at a 5% discount rate), a 24.1% internal rate of return and a payback period of 3.1 years.
Read more of this interview with Victoria Gold CEO John McConnell. http://resourceswire.com/2012/09/the-eagle-is-close-to-takeoff/
Still buying here. Latest Drill results are quite good. Fair Market value with gold around $1700 is 5-10X the share price today.
Best of Breed. Following the Pop in gold today, I believe the next Run above $1900 has just begun for the metal.
Here is a list of the companies I believe represent the best Upside, in the coming 3-18 months. Based on prices today (primero has already made a decent run for example). In the coming environment, 2-5X gains are very possible for this entire list, even for a couple of the large companies.
1. Victoria Gold Corp - my top pick from $.27
2. Crocodile Gold
3. Kimber Resources
4. Brigus
6. Lake Shore Gold
7. Rubicon
8. Exeter
9. IAMGOLD
10 CDE
11.PAAS
12.SVM
13.Prevtium
14.NAK
15.RVM
For the Oil and Gas guys HRTPY is the best chance I see for making a 10X gain in the next 12 months.
Good Luck
I bet this closes 2012 above $.45. Odds are against me, but a Double from here looks mighty easy to me.
Victoria is CHEAP by every metric.......I like to buy these juniors when they are cheap, and the market right now is selling them for nothing.
VIT
RVM
RBY
KISKA
CROC
BRD
SVM
JAG
KBX
PPP = already moving big !!!
I may be early to this party.......but a party it will end up being. This company is undervalued by a multiple of 3X, and with their next asset sale will have more Cash in hand, than the current marketcap.
Secondly, a major will come along at that point and snatch up VIT, as the company will have a turnkey Mine ready to Build, and upwards of 9M-10M oz. of proven Gold in Canada, the best jurisdiction in this unstable world.
Holding pattern continues....... I think we should hear something from the company in the next week or so.
They continue to say financing for Q3 in 2012......so they only have about 8 weeks yet for that goal..........should be interesting.
I would welcome a Major JV at this point.
Van
I continue to Load, and Buy Dips. I see the long term value......and think Eagle will eventually be built.
Van
Great Bottoming Chart by Fringe !!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76615892
I liked VIT at .47, and I really like it here at .26. Nothing has changed, and the company is monetizing their assets quite rapidly to shore up capital to fund eagle.
I think the Permits and Power agreement should be finalized in the next 12 weeks or so, and then we should be back above the .40 leve in share price.
Great prospects, and Trading at like 20M market cap, minus cash on hand. Add in the back end contingent payments....and this sucker is trading at net cash.
LONG VIT
Victoria Remains a very cheap way to play Canada Gold. The company recently acquired by IAG has a very similar lower grade profile, with a similar growth potential. The buyout valued at around 85 an oz. puts a perspective on the VALUE here with Victoria gold.
Enterprise value now Of Victoria Gold is something like 60M. DIRT cheap. a buyout offer at $200M, would only cost the buyer $160M due to the cash holdings coming into play. That along with a Sale of Mill project for 80M-100M would get you the company for a cool 60M....... and that's at a $.60 share price.
WAY too Cheap !!!
Loading while I can at these levels.
Van
It's like I tell my clients. It is painful and lonely being right when the herd is running against you but the cliff is still there and when it's all over you will be the only one standing.
I don't know when it will turn for us but it will and it will be explosive. IMO
Ya, unfortunately the Shareholders have taken a huge bath the past 4 months.......more to do with the entire sector than the company in my opinion.
I am loaded up to the Nuts, at around $.46 avg, and although it is WAY above this current level, I think I'll be money ahead on the stock within 12 months.
If they can Ink a deal on the property next to Barrick, for a solid price.....I think the puzzle will be nearly complete to getting a Royalty company to step up to the plate.
With that and Bank financing of around 225M, we should be good to go forward with EAGLE, and cash flow 250M+ per year at current gold prices.
Van
I do like managements approach. Very shareholder friendly...
Despite others opinions, I think this shows VIT will indeed Raise the Capital to finance EAGLE, and by selling off properties, the dillution will be kept to a minimum.
