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The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.
Message: VIT's Futur Stk Price Hinges on the Following IMO
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First off I would like to make a statement of fact: Victoria's swan dive has little to do with Victoria Gold itself - IMO - at least that is the case at the present time. The credit crisis is the real culprit. For good reason, many investors are shunning any juniors that are in need of capital to bring their projects to a production phase. This issue has even affected the majors that have substantial gold reserves and adequate cash flows. Lets face facts: there are simply too many juniors chasing too few resources with a limited supply of capital. The size of the junior market is simply going to be reduced in size, and only the best companies in that sector that have good drilling results and access to the capital that is required to develop those properties, are going to be able to survive. Having a large portfolio of strategically located properties that are in politically safe environments is just not enough to survive in today's market place. You have to have credibility from past success and continue to show present success in order to attract the capital you will need to bring your projects forward. Juniors that are showing consistent success in building potential high grade quality reserves, IMO, will not find it difficult to find access to investment capital. My conclusion is clear relative to Victoria Gold - the new management team is doing everything it can to be a successful gold drilling exploration company - they have the right people and properties to make this happen. What happens to Victoria's stock, IMO, will be largely attributed to their continued success at Cove McCoy in uncovering high grade gold reserves- lack of continued success at Cove McCoy will put Victoria in the same category that the majority of juniors face today - a depressed stock price and limited access to investment capital required to continue their exploration activities. Let us all hope that Victoria continues to report high grade gold mineralization at Cove McCoy. The next milestone for Victoria will be after they complete their 15th hole at Cove McCoy - presumably no later than the end of October this year. That milestone will be a decision to, or not to, start another drilling phase of approximately 40 holes at Cove McCoy, the purpose of which would be to determine the size of the commercial gold resources at that property.
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