Casey comments...From Stockwatch....
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Casey says Virginia delivers, and may yet deliver more
2005-07-27 16:19 ET - In the News
Douglas Casey, writing in the July 1, 2005, edition of his International Speculator, refreshes his buy of Virginia Gold Mines Inc. at $6.42. Mr. Casey said buy four times between April, 1999, and April, 2005, between 56 cents and $4.84. An investment of $1,000 each time would be worth $23,067 today. The polo-playing letter writer says Virginia Gold has been one of his big successes in the last year, but it was a long time coming. He reminds subscribers that it takes time to find and develop a mineral deposit -- about 10 years in Virginia's case. The wait has been well worth it, he says. The Eleonore property continues to show high grades with good continuity, and the system remains open laterally and at depth. On June 9, 2005, Virginia reported that the Roberto system was traced laterally over more than 1.2 kilometres and to a vertical depth of 550 metres. The drilling hit many excellent intercepts, including 20.66 grams per tonne Au over 12.05 m and 51.91 g/t Au over 2.4 m. Furthermore, work carried out in the periphery of the Roberto system indicates the emergence of very promising new gold-bearing zones. Mr. Casey concludes that while Virginia is not cheap, it could easily double again.