Victoria Gold Corp VITFF

RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: McConnell

[valueking]

Ugh, 500 million shares out would be such a drag, but not the end of theworld. Look at Romarco, who's been lugging around 520 million shares(fully diluted) for quite some time while maintaining a stock priceranging from $1.40 - $2.50+. Some interesting similarities (and starkdifferences) between the two companies. First of all, both companieshave flagship properties in 'mine friendly' jurisdictions, more or less,at the same stage (Romarco's Haile Gold Mine has completed their BFSwhile VIT's Eagle Gold Mine BFS is still a few months away). Haile'scurrent reserves are sitting at 2 mil, while the Eagle reserve is at1.75 mil, which could very well be increased to the 2.5 mil range whenthe BFS comes out. Also, while Haile's ore grade is greater, the Eagleresource is currently 60% greater (and when the next resource est comesout, early next year, it will probably be 150% greater). The estproduction and capital costs to complete both mines are verysimilar. Romarco does have $63 mil in cash, BUT the 520 mil shares theyhave out DOES NOT include the cost of building their mine. On the otherhand, assuming an additional 200 mil shares for VIT will be part of theequation, the sole purpose of such dilution as we know would be to buildthe Eagle Gold Mine.

Finally, VIT's suite of other properties dwarf that of Romarco.



Great post, thanks. I think 500m shares ballpark for VIT is probably a reality.