Victoria Gold Corp T.VGCX

Whitehorse Star Interview with McConnell

[MVargas]

According to JM, as quoted in the Tuesday edition of the Whitehorse Star, it will take an another 3 years to get approvals for the Brewary Creek project.

https://www.whitehorsestar.com/News/victoria-gold-corp-purchases-several-properties

He also said that Victoria produces roughly 180,000 oz/year.  They haven't produced close to that number yet so maybe he means this year?

Re Q3 of 2021 production, that was an off-quarter due to a substantial quantity of ROM ore (uncrushed ore) placed on the HLP during that quarter.  That was done to impress the particiapants at the Denver Gold Forum in Sept 2021, but gold recoveries suffer from putting uncrushed ore on the pad and they discontinued that practice.  So I wouldn't be using it as a benchmark for this quarter.  I'm expecting something in the 42k - 45k range.

45k in Q3 and 50k in Q4 would get us close to the 180k mark for 2023.

This is what JM had to say at this year's Denver Gold Forum:

"I'm feeling really good about how the mine is running right now. We're hitting our budgets and all of our targets"

The current Mine Plan shows production of 180k oz in 2023 and 193k oz in 2024.

[Human7]

Thanks for that Vargas. I find it especiallly interesting that JM said they were the ones that approached Sabre. My take on it is that JM is hell-bent on becoming a major producer and making it too complicated for anyone to put forward another VGCX takeover bid in the meantime. 

[Greatdaysahead]

We got 41'500. We have to consider from now on "a reduction in seasonality as a result of year-round ore stacking on the heap leach pad, a more even distribution of planned maintenance throughout the year and a growing heap leach pad which moderates quarter over quarter gold production." Based on this number, we can expect 48-50K for 4Q which should bring the 2023 prod close to

[kegman]

Yes if we get to 175 it will be a featyer in the cap.  If it is in the 160's ....Houston, we have a problem.  Look forward to quaterly call.  Since I cannot get anyone to call me back....will have to wait until then.  Still recommend an IR person.  Will also watch short results coming out tonight.  GMT is a worry.  

[crazytimes]

Hi kegman, just wondering why do you consider GMT a worry?

[kegman]

My understanding is GMT likes to play the shorting game.  WE were hammered hard previously.  Huge short % for a tightly held company last year.  I didn't think the 3rd quarter was terrible but some explaining on the lower gold % per ton would be helpful.  Lot of factors hitting us now.  WE still have gold above $1800 and we have the $2070 hedge going too.  Seems

[crazytimes]

Didn't know that about GMT! Thanks for the info.