Victoria Gold Corp VITFF

RE:RE:RE:RE:RE:+6% on great cash flow news = short squeeze

[HoneyBadger77]

Despite being thoroughly ticked yesterday when the Q1 earnings were released.  After looking over the Q1 release much closer later last night, I've since settled down.  The interest costs and derivative losses amplified the Q1 loss and with production being lower than expected it certainly was an ugly quarter.

Based on the share price pop this morning and share volumes, the market seems to be letting this one slide along with a combination of short covering but VGCX management best get the act together in Q2 or Q3 because investor patience is running thin.  And from the tension level at the Annual Meeting, I think VGCX management got the message loud and clear.

I expect (barring some unforseen catastrophic event) that Q1 will be the worst quarter this year and expect Q2 and Q3 results to be strong.  Despite management's response to my question on the Q1 call this morning about if and how closely they follow the Technical Report Mining Plan, I'm not yet convinced that they are paying enough attention to it.  The actual tons being mined and stacked are not close enough to what is in the plan and that still concerns me so remains something I will be watching closely over the coming quarters.

GMT Capital acquired another 333,800 VGCX shares in April taking their current holdings to 10.49% and so perhaps they see that the worst for VGCX is behind it.   Their latest filing states that they have purchased the VGCX shares for investment purposes only and not to exercise control over the company, etc.  So I'm not sure why the would add to their already significant holdings unless they see better days ahead.

Today's share price pop and volume is a pleasant surprise, now let's see if VGCX can hold and resume its upward share price momentum going forward.  

GLTA

HB77