Re: Helen will be VIT's