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 > Convertible Debt Presentation - German Gold Show

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Comment by HoneyBadger77on Dec 29, 2023 3:28pm

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Post# 35804427

RE:RE:RE:RE:RE:RE:RE:RE:Convertible Debt Presentation - German Gold Show

It looks like the 76% recovery rate you're using for Q4 MVargas is a LOM Recovery Rate. I suspect you arrived at 76% based on this excerpt from the 2023 Technical Report Victoria Gold Corp. | Victoria Gold: Eagle Gold Mine Updated Technical Report (vgcx.com):

"Gold Recovery Reconciliation:

Project to date, gold recovery has trended in line with modelled estimates utilized in the 2019 Eagle Technical Report and no substantive changes have been made to the LOM recovery expectations for Eagle. A notable improvement from the 2019 Eagle Technical Report has been increasing the crush size from a target P80 of 6.5 mm to 12-14 mm with no appreciable reduction in gold recovery. This improvement has been realized through an improved understanding of the particle size distribution of crushed ore. In addition, the total leach time is longer than initially estimated and operational results indicate that the ultimate gold recovery will likely be modestly higher than the recovery projected in the 2023 Eagle Technical Report. LOM ultimate recovery is projected to be 76.2%."

The above excerpt appears to have contradicting statements in that the first sentence that states:

"Project to date, gold recovery has trended in line with modelled estimates utilized in the 2019 Eagle Technical Report and no substantive changes have been made to the LOM recovery expectations for Eagle."

....But then it states:

"In addition, the total leach time is longer than initially estimated and operational results indicate that the ultimate gold recovery will likely be modestly higher than the recovery projected in the 2023 Eagle Technical Report. LOM ultimate recovery is projected to be 76.2%."

How can they state that "no substantive changes have been made for the LOM recovery expectatyions for eagle" and then state "the ultimate gold recovery will likely be modestly higher than the recovery projected in the 2023 Eagle Technical Report." And then state "LOM ultimate recovery is projected to be 76.2%."

What was the LOM recovery rate before the 2023 Technical Report was updated? And how are they achieving Recovery Rates of 89%, 93%, and 96% from 2020 to 2022 respectively? Now I will admit that I don't fully understand how a LOM Recovery Rate can be so much lower than the Recovery Rates since 2020 (as stated in the Nov Investor Presentation)? The LOM rate must be an average over the estimated 12 year mine life but even so, if the 2022 Plant Recovery Rate was 96% shouldn't the 2023 Q4 Recovery Rate still be somewhere near 96%?

HB77