Victoria Gold Corp VITFF

RE:RE:RE:RE:RE:Patience Wearing Thin

[MVargas]

phoenix_trader wrote: Negatives Nickel never gives up. Until commercial production, all revenues and expenses are netted against capex. VGCX has been moving up with gold and the pending commercial production decision. Nickel will not touch my comparison with Norgold's Gross mine because he knows how very profitable Gross which is identical to Eagle is. And to him the presentation is all lies.


Eagle Ramp-up: Grade and Recovery Reconciliation
Grade: • We are finding ore where we expect it and at grades we expect • 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 Recovery: There has been good correlation with the model, but it is early days

Negative Nickel wasn't always negative.  On the contrary he was one of the board's biggest boosters until his idol chilledjames turned negative because of the mine financing.  This is from an earlier post - all still valid points except now the POG is much higher and fuel costs and the Canadian dollar are much lower.  VGCX should be a no-brainer now.

1. A lot of retail investors stay away from development projects as there are always problems with reaching commercial production, fine tuning the process to reach target recoveries and get to steady state operation. VIT Eagle project is a basic, extremely simple process (drill, blast, haul, crush, stack and leach). With the amount of metallurgical testing done over the years I expect the gold recoveries will exceed the model and there will be no challenges to start stacking ore on the pad. 2. There is a lot to say from the exploration point of view. VIT is not only a one project company, they have a large, very promising land package that has a lot to offer yet. Once they start generating cash flow they will be in Yukon for a long time. 3. The best option for shareholders is to build the mine and start producing. A buyout offer would take all the upside potential away from the current shareholders. It has to be rich to get accepted... 4. Gold price is going nowhere but up from here, which makes the project very, very attractive. Even at current gold price, Eagle economics are great. 5. Compare VIT chart against any of the majors on a 3-5 years chart. You will see where is the best place to put your bets on. Good luck!