With each new hole drilled at Cove McCoy, Victoria continues to increase the size of the Helen Zone with mineralization open in all directions. The company currently has three rigs operating at Cove McCoy with hole #8, #9, and #10 currently being drilled. Based on past drilling experience, we should expect drilling results from hole #8 and #9 somewhere around the 15th of May, and results from hole #10 in the 3rd or 4th week of June. According to VIT, drilling at Cove McCoy is in its infancy. Outside of the Helen Zone, the company has identified 7 or 8 other targets for drilling at Cove McCoy. As long as the drilling results continue to show good mineralization, I would expect this company to have a continued flow of drilling news every 2 ½ to 3 months up through the winter season starting sometime in November or December.  One should also note that the company is now operating three rigs instead of the two rigs that have been available to them in the past – thus more drilling and more frequent drilling results. These facts are important, because many investors in junior exploration companies are very impatient and if there is no news, or the news in infrequent, the speculators lose interest and the stock sells off until the next news announcement.  

With each successful hole drilled with good mineralization, the risk reward in VIT becomes more favorable. At its current rate of success, it won’t be too long before investors will be speculating as to how many reserves VIT may have uncovered.

As reserves are increased, VIT then become a potential buy out candidate from a senior gold produces who is looking to add to their depleting reserves.

IMO, the future prospect for higher prices in VIT’s stock has never been brighter since I have been investing in this company since June 2004.  I would use any dips below $1.00 as an opportunity to build a sizable position in a company that has some tremendous upside potential.