Victoria Gold Corp VITFF

Metals & Mining Gold

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.

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Victoria Gold Corp > So Yeah This is Serious

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Comment by MVargason Jul 09, 2022 3:37pm

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Post# 34813087

RE:RE:So Yeah This is Serious

Pete1986 wrote: First of all, we are talking about a deposit and not about costs. Sure, there are gonna be some costs assosiated with the deposit, however, this is not a big deal.

That is correct. The company will be required to increase the value of its reclamation bond by around $74 million.

The typical cost for reclamation bonds is between 1% and 2.5% of the bond value annually. So a premium of say 2% will cost $1.5 million per year. That will in effect add $7.5/oz to the AISC, based on annual production of 200,000 oz. Hardly a game changer!

https://fcainsurance.com/surety/bonds/reclamation-bonds/

However declining to participate in the review is not a good look for the company and they may have been able to negotiate a lower increase.

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