Update: Victoria Gold Reports Excellent Exploration Results At Its Olive Target
- Victoria Gold reported the results of its summer exploration program at the Olive target adjacent to its Eagle Project.
- The results indicate that another high grade deposit can be developed here.
- I had not anticipated this in my recent bullish article on Victoria Gold.
- Victoria's Eagle Project is not economical at the current gold price but shares trade near cash making this a compelling gold leverage play.
- Victoria Gold reported a slight profit in the quarter ended August 31st due to an increase in the value of its marketable securities.
- The company has been using its strong cash position to develop its Eagle Project.
- This is in line with my expectations.
- Investors shouldn't expect the project to be built at current gold prices so I wouldn't be surprised to see shares trade at/below cash during capitulation.
- Victoria Gold has plummeted to bargain basement prices due to lack of interest in junior gold miners and mining companies in the Yukon..
- While finding $400 million will be no easy task the market has discounted this and then some. .
- There is a reemergence of interest in junior gold miners and in Yukon Properties that hasn't spilled over into Victoria Gold. .
- Given strong institutional backing and an economical project I think Victoria Gold can find financing for its Eagle Project, which could send shares soaring.
- The shares also offer tremendous leverage to the gold price, making this an excellent stock for gold bulls.
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Victoria Gold Corp. is a leading gold exploration and development company advancing the Eagle Gold Deposit to production. The Eagle Gold deposit hosts a National Instrument 43-101 compliant Resource of 4.8 million ounces of gold. Additionally, Victoria continues to explore key projects in the... More
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