Victoria Gold Corp VITFF

Analysts

[Greatdaysahead]

Alerts on my screen:
Cormarck: cuts to 17.5 cad vs 19
ISS Eva : upgrade to overweight
HC Wainwright : raises to 24 cad from 20

[kegman]

And it looks like word is getting out that the mine workers are getting back.  I hope Mayo fares well.  After seeing maui....I have been there and it was beautiful.....I wouldn't wish that on anyone.  I have broken every rule on weight in ones portfolio now.  I will stay nice until Oct 1st waiting for the raven results too.  I heard what he said.  By end of Sept.&

[OCB1234]

We were suppose to get a revised resource estimate @ Raven in Q1 so what is it we are getting in Sept? Initial results from this year's drilling or the much delayed resource estimate?

[kegman]

You will have to watch when they post it.  It is at the very end.  Two chat questions from a very smart attendee I am told.  

[Greatdaysahead]

I have the transcript but can't post it. They looked at everything from last year, a few more hole to drill this year and he said then "I would expect we'll have all the results published sometime before the end of September"   Not sure this answer your question...

[OCB1234]

Drill results vs new resource estimate is the question. 

[kegman]

Agreed.  The question is why have they held the results back from last year.  Once they are out he will have to move forward on the resource estimate.  I truly believe we have had a great buying opportunity this week.  Another conspiracy theory....is he holding back to not take the spotlight away from BYN (If you can call it a spotlight)  IF Raven is double the grade of

[Powermano7]

Well one answer may be Victoria is in negotiations with someone to sell the resource, M&A  development of the resource. Financing additional capital development may be out of Victorias ability without a partner. The real question is who will it be? In any case Raven will add a lot of value to Victorias shares when the news breaks... DF

[MVargas]

IMO all significant Raven results from last year were released.  One can only conclude that they were insufficient to warrant a Q1 resource update as previously promised and thus they felt they needed additional drilling in 2023 before updating the resource estimate. I suspect it will be late Q4 or Q1 of 2024 before there is a resource update.

[Human7]

I agree with that general take on the resource update. Plus the revenue from ongoing ounces sold can only be spread so thin. So many competing needs, including debt repayment. It was a smaller drilling program this year as i recall, when there is still so much property to drill.

[kegman]

Which is why we need to divest of BYN or at least, no more financing.  

[Human7]

lol, you're relentless.

[Human7]

But I agree, now is not the time for more BYN investment :)

[Greatdaysahead]

How much Victoria paid for their byn holding?

[kegman]

LIke the Herman Hermits tune....2nd verse same as the first.  If we could have divested some in the 40's.....that would have been good.  When you hold 12% it is tough to get out without collapsing the SP.  Maybe Sprott would like some?  

[Human7]

Ha ha kegman, as a fellow Ontarian, I sooner think of Goddo when you say 2nd verse same as the first.

[kegman]

Not a Hogtown man.  Grew up in southern most point and have moved to the Eastern Ont area for 22 years.  Nearing retirement so I think out timelines are not far off.   

[Human7]

Don't have exact numbers, it occurred over time but a lot of it at 0.04 share price and then a fire sale when Alexco went under. So a great investment on paper, but still some cash required, don't know exactly how much.  To me, they are not wanting to let what is probably 8 mill oz get scooped under their noses, but always have to weigh that against existing mine needs, including