hey pangaea
in response to
by
posted on
Aug 11, 2008 07:23AM
The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.
Hey pangea, welcome to the board, i think, haha.
frustrated in our stock price? yeah, me too but i am long term and think one day we will get going on this thing.
- the mill canyon comment was related to our current market cap at 40 million. the point was mill canyon is about 1.6 km from their Cortez hills property. so dismissing your flippant waving at them comment, it has very similar mineralization ( read in detail about it in the past news releases with amazing drill results). Barrick felt so encouraged by the 10 mil+ find there that they paid $$$$1.7 billion to own the remaining 40% of the site. the market does not give us any future value to mill canyon, a possible big mistake. even if newmont backs in one day we still have 49% of it. They are so close there could be strong symbiotic relationship working both sites some year.
- the point about drilling slower was regarding the fact that since they are not drilling at a fast pace, assay results are not coming in every few weeks. they are forced to release each drill hole on its own while others release 3,5, 15+ at a time. people focus on the good holes and not the missed holes in that grouping. with us and one hole at a time there are those that take a missed hole as the end of the world. what we have found already at cove in less then 10 holes would take the big guys 40+ and a lot more money. Raul and team deserve far more credit for finding a needle in the haystack AND doing it in far less holes then anyone else could. ( a point brought up at the agm by Hugh agro and one in which Raul was especially proud to hear) Instead they get extreme criticism expressed in the stock price and other places.
- as for share dilution, I am very encouraged that they only took what they felt they needed at the last PP. this shows strong optimism for the future instead of issuing all they can at one time which most all other juniors would do. find me a junior in the last year that was almost 40 million over subscribed and did not issue them all.
- comments about us buying one of 200 companies? they have never said "buy" as the only route and they have already said they whittled down the 200 to 20 serious considerations. yes I guess we could go "buy" a property/company but we could also supply the talent to extract the gold that a certain company has but cannot do for themselves. our part of the team can be talent or some other avenue not just money. Plus if we see something that is unbelievably priced below its potential why not acquire it even with dilution and that was my point. the board of directors is HIGHLY qualified to filter out who is who and what is what, then if passing the test then brought to Raul and team to further filter. I am more then happy to dilute 10% or whatever the number is to make a 200% or 500% increase in gold potential. With the junior sector hurting from the ongoing annihilation, there will be some prime specimens at amazing prices. there are other ways then dilution as in kinross backing, the connections of all the board of directors for funding also.
- insider trading link? try the link library on our victoria page here.
- selling of stock by people working for victoria, like most juniors, the majority of the reimbursement is paid in stock options. a 4 year degree in geology is making from 60-100k right now as geologists are in such demand, imagine what someone of Raul madrids caliber would be paid in outright $$ instead of stock. he has 8+ years working the USGS along with Ralph Roberts and been a big part in some of the biggest discoveries in Nevada. he has custom chosen all the sites and accumulated them into victoria's portfolio before there was a large land grab and prices much higher. he could write his ticket anywhere for any mining company probably. I am not sure but I don't think we are paying him $500k a year or a million, so if he has to raise capital to spend