Victoria Gold Corp T.VGCX

Covid19 is the new "Murphy"

[NickelOne]

It has been fun watching some defend and even praise mediocre results, finding excuses for enviromental spills, hoping "the next month will be better"... 

Truth be told, VGCX has failed on every single aspect this year. First it was Murphy, now it is Covid19....It is never incompetent management, shortcuts, poor design,  lack of planning, etc...

An effort was made in May to move more waste to get access to ore, waaaaaaaaaay short of FS estimates. They are supposed to mine 13.5M tons of waste in 2020 - only 10M left with 5 months gone.

It is hard to leach ore when it is not available....I will talk about recoveries later on this year, looking forward to it....

Get used to it!!! Covid19 is the new "Murphy". "Extreme weather" is the new "Murphy". What is next?

Are they going to have the currage to ever publish AISC???

Did I read that right:"we got caught with our pants down because the weather warmed up faster than we expected". Tell that the environmental regulators next time...


I guess Murphy has left site without notice... 

Good luck and don't forget to have fun!

[fasttrack5]

Not sure what your point is Nickel - sounds like you are not having fun. Certainly there has been some hiccups as they bring this mine forward to full production in the near future under as I previously said (trying conditions) weather - Covid 19 etc. Have patience or just sell and move on. Most here have probably already locked in a great profit from this investment and now just hold a core

[OCB1234]

This post has been removed in accordance with Community Policy

[NickelOne]

Fast - my point is that the management team does not own anything that happens on the property they control, they always seem to find some BS excuses (Murphy, climate change, pants down etc). With less than 135,000 oz produced this year (best case scenario) there is a lot of trouble on the horizon. AISC numbers will be an eye opener for many. It looks like FS numbers are totally out of reach

[NickelOne]

Correction - going below $12/share today.  GLTA

[KNOSBIGD32]

didn't you already state this, or are you adamant to make that point. I think its rather redundant when the POG is down 40 points. You have quite a grasp of the obvious or your TROLLING

[Greatdaysahead]

wiht POG down and markets going to the roof (short term).. no need of a crystal ball to expect gold producers stocks trending down at the opening.

[OCB1234]

This post has been removed in accordance with Community Policy

[Greatdaysahead]

Ramp up has been slower than anticipated. So yes, and with May production at 7756 vs 10'000 forecasted,and YTD at 25'000, we can expect 135'000 by end of the year (25'000 + 7 months @ 15'000 at best). Grade is better than anticipated @ 0.84 until now. This is something to keep in mind. You are hoping for a "bad" quarterly report, I am focusing on the future

[MVargas]

Greatdaysahead, I always appreciate your thoughtful point of view.  You could very well be right about your forecast for this year's production, but I would have instead said 7 months @ 15,000 at worst.   Although still ramping up to full production, in the March - May period 2,354,000 tonnes of ore at a 0.84 g/t were stacked on the HLP.  The contained gold is more than 63

[OCB1234]

This post has been removed in accordance with Community Policy

[Greatdaysahead]

Thanks for your comments. A little note about the production, oz sold and forecast... If we assume they sold the 25J oz produced up to May, it means that by end June, the roof price on the 40'000  oz hedged for 2020 will be gone :-) At 2260 CAD as per today against the hedge roof price of CAD 1936, this will provide an additional 3.5M CAD per month (assuming 15k prod per month).

[OCB1234]

This post has been removed in accordance with Community Policy

[MVargas]

As a point of clarification, the company hasn't hedged production per se, where they are required to deliver ounces at a previously agreed price, but instead they sold call options.  In reality it is like a side bet on the price of gold.  As of the end of May they haven't actually paid off those losing bets as the 2020 call options have terms between June 2020 and December 2020.&

[OCB1234]

This post has been removed in accordance with Community Policy

[Greatdaysahead]

Yes. They are selling at spot price but have to pay Macquarie when call are in the money. I asked the question a few week ago about the expiration date of the call. I wanted to know if they were paid off at the same time the gold was sold. If not, it means the "bet" would still be open.. and could go both direction. So my question would be : does VIT buy back the call when they

[NickelOne]

Greatdaysahead - I am not "hoping" for a bad quarterly report. I read Q1 quarterly report. Interesting enough the company and the management in charge of the company did not say anything about publishing them on May 28, 2020.  That is what I call "transparency" and "trust". Have fun reading. https://www.vitgoldcorp.com/site/assets/files/6531/2020-q1-fs.pdf

[fasttrack5]

[OCB1234]

This post has been removed in accordance with Community Policy

[Whateverrr]

He actually gives an educated run down on what is happening at the mine and the cause for the mediocre and poor numbers.  This is the way the market see it.  But you can't seem to see what his point is ?  Back to your cutting and pasting which you do best.

[Miner81]

They had no waste to move early this week, but had plenty of ore. That is from some one at the Mine site.

[Whateverrr]

Fast track, this post has complete backing for the opinion of the poster.  Quite simple to understand.  Why don't you question the silly stuff espoused by some of the posters with zero backing to thei wild opinions ?  YOu are biased, blind and pumping.  Ask the poster OCB where he gets the fact that Victoria Gold will have a NYSE listing in June ?  Ask him how he