Many of us have been waiting for VIT to publish their cash position. According to the Wellington report that was just published on Jan 9th, VIT has 7.9 million Canadian (US 6.7 million) in working capital.

I expect VIT will also generate an additional 3.5 million + in Canadian dollars from the warrants that were recently issued as part of the recent private placement. For this to happen, VIT's stock will have to trade at or above .35 Canadian for (I believe 20 consecutive days after the initial 4 month holding period) - at that point VIT can force warrant holders to exercise their warrants within thirty day notice to the warrant holders. If this proves to be correct, then VIT will have approximately 11.5 million Canadian to finance their operations over the next 12 to 18 months without having to come to the market to raise any additional cash. Also what is important to note is the fact that this working capital is worth a great deal more than it was a year ago because the cost of drilling and other related expenses are much cheaper than they were then.

Bottom line: this company is going to be in an enviable position for a junior gold stock - good properties with the necessary cash to move those properties closer to production.