GREY:VITFF - Post by User
Comment by
MIA17on Nov 02, 2010 3:15pm
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Post# 17646654
Spoke with company
Spoke with companyI agree with poster that the statements made in the sedar interim financial statements sounds lousy....especially the part (lend significant doubt about the company's ability to continue as a going concern). That's a really negative statement, however, as others have stated also, many company's state this in their interims as a general clause.
They just did a bought deal 25 million financing on July 29/10 with: GMP/CORMARK/WELLINGTON/NORTHLAND/PARADIGM/RAYMOND/RBC/SCOTIA. I have been told that they have about $30 million bucks at their disposal. So MONEY CANNOT BE THE ISSUE.
They are waiting for results back from Dublin Gulch. Should take about 2 weeks roughly. Labs are backed up. They will likely have some silver assays to report in that release also, which would be an added treat. Don't forget EAGLE is a proven 4.3 million ounces. and N43-101.
As far as the talking head on BNN commodities this morning (Louis James, sr. editor-metals division for Casey Research) and Yukon plays being overvalued. Well, maybe he is correct on some of them (ATC/KAM etc)as they have stopped drilling for the winter as of now. BUT, and I say BUT, Victoria has NOT STOPPED drilling. They have road access and can continue drilling. They expect to stop drilling near January due to winter conditions for a bit.
They are also going to be releasing results on their Cove (Nevada) property near end of November.
So company has no knowledge as to why the stock has dropped other than to say: they had been marketing the stock, which would explain to some degree the increase in price......but, impatience on the part of the market for results is the likely scenario hence the pullback. That's it for me...did my homework again and will hold to see how this pans out. I just hope the carnage stops here, cause if it doesn't, it will head down to next support of $1.05.....YIKES. I paid below those prices but hate to see my profit erode.
By the way: Louis James is there to pump the CASEY area play on Rainy River - BYV. That is their mandate, not to pump stocks they don't own! I believe BYV has a good shot considering their claims around RR, but don't forget it was pumped then crashed and is now picking up steam again via retail due to the reco from Casey again.