Victoria Gold Corp VITFF

Orion Warrants and Gold Call options

[MVargas]

It appears that Orion did exercise the 1,666,667 warrants priced at $9.375 on April 13.

Orion was also the beneficiary of the 20,000 oz in call options priced at US$1485 due on the same date.  Payment due to them would have been approximately C$16 million - more than enough to exercise the warrants.

It is likely that the shares from the warrant exercise were sold in the days after April 13 - a factor in the price decline from that date.  

It's was a good thing that the share price was higher than the warrant price on April 13 because the payment received from Orion for the warrant exercise was almost enough to cover the call options payment.

The o/s shares increased by about 2 million since March 31 which included exercise of management options @$8.05.  The CFO sold the same number of shares as options exercised @ $10.18 and pocketed the difference.  The Options Plan is the gift that keeps on giving.

[kegman]

I have found in the past that these smaller players who survey, find and develop a mine literally make a fortune playing the game while the stock price heaves riding waves and crescendos and then flounders.  My angst with myself is that I allowed myself to think that this one would be different.  That these folks wanted to sell (Hmmm, I wonder where I got that from?) and I could get out

[OCB1234]

Not really lowering the bar, Kegger. The vastly increased stacking I expect should tee up a Q1 2024 NR confirming 180k+ oz produced this year. I also want to see a Q1 NR with an amended Raven Tech Report incorporating both 2022 & 2023 drilling showing 2M inferred ozs. Lastly, I want to see an early Q2 financial on Eagle showing an AISC # south of $1,350. 

[Greatdaysahead]

In the below video min 7.00, JM confirms that April was a very good month with stacking and production 15% higher than forecasted in their budget... "a banner month" for victoria... https://youtu.be/9NqjMHNdy4I

[kegman]

Thank you for the link.  Considering all the bad luck.....monthly reports on good news could help build momentum.  Might get us to take our minds off of Raven report delay.  

[MVargas]

Thanks for the link, gda. A couple of other items of note from the presentation: Raven resource update - "probably sometime in the 4th quarter of this year". JM's share ownership increased by 70,000 shares.  These were from options exercised at $8.05/share, but unlike most of the Board and other management, JM did not sell any shares in the market to pay for the shares. 

[OCB1234]

Anyone know if Dave is still running the day to day ops @ Eagle or is it the new guy they recently hired away from Coeur?