some one ponders take out at such a low price
posted on
Aug 08, 2008 01:35PM
The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.
some one at stockhouse ponders and worries about a take out at such a low price killing his ability to go up and beyond his $1 CA buyin.
this was my response from talking to Hugh agro, on our victoria board and second in power at kinross, could not ask for a better contact.
Hey Vitme,
it is never stupid to think about anything as a possibility.
there is a cliché that goes the only people that lose money in the market are those that know to much and those that know too little.
and of course there are no guarantees on this or anything per se.
if you have read my posts from way back you would know that my belief is that long term on victoria it is a serious play of major potential. short term is much more of a gamble because of the exact thing we are experiencing right now. we are right along with many other juniors and majors i might add. look at kinross at above 24 last month and down in the 15's now.
my only concern all along was the take out of kinross at some level below $10 would kill on our potential.
so with that said and no guarantees, i asked Hugh agro directly at the AGM about this exact subject, " my only concern after knowing so much about the land, geos and board is that you guys come in and gobble up little victoria killing what i think could be huge one day" his response was to the effect that kinross was very happy to participate in victoria, that this thing is very unique ( which i know in a big way), that chad has not come from his Blackmont position to be in a company that just gets taken over in a year or two and he wrapped into a huge company. i think they realize the "interesting" nature of the skills of Raul, the land package and the leadership and would like to come along for the ride. further down the line if we prove out 10 million or something who knows, the bidding with the Newmont connection, Barrick as a neighbor at mill canyon and kinross high knowledge of what we could have would all ensure we don't just get sold out cheap.
so to answer your questions could it happen soon? yeah i guess, but i HIGHLY HIGHLY doubt it.