GREY:VITFF - Post by User
Comment by
MVargason Mar 04, 2020 1:30pm
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Post# 30766212
RE:Looking good goin forward
RE:Looking good goin forward fasttrack5 wrote: Eagle Ramp-up: Grade Reconciliation
Mining Eagle is proceeding as planned
• We are finding ore where we expect it and at grades we expect
Eagle is a well behaved deposit
• The only surprise is gold bleeding out from the granodiorite host to surrounding
metasediments adding more ore tonnes
The reserve block model is in excellent agreement with the production data
• To-date the grade mined is 0.79 g/t Au which +3% of expected grades
• To-date the mined are +10% of expected tonnage
This from March presentation
And yet with Gold at C$2,200, we are trading at a pre-consolidation price of under 50 cents and a MC of C$427 million!
The AISC is forecast to be under US$800, but even if at $900, or C$1200, Victoria would cash flow $1,000/oz. At a forecast production of 210,000 oz/yr that is $210 million/yr in cash flow. Even if they only produce 150,000 oz/yr that is $150 Million per year.
In retrospect it is probably a good thing that Orion owns almost 50% of the company, otherwise we would get taken out here at maybe $10/share.