GREY:VITFF - Post by User
Post by
bajanjohnon Jul 22, 2011 2:05pm
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Post# 18862364
BMO UPDATE
BMO UPDATEVICTORIA GOLD (VIT-TSXV)
JOHN HAYES, P.GEO.
Title: Process Advancing for Eagle Project
Impact: Slightly Positive
Details & Analysis: The Yukon Environmental and Socio-economic Board ("YESAB") has assessed the Project Proposal as adequate for the company’s proposed Eagle Gold Mine at the Dublin Gulch property. The YESAB’s assessment is part of the project’s environmental assessment process. The next step in the permitting process, which has now begun, is the screening of the Project Proposal. A positive recommendation from the YESAB following the screening process will enable review of the major licence applications required prior to construction. Overall, today’s announcement suggests that the permitting process appears to be proceeding on schedule and in line with BMO Research’s estimates, which assumes permitting is completed by the end of Q2/12. Using BMO Research’s metals price forecast, Victoria’s shares are trading at a 32% discount to our 0% NAV estimate of US$1.11/share. Junior and emerging producers in BMO Research’s coverage universe trade, on average, at a 24% discount to 0% NAV estimates.
Here is looking to better times ahead SOON.