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Victoria Gold Corp VITFF

Victoria Gold Corp. is a gold mining company. The Company’s flagship asset is its 100% owned Dublin Gulch property, which hosts the Eagle, Olive and Raven gold deposits along with numerous targets along the Potato Hills Trend including Nugget, Lynx and Rex Peso. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers (km) north of the capital city of Whitehorse. The property covers an area of approximately 555 square kilometers and is the site of the Company's Eagle and Olive Gold Deposits. It also holds a suite of other development and exploration properties in the Yukon, including Brewery Creek, Clear Creek, Gold Dome and Grew Creek. The Eagle West target area lies as close as 500 meters northwest of the main Eagle Gold Deposit and hosts the exposures of the granodiorite. The Raven target is located at the contact zone at the extreme southeastern portion of the Nugget Stock. The Brewery Creek Project is a past producing heap leach gold mining operation.


GREY:VITFF - Post by User

Comment by Research67on Jan 15, 2022 10:50am
199 Views
Post# 34320147

RE:RE:An opportunity to get the answers you want

RE:RE:An opportunity to get the answers you want
MVargas wrote: Just for fun, this is what one might expect as answers:

Research67 wrote:

1)I'm wondering about Victoria's mechanical limitations, prior to project 250's completion; Does Victoria currently have the mechanical capacity to produce and stack 1 mil tonnes per month for a yearly total of 12 mil tonnes? If not, what is the mechanical capacity currently?

We have the capacity to exceed 1 mil tonnes per month.

I was hoping for a more detailed explanation than that. The question comes from several posters here interpreting the FS statement “Ore will be crushed at a nominal rate of 30,100 tpd” as the capacity of the primary crusher. This does not appear to be true. Victoria uses a Metso Superior MK-II 50-65 primary crusher (see page 33 of the current corporate presentation). This crusher has an operating capacity of 6,375 Mtph or 153,000 Mtpd. Obviously it would never run at this capacity, however, it made me wonder; There are lots of components between the pit and the pad; Theoretically, what is the weakest (slowest) link in the mechanical systems, (in tonnes per hour or day)?

Superior™ MKIII 50-65 primary gyratory crusher - Metso Outotec (mogroup.com)

2)What is estimated CAPEX for project 250 and will it be funded out of the current available credit?

Capex is minimal and will be funded out of cash flow.

With Victoria’s debt being amended recently, along with the revolving facility’s maturity date being extended by one year, I wondered if they are expecting to add significant debt. I would still like to know the CAPEX for the project, regardless if it is insignificant. The planned 60k of drilling in 2022 will likely have an impact on the financial situation as well.
 

3) How much of a production delay is expected during the construction of Project 250?

No production delay.  If necessary, we can stockpile crushed ore from the primary crusher and process it once modifications are complete.  

With Victoria’s history of explaining production delays after the fact, I thought it might be refreshing to be notified prior to a possible delay, or production deficiency. A timeline of projected down time would be nice to have in advance, regardless if Victoria thinks they can make up for it.
 

4) What is Victoria's strategy in delaying drill results for Eagle and Raven?

We are not intentionally delaying drill results.  We have not received all of the assays from the labs and we will release them all at once when they are received.

This is obviously a sore spot for many investors. I’m pretty sure he is not going to give us a satisfactory answer, but, if you don’t ask, you have no chance at an answer.
 

5) Has the pressure to be acquired diminished, or is there still aggressive interest? 

Can't really comment.  We have signed NDA's with a number of companies but don't know or can't say what their intentions are.


John has answered this question in the past, suggesting an acquisition was imminent. Once again, if you don’t ask, you have no chance at an answer.


 


Re item 1.:
1 mil tonnes per month won't quite cut it.  12,000 tonnes x 0.8g/t x 0.75 (recovery) / 31.1 g/t = 231K oz/yr.  0.8 g/t is already much higher than the FS reserve grade and as per the FS, grades are expected to decline.


It would be enough as my question was “prior to project 250’s completion”, The fines are expected to add 2M tonnes to the pad annually (see page 12 of the latest corporate presentation).
Using your math…
2,000,000 X 0.8gpt X 0.75 (recovery) / 31.1 g/oz = 38,585 oz’s
231k + 38.5K = 269.5k oz
Having said that, I don’t expect this kind of production anytime soon. Truthfully, question 1 was more about how much the system could be pushed to make up for unexpected production/mechanical delays. I have a mechanical background and find the entire production chain interesting, more out of curiosity than an investment level.





At the end of the day, asking questions and posting here and on CEO will likely have no affect on the SP, but may spark a converation that changes ones opinion on holding an equity, positively  or negitively. For the most part, I enjoy these conversations and look for the positive gains in knowledge. You just never know who is going to say something that changes the way you look at things. Lots of times it comes from a place you never expected. #grow

All the Best, enjoy your weekends
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