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Company Spotlight
Hy Lake Gold Inc (CNSX: HYL)
Hy Lake Gold Inc (CNSX: HYL, Frankfurt: HYK) is a junior gold exploration company with several + Read More
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The Ubika Research Junior Resource stock watchlist
Victoria Gold Corp.(Symbol: V.VIT) |
| Company Name: |
Victoria Gold Corp. |
| HQ Location: |
Toronto, Canada |
| Company Website: |
http://www.vitgoldcorp.com/ |
| Shares Outstanding |
223 Million |
| Closing Price (June 28, 2010) |
$0.65 |
| Market Cap: |
$145 Million |
| Average Daily Volume |
450,000 |
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Share Highlight / 1-Year Stock Chart
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Business Overview
Victoria Gold Corporation is a Canada-based exploration and development company that has
over 14 mining properties located in the State of Nevada in the US and the Yukon Territory in
Canada. The company’s shares are listed on the TSX Venture Exchange under the symbol ‘VIT’. The two major advanced stage projects are Eagle Gold (Yukon) and Big Springs (Nevada).
+ More info
What is interesting about Victoria Gold Corp.(V.VIT)?
- 6 Million Ounces of NI 43-1010 compliant gold resource.
- In safe jurisdiction of Nevada (US) and Yukon (Canada).
- Very experienced board and technical team.
- Advanced stage gold projects. The Yukon-Eagle Gold Project has a Mineral Reserve of 66.141M tonnes at 0.823 g/t for 1.751M oz at a $900 gold price from the pre-feasibility study. Production expected to commence in 2013.
- Helen Zone Cove project is the most advanced of Victoria’s gold projects and is located 610 m (2,000 ft) northwest of the previously mined Cove open pit which produced 2.3 million ounces of gold. Newmont Mining has a back in right to this property to be the majority owner.
- Santa Fe project in Nevada, while an early stage project is showing lot of promise with strong drill results.
- The company can start bulk mining production in late 2011 with full commercial production in 2014.
- Kinross Gold owns a 21% interest in the company.
- Company has partnership with major miners like Newmont and Kinross.
- Strong institutional shareholding with 20 institutions owning shares.
- Company is trading at a discount to its peers and the potential of Santa Fe project is not fully appreciated by the market yet despite good drill results.
- Recently in March, Kinross Gold Corp. (TSX:K;NYSE:KGC) acquired Underworld Resources Ltd. (TSX.V:UW) a Yukon gold play. This puts the Yukon Territory in focus as the government has mining friendly policies and Yukon is still relatively untapped.
- The company has around $20 million of cash in balance sheet and can comfortably fund its current exploration program of approximately $10 Million.
Risks
Victoria Gold is still an exploration stage company. The commercialization risks associated with gold mineral exploration and development are high and its prospects for discovering and mining economically viable gold resources are uncertain. Gold prices can fluctuate and a decline in the gold prices could impact the share price of the company adversely. Exploration companies typically needs significant amount of capital and although currently well financed, Victoria Gold may still require additional financing. This could result in shareholders’ dilution.
Victoria Gold Corp. News
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