Victoria represents one of the top 5 junior gold stocks that I have been recommending, and it is by far the largest holding that I have taken a position in.

Drilling that started near Oct 2nd, 2007 was completed and results publicized on December 11th, 2007. On Feb 20th, VIT collared a third rig, and announced that it was continuing to drill 6A which was already at a depth of approximately 400 feet. Given the past history of drilling last year, we should have the drilling results for 6A and #8 no later than the end of April. We will no doubt have the final assay reports on the last few hundred feet on hole #7 reported at the same time, or sooner. Recent weakness in VIT, IMO, has been attributable to: (1) private placement shareholders taking profits on stock they acquired at .65 cents in November 2007 (shares which were restricted from sale for four months), (2) the fact that recent drilling results were not as robust as earlier reported in December (which was probably due to the fact that the target zone was missed by over 200 feet – a 9 degree shift), and (3) its stock price has also been a victim of widespread underperformance of the entire junior gold exploration companies relative to the Senior gold producing companies (IMO we will soon see a significant improvement in the performance of junior exploration companies relative to the Senior gold producers). It appears to me that the selling has dried up and the stock put in a bottom in the low 80’s the other day.  Even at today’s price of .92, this stock is down 42% from its 1.60 high that it traded at on Dec 11th – the day positive drilling results were reported. There is no question in my mind that this stock will be a significantly higher in the coming months do to three factors: diminished selling by private placement shareholders (why would they sell now after the stock has already given up 42% from its 1.60 high and the expectation that new drilling news will be announced soon), expectation that the companies 8th hole will be more successful in hitting its target Helen zone and reporting drilling results that are consistent with the robust results reported in Dec 2007 (company will account for the degree shift which should improve the probability of hitting the Helen target zone), and (3) an expectation that Junior gold companies will finally show improving investment performance relative to the Senior gold producers. Please refer to the charts that I have previously shared with you on the ratio of junior gold stock performance relative to senior gold producers. Personally, I am continuing to add to my holding at today’s low price at .92.