Victoria is a Steal at these prices, and I think a major like IAG or AQU would be a fool not to come in and buy the company outright for 150M
Van
Victoria Gold Enters Into Agreement to Sell the Cove Property in Nevada
TORONTO, ONTARIO--(Marketwire - April 10, 2012) - Victoria Gold Corp. (TSX VENTURE:VIT) ("Victoria" or the "Company") is pleased to announce that it has accepted an offer from Premier Gold Mines Limited ("Premier"), for its interest in the Cove McCoy Property (the "Property"), located in Lander County, Nevada. The Property consists of claims and leasehold interests which the Company is leasing or sub-leasing from Newmont USA Limited, a subsidiary of Newmont Mining Corporation ("Newmont"), through a Minerals Lease and Sublease agreement (the "Agreement") dated June 15, 2006 as well as unpatented claims which are held by a wholly owned subsidiary of Victoria.
"Victoria continues to execute on the options available to further bolster our working capital position while illustrating the importance we are placing on dilution control." commented John McConnell, President & CEO. "The funds from the Cove sale are slated to be used for construction activities at the Eagle Gold Project, which is expected to be Yukon's next operating gold mine."
Total consideration of up to Cdn $48,000,000 shall be satisfied by the delivery to Victoria of:
Cdn $8,000,000 paid to Victoria on the closing of the transaction;
Cdn $10,000,000 paid to Victoria on or before the date that is 12 months after the closing of the transaction;
Cdn $10,000,000 paid to Victoria on or before the date that is 24 months after the closing of the transaction;
Cdn $20,000,000, payable in four installments of Cdn $5,000,000 each upon the cumulative production, to Premier's account, of 250,000, 500,000, 750,000 and 1,000,000 troy ounces of gold from the Project.
Up to 50% of payments in a), b), and c) above may be satisfied through the issuance of common shares of Premier, at Premier's option, with the remainder payable in cash. The payments in d) above may be satisfied through cash payments or the issuance of common shares of Premier, at Premier's option.
The closing of the transaction is expected to occur in May 2012.
Victoria Gold Sells Relief Canyon Property in Nevada
March 27, 2012: Victoria Gold Corp. (TSX-V: VIT-V "Victoria" or the "Company") is pleased to announce that it has accepted an offer, valued at US$6 million, from Pershing Gold Corp. (“Pershing”), for its interest in the Relief Canyon Property (the “Property”), in Pershing County, Nevada. The Property consists of claims and leasehold interests which the Company is leasing or sub-leasing from Newmont USA Limited, a subsidiary of Newmont Mining Corporation (“Newmont”), through a Minerals Lease and Sublease agreement (the “Agreement”) signed on June 15, 2006 as well as unpatented claims which are held by a wholly owned subsidiary of Victoria, and subject to the Agreement.
The purchase price for the Property shall be satisfied by the delivery to Victoria, on closing, of US$2 million cash and 10 million units valued at US$0.40/unit, each unit comprised of 1 share of Pershing common stock (OTCBB: PGLC) and one half warrant, each whole warrant exercisable into one share of common stock at $0.60/share for two years. As additional consideration, Victoria will be granted a 2% net smelter return royalty on the production from all mining claims on the Property which are not subject to a royalty on behalf of Newmont.
The closing of the transaction contemplated by the offer is expected to occur on or before April 10, 2012. Closing is subject only to finalization of closing documentation.
John McConnell, President & CEO commented, "The value of the Relief Canyon property will be maximized by combining it with Pershing’s other contiguous properties and we wish Pershing the best as they expand their holdings in the area. The sale will also allow Victoria to focus its resources on advancing the Eagle Gold Deposit on the Dublin Gulch property in the Yukon".
I hear ya! My wife prays every day that I'm not wrong about the future of these little companies because everything we have is invested in them. 65 companies and growing.
Man, these junior's and majors in mining are getting WAY WAY WAY too cheap. IAG & CDE in the majors space......and VIT and Golden Predator are so Cheap.
Loading more VIT later this week.........my share count is becoming obscene.
It's that way in most of my stocks. It's lonely being right all the time...lol
GSFL, Looks like it's just you and me........at least we're here prior to the party !!!!!!!!!
Well said and well done.
Wondering how the share price will move during the next 12-18 months, prior to Gold production.
I for one will continue to add in this range, as I feel the Company is greatly undervalued.
