RE:RE:RE:RE:RE:RE:Patience Wearing ThinMVargas wrote:
Negative Nickel wasn't always negative. On the contrary he was one of the board's biggest boosters until his idol chilledjames turned negative because of the mine financing. This is from an earlier post - all still valid points except now the POG is much higher and fuel costs and the Canadian dollar are much lower. VGCX should be a no-brainer now.
1. A lot of retail investors stay away from development projects as there are always problems with reaching commercial production, fine tuning the process to reach target recoveries and get to steady state operation. VIT Eagle project is a basic, extremely simple process (drill, blast, haul, crush, stack and leach). With the amount of metallurgical testing done over the years I expect the gold recoveries will exceed the model and there will be no challenges to start stacking ore on the pad. 2. There is a lot to say from the exploration point of view. VIT is not only a one project company, they have a large, very promising land package that has a lot to offer yet. Once they start generating cash flow they will be in Yukon for a long time. 3. The best option for shareholders is to build the mine and start producing. A buyout offer would take all the upside potential away from the current shareholders. It has to be rich to get accepted... 4. Gold price is going nowhere but up from here, which makes the project very, very attractive. Even at current gold price, Eagle economics are great. 5. Compare VIT chart against any of the majors on a 3-5 years chart. You will see where is the best place to put your bets on. Good luck!
MVargas - I remember that post well and I still stand by everything I said. Almost everything I said still applies, a few things have changed since, so here is an update:
1. The lack of timely and correct information makes me wonder what other skeletons are in the closet. One big skeleton was the last financing, well below the market price and dilutive. I am almost certain another skeleton is related to recoveries, based on the large deviations from the FS I observed during construction and ramp up. I will get back to you on recoveries in 6 months time. I hope they prove me wrong!
2. Eagle economics are no longer that juicy due to financing terms, extremely high dilution, extremely high royalties, the worst hedge of the decade, costs overruns and last three financings to compensate for their inability to run a tight ship. A lot of the upside was sold for cheap...
3. I posted a couple of videos of John McConnell - those are things he stated not my words or my interpretation. If you listen and digest that information you will understand....
4. You always seem to have a problem with ChilledJames or myself. Chilled was one of the very few people posting quality and relevant information, saying things as they were (positive or negative) while holding a ton of stock (he had a lot of skin in the game). It just happens that I also hold a lot of Victoria Gold stock and I am not in love with my shares. They were sold and bought many times while a large core position was never touched. I hope VGCX proves me wrong and I make even more money.
Happy investing!