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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

Post by iwasgoldon Nov 23, 2023 8:44pm
269 Views
Post# 35750885

sp

spWatching this thing unfold over the past few years has shown it to be a poster child for the way dodgy mines and companies screw investors.  It is clear that the grade they have is nowhere near what they expected, or rather hoped for. They have strung the investors along with sweet talk about higher production, lower costs, paying dividends, temporary operating issues, etc etc.  All this smoke was blown at us to hide the fact that they really don't have much of a mine, ie no high grade reserves, and the lack of investor interest south of the border proves it. Ninety percent of shares are traded by US shareholders. I expect they have enough profit and nouse that they have been dumpiing this name in favour of better. Our only hope is that this will stop at year-end, and that gold will continue to rise. The Brewery Creek deal is imho a bad deal ultimately. I don't expect there is enough ore there at a high enough grade to make a mine.Whatever VGCX says can't be trusted, based on previous experience. The effect of the tax offset means better cash flow, but the  reported profit will be reduced by the loss carried forward. Unless VGCX pays us a dividend, which is extremely unlikely, the lower profit will give us a lower share price, end of story.. Possibly they might reduce the debt more than otherwise, but it won't be enough to make any difference to investors. Let's not forget that the tax offset was paid for with today's dollars, mostly, so if there is no mine then what has been achieved? Nothing. VGCX will spend millions on the site and then quietly shelve it.  Meanwhile what about Banyan?  They love to proclaim the six million ounce resource, but how economical is it going to be to mine it?      If I made one mistake here, and it's a stupid rookie mistake, it is that I put too much money on this name and not enough on others.  Sad...GLTA WAGTNI (we are going to need it)
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