Post by
DoumDiDoum on Jul 16, 2016 10:14am
Learning from a success story...
I do not know if you guys had a chance to follow the nice run of Victoria Gold (V.VIT) this week, and in fact since April, but as a shareholder of this company, I currently have near 300% on this play. I do not have a large position, thanks to my poor investment in OX back in 2006, but I am happy to be part of this successfull story in gold.
My post is not to convince you guys to jump into VIT, but rather to suggest that OX follow the same strategy. Victoria is a junior with a nice low grade deposit and the management did not sit on their butt doing nothing in the last two years when the POG decreased. Instead of hoping that gold would reach 1500$ and that investors will look at gold again, they work hard with the Yukon governement to get all the necessary permits. The project is now shovel ready and the property gets some interrest from the big boys.
It is easy to say after the fact that it would have been a good move for Orex as well to get all the necessary papers, but it is never too late to kick the ball. Filling papers must not be costly and would advance the project and create value. I understand that promotion is also important but I think that we should as well keep working on the side to make sure we will be ready if/when a financing scenario will be discussed.
I think that my VIT position will get bigger in fall (they will publish an updated PEA with favourable economics) and I will be looking to transfer some of the position to another gold play... I already have a position in OX but I could add to it at that time if I see that things are moving.
GLTA
Comment by
DoumDiDoum on Jul 18, 2016 11:00am
Please be advised that they will release an updated Feasibility study (FS), not a PEA... My mistake, Regards,
Comment by
rpm111 on Jul 18, 2016 4:25pm
This post has been removed in accordance with Community Policy