GREY:VITFF - Post by User
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phoenix_traderon Sep 27, 2022 9:36am
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Post# 34988983
Analyst rec - Target $23
Analyst rec - Target $23The Globe and Mail reports in its Tuesday, Sept. 27, edition that H.C. Wainwright analyst Heiko Ihle began coverage on Victoria Gold with a "buy" recommendation on Monday. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ihle set his share target at $23. Analysts on average target the shares at $18.31. Mr. Ihle is excited about the potential of Victoria Gold's Eagle Gold mine in the Yukon as it nears full production. Mr. Ihle says in a note: "Victoria Gold's Eagle mine maintains a strong resource base that is estimated to provide a 13-year mine life based on an average production rate of 200,000-plus ounces (oz) of gold per year. Notably, we view this production rate as the baseline given meaningful property-wide potential at Dublin Gulch, as Victoria has targeted growth expansion projects going forward. Longer-term, Victoria expects to increase production to 250,000 ounces of gold by late 2023, while management has also reiterated its intention to grow the project's mine life by 10 years to 2040. This expansion is expected to come from additional ounces below the currently planned pit, while margins of the Eagle deposit have also indicated the existence of easily accessible ore."