TSX:VGCX - Post Discussion
Post by
phoenix_trader on Apr 08, 2024 11:12am
New upbeat SA analysis for Victoria Gold
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- Under the US symbol VITFF
- Victoria Gold Corp. had a decent 2023 despite a brief setback due to wildfires, but will have a much better 2024 from a financial standpoint with the recent gold price strength.
- However, the real improvement in free cash flow will arrive next year as we see higher production at much lower operating costs combined with lower capex.
Digging into the results a little closer, Victoria stacked ~9.0 million tonnes of ore in FY2023 (FY2022: ~6.62 million tonnes of ore), translating to a stacking rate of ~24,600 tonnes per day, up from ~18,100 tonnes in FY2022. Meanwhile, mining rates were also higher at ~55,300 tonnes per day (FY2022: ~48,000 tonnes per day), and stacked grades came in at 0.72 grams per tonne of gold, down from 0.85 grams per tonne of gold in the year-ago period. The increase in tonnes mined was helped by shorter haul distances and higher ore tonnes mined benefit from a lower strip ratio year-over-year.
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