GREY:VITFF - Post by User
Post by
adoraon Jun 22, 2009 2:21pm
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Post# 16089206
Perfect Storm For VIT!
Perfect Storm For VIT!"We have a perfect storm building up for a significant upside move in Victoria Gold IMO - as of today VIT is selling at .33 Canadian - or approximately .28 US.
1. On May 26th Strata Gold shareholders will vote to approve or disapprove its merger with Victoria Gold. IMO, there is a high probability for an affirmative vote to approve the merger. A favorable vote will pave the way for a completion of the merger by the end of this month. Once the merger has been completed, Victoria will then be in a position to maximize the value of the assets acquired by moving them closer to production and embarking upon additional drilling activity designed to add additional gold reserves to their kitty.
2. I expect that Victoria Gold has already completed drilling hole 15 at their Cove property and drilling results should also be available before the end of this month. Any positive drilling results from this hole will no doubt be reflected in a higher price of VIT´s stock price.
3. Gold prices are surging again and I fully expect that gold will soon take out its previous highs of $1.030 per ounce and proceed to its upside target of at least $1650 per ounce by Jan 2011.
Victoria´s stock is presently being valued at approximately $9 per ounce of inferred gold reserves - $31 an ounce is the average valuation being accorded its peer group - therefore VIT should at least triple in value - at that level it would only be selling at an average valuation for its peer group. Keep in mind this doesn´t take into consideration the potential for VIT to add additional reserves. VIT´s objective is to become the top dog in its peer group - and the top dog´s price is being priced at $100 per ounce for its gold reserves. Should VIT be successful in achieving top dog status in its peer group, VIT´s stock could end up north of $3.00 per share."