Van
APPOINTS CHIEF OPERATING OFFICER WITH EXTENSIVE HEAP LEACH MINE BUILDING EXPERIENCE
February 23, 2012 – Victoria Gold Corp. (TSX-V: VIT) (“Victoria” or “The Company”) is pleased to announce the appointment of Mr. Andrew Kaczmarek as the Company’s new Chief Operating Officer (COO), effective March 15, 2012. Mr. Kaczmarek has over 35 years of diverse natural resource experience in project development, construction and operations, having held senior management positions with developing and producing companies including; Anatolia Minerals Development Limited (now Alacer Gold Corporation), Kinross Gold Corporation, Gabriel Resources Limited and Cyprus Amax Minerals.
“We are delighted that an individual with Andy’s breadth of experience and knowledge has chosen to join Victoria”, said John McConnell, President & CEO. “Andy had numerous opportunities and his choice of Victoria is a testament to the quality of Victoria’s Eagle Gold Project”.
In his most recent position as Vice President, Mine Development, Mr. Kaczmarek was successful in taking the Çöpler Gold Project, located in east-central Turkey, from scoping studies through to feasibility, environmental baseline studies, permitting, engineering, village relocation, construction, commissioning and production. Çöpler is a 15,500 tonnes per day open-pit gold mine including a three-stage crushing circuit, in-valley heap leach and an adsorption desorption gold recovery plant.
At Kinross, Mr. Kaczmarek successfully managed the engineering and construction work for the re-opening of the Maricunga Mine located in Northern Chile. This was a fast track project with construction commencing before all the engineering was completed. Maricunga is a high altitude, cold weather, 40,000 tonnes per day open-pit gold mine including a three-stage crushing circuit, in-valley heap leach and an adsorption desorption gold recovery plant.
Mr. Kaczmarek holds a Bachelor of Science degree in Mining Engineering from the Royal School of Mines and completed Stermole’s Investment and Economic Analysis Program at the Colorado School of Mines. He holds Canadian, British, and United States citizenship.
About Eagle
Victoria’s 100% owned Dublin Gulch gold property is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 40 kilometers from the town of Mayo. The property is accessible by road year round, and is located within Yukon Energy’s electrical grid. The Company has constructed a 100 person all season camp at the project site.
The property covers an area of approximately 650 square kilometers, and is the site of the Company’s Eagle Gold Deposit, which has been estimated to host a NI 43-101 Compliant Mineral Resource of 222 million tonnes averaging 0.68 grams of gold per tonne, containing 4.86 million ounces of gold in the “Indicated” category, inclusive of Probable Reserves, and a further 78 million tonnes averaging 0.60 grams of gold per tonne, containing 1.49 million ounces of gold in the “Inferred” category.
About Victoria
Victoria is a high growth gold company with a focus on adding value per share through efficient exploration, project development, accretive acquisitions and effective marketing. Maintaining a low risk profile through project diversification, sound financial management, and operating in secure jurisdictions are key priorities for Victoria’s management team.
Feasibility study OUT !!!!!!
http://finance.yahoo.com/news/Positive-Feasibility-Study-iw-37984770.html?x=0
Conference call tomorrow morning !!!!!!!!
Van
Good analysis on victoria here by Raymond James
http://www.andrewjohns.ca/sites/default/files/VIT_RJ_20110907.PDF
Technical analysis on VITFF. for what its worth.
VITFF Victoria Gold Corp Intraday Analysis Add to Watch List FAQ
Symbol Last Trade Date Change Open High Low Volume
VITFF 0.483 Feb-06-2012 -0.01 0.4835 0.494 0.482 27,400
Note: Canadian symbols now end in .c i.e SYMB.C
Analysis Overall Short Intermediate Long
Bullish (0.33) Bullish (0.39) Bullish (0.38) Neutral (0.24)
Support/Resistance
Type Value Conf.
resist. 0.69 2
resist. 0.67 2
resist. 0.62 2
resist. 0.56 7
resist. 0.53 3
supp 0.48 14
supp 0.44 12
supp 0.41 6
supp 0.39 3
supp 0.37 2
supp 0.33 7
Chart Indicators
Ind. short Inter Long
EMA VBu VBu VBu
MACD VBu VBu VBu
RSI Bu
TDD Bu
Fibs VBu Bu Be
Highs N Be VBe
Lows Bu N Bu
Trends VBu N Bu
Stoch. VBu
VBu=Very Bullish, Bu=Bullish
N=Neutral
Be=Bearish, VBe=Very Bearish
Printer friendly charts
I am expecting VERY GOOD numbers out of the Feasibility study that is due out any day now.......
