VG to JV with San GoldGood eye Dimentia,
I was out of the office for most of the morning so didn't get a chance to post as soon as I would have liked to.
San Gold's PR this morning is absolutely fantastic for VG.
In short, they have acquired a 31.5% interest in the Davidson-Tisdale projoct from Laurion Mineral and, "intends to actively explore with the view to developing the Davidson-Tisdale deposit following the negotiation of a joint venture agreement with VG Gold Corp."
I have been following San Gold for some time (as seen on my Public Portfolio) and can't say enough about this emerging gold powerhouse. The management is fantastic, they are producing with no need to go to market, have had unbelievable drill success and have a first rate geological team. Couple this with our strong managment and ownership (of course former Goldcorp CEO Rob McEwan is a major shareholder of VG) and the fact that we are sandwiched between producing Goldcorp projects (geez....I wonder if McEwan knows something about this property from his Goldcorp days) and I see nothing but big things for VG.
I wish I had some extra money to jump in right now but I don't want to leave my position in EC Minerals right now so I'll hope for buying opportunities down the road.
All in all, $0.50 represents a fantastic long term entry point.
Here's too everyone that has a position and will be counting substantial piles of money down the road. I know Ubika Research has a $0.82 Speculative Buy rating on this. I would suggest that this deal takes the Speculative part out of the equation to some degree.
Weber's Web has a $1.05 12 month target on this issue.
Cheers for now,
djgt
aka Chris Weber
P.S. Weber's Web.....coming January 2010