Int'l Speculator reckons Virginia too high to buy Virginia Mines Inc (C:VGQ)
Shares Issued 31,903,740
Last Close 4/24/2012 $9.44
Wednesday April 25 2012 - In the News
The International Speculator in its April 5, 2012, issue, figures Virginia Mines Inc. is too high to buy at $9.90, but it is a "Buy under C$9.00." The newsletter said buy the Andre Gaumond play seven times between Feb. 1, 2007, and Nov. 3, 2011, at prices ranging from $3.89 to $8.94. Assuming an investment of $1,000 for each buy, the $7,000 investment is worth a rather nice $12,236. The Speculator's writer goes over the press releases and declares, "The Virginia story remains unchanged," while noting the company has revenue from its Eleonore royalty and what he calls interesting exploration projects to spend it on, but no clear promotable project. He also says the royalty underpins the value of the shares quite strongly. He is willing to be patient before taking on more risk in the play. Virginia's projects include Lac Pau, the Poste Lemoyne extension, Anatacau-Wabamisk, Eleonore regional, Ashuanipi and Corvet Est projects, all in Quebec. Fellow newsletter writer Lawrence Roulston said buy four times between July, 2006, and September, 2008, at prices ranging from $3.95 to $7.10, in his Resource Opportunities newsletter.
© 2012 Canjex Publishing Ltd.