Victoria Gold Corp VITFF

Q2 Financials

[OCB1234]

“Record second quarter gold production in 2023 is testament to the success of operational improvement initiatives implemented over the past few quarters. While earnings and cash flows are higher quarter over quarter and year over year, we are focused on further improvements. Several cost savings initiatives are underway which have the potential to grow earnings and cash flows going forward,” noted Mr. John McConnell, President and CEO.

I wonder what those cost savings initiatives are exactly? 

[kegman]

Aisc seems high.  Seems like there are always reasons net revenue  is not better.  I really think we need a new voice.  Gold is there.  Have to maximize profitability.   Getting better but we must attract more attention for future even better results.  John making more promises won't cut it.  Jmho.  

[Greatdaysahead]

Regarding the costs, John mentionned in one of the interviews a few weeks ago (maybe months),that the 1st cost center was the wages/salaries. Then that 30% of the charges were related to fuel directly or indirectly. They used 1.65 per liter in their budget, was 1.20 one year ago, currently 1.50-1.70 I would say. So this could be one of the reason. the cost of the debt increased as well as

[givemeabreak1]

Greatday Not sure you get it big John has been pulling down big dollars for many years and accomplished nothing for shareholders.  Yes has done well for traders or those who entered at the right time but that is the definition of bad management.  As far as gold forward sale give your head a shake and understand how they work.  When you sell or buy contract the action is not free but

[Greatdaysahead]

just looking at the debts section (in million usd): Revolving : 119.9 usd vs 109.9 usd  in 1Q Equipment ff : 34.3 vs 36.2 Term debt f :  41.7 vs 50M  Not sure why, but Revolving terms is now SOFR + 3% versus SOFR +2.75% the pas quarter.