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willexon Mar 08, 2007 7:47am
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Post# 12378432
TGDL Victoria Resources Special
TGDL Victoria Resources SpecialHello,
The Gold Discovery Letter did send the following article to their members March 5. As a special promotion for our Premium Service we publish it here as well. (www.golddrivers.com)
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Victoria Resources Special
A new chapter of Nevada exploration history?
By Willem Middelkoop and Robert Proby
As promised here finally our special on Victoria Resources. But unfortunately the most interesting section is not part of it. On request of the management of Victoria we decided to withhold publication of the interviews with several geologists of Victoria. Victoria still finds itself in a transition period in which the company can’t disclose any material information.
Bema Gold used to have a 30% stake in the company. In fact they managed the company since key positions were taken by Bema people. This also explains part of the lack of openness from Victoria. Normally junior exploration companies need all the publicity they can get. But for Bema Gold, since February 28 owned by Kinross, publicity would not be very helpful. They didn’t need the retail investors and so doesn’t Newmont Mining, which actually owned much of these properties before they gave the projects to explore to Victoria. They have a guaranteed back-in right for 51% of the project, in case Victoria finds more than 500.000 ounces of gold.
After the press release by Victoria January 9 of holes NW-1 and NW-3, the discovery of such a deposit seems to be a question of time only. So we are dealing here with two majors who have a very large interest in a small junior exploration company and both decided to stay as much under the radar as possible so they could stake as much of the area as possible.
The following picture, from the new website, proofs we are not dealing here with the average exploration company. More than 10 geologists, 4 of them top guys with Dr. titles, are working on the Victoria properties.
When Victoria made the discovery in hole NW-1 and NW-3 the company was, by law, obliged to inform all investors. But in the press release the news was buried as much as possible. The best grades in years, “225 meters of 2.72 g/ton gold from a depth of 435 meters down to 661 meters”, found by an exploration company in Nevada were mentioned only halfway the release.
Our intuition told us this was a story we had to research as deep as possible. This was the first time after the first Aurelian discovery news of April 2006, we spend so much time studying one exploration company. Hours of research led to the main players of this exciting new discovery. We even interviewed two of the main geologist on the project. But when we showed the transcripts to the management of Victoria we were asked not to publish because this could cause serious distress, given the sensitive change of ownership and the position of some of the people we talked to so we decided to give Victoria some more time. The company is in the process of sharing more information with investors. This can also be seen on the first pages of their new website which is currently being constructed. (https://victoriaresourcecorp.com)
We hope Victoria will share their maps and geological concept with all share holders in stead of only showing them to the 30% stakeholder.
During our own search we came in contact with a retail investor in Victoria, who has been studying the geological developments in Nevada for over than 25 years. But in the last few years he really concentrated on Victoria. Even insiders are impressed by his analysis. So we decided to ask him to write a comprehensive report about the current developments in Nevada and Victoria.
Although we don’t publish the interviews with Victoria insiders yet, we can guarantee that the following analysis will be more than helpful for all interested investors.
Investors who are willing to discuss this story can visit the VIT Bull Board at Stockhouse.som where the author normally posts his information under the name of Bemabeamer.
End op Part 1