Look for longer mine life, and HIGHER total value for the Eagle project.
Latest Corporate Presentation:
http://www.victoriaresourcecorp.com/site/vitgoldcorp/assets/pdf/VIT_Corp_Pres_Final__Oct_14th_2011_.pdf
Victoria Gold Corp is a Best in Breed Junior miner that has all the Tools/project sites/ and First nations agreements to make it a Billion dollar company in the coming years.
Great entry place for this little gem.
Van
Feasibility comes out any day now..........I am expecting some phenominal numbers !!!
This is my favorite Stock for the next 5 years. Totally undervalued.
Victoria Provides a 2011 Review while Enthusiasm Grows for 2012
January 24, 2012 - Toronto, Ontario - Victoria Gold Corp. (the “Company”) is pleased to provide a review of 2011 while looking forward to key near term milestones the Company expects to achieve in 2012. All dollar amounts in this news release are expressed in Canadian dollars unless otherwise stated.
John McConnell, President and CEO stated: “2011 has been a transformational year for Victoria. We have achieved significant steps to becoming Yukon’s next gold producer. In addition to our skilled exploration team, the Company now boasts considerable development and construction experience. This growing team, focused on developing the Eagle Gold Mine in the Yukon, will drive important milestones, including the anticipated start of construction in the second half 2012”.
2011 Review:
In March, the Company filed a Resource Update for the Eagle Gold Deposit which increased the gold resource from 3.2 million oz Indicated to 4.8 million oz Indicated plus 1.5 million oz Inferred;
Completed 67 holes for 13,260 meters of drilling in the Yukon;
Increased the Dublin Gulch, Yukon land position from approximately 400 square kilometers to approximately 650 square kilometers;
Completed a Comprehensive Benefits Agreement with the Nacho Nyak Dunn in anticipation of future production from the Eagle Gold Deposit;
Completed a Letter of Intent with Yukon Energy Corporation for the delivery of grid power for the construction and operation of the Eagle Gold Mine; ? Successfully completed the first year of the Environmental Assessment for Eagle which is anticipated to be complete in 2012; ? Increased the team from 18 to 30 employees including VP Mine Support Services, Acting VP Exploration;
Added financial and development/operations experience to the Board of Directors with the addition of Christopher Hill and Edward Dowling
Completed 5 holes for 2,560 meters of drilling in Nevada (Mill Canyon and Cove-Helen); and
Completed a $30 million equity financing.
2012 Current and Near Term Activities:
The Company plans to press release the results of the Eagle Feasibility Study in the first quarter of 2011;
Continue the Eagle drilling program to further test in pit, near surface, higher grade, high recovery oxide targets and improve resource confidence (there are currently two drills turning at Eagle);
Anticipate completion of the Environmental Assessment and receipt of the Quartz Mining License to allow the start of construction;
With the growth of the Eagle Resource, a Preliminary Economic Assessment will be undertaken to determine the benefits of adding a second heap leach pad and increasing annual gold production;
Completion of a Power Purchase Agreement to secure grid power for Eagle;
Fully develop the owners team that will take the Eagle Gold Deposit into construction and operations;
Execute major EPCM contracts for construction; and
Complete the Cove Helen drilling program, which is currently on the fourth of ten holes.
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Eagle Project Permitting going smoothly.
Highlights of the Feasibility Study | |
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(all amounts in Canadian dollars unless otherwise stated) | |
Probable Gold Reserves (oz) | 2,300,768 |
Average annual gold production (oz, first 5 years) | 212,000 |
Average annualized gold production (oz, LOM) | 192,000 |
Initial capital expenditure | $382,799,000 |
Capitalized pre-stripping for mining operations | $16,941,000 |
Operating costs ($ per tonne processed, first 5 years) | $11.95 |
Operating costs ($ per tonne processed, LOM) | $12.21 |
Operating cost per ounce ($US/oz, first 5 years) | $542 |
80 Richmond Street West
Suite 303
Toronto, Ontario M5H 2A4
Canada
Tel: 416-866-8800
Fax: 416-866-8801
240 South Rock Boulevard
Suite 117
Reno, Nevada 89502
United States
Tel: 775-856-4477
Fax: 775-856-4479
Please contact Norman Chang at:
Tel: 1-800-564-6253 (toll free in Canada and the USA)
Tel: 416-262-9200
Fax: 416-263-9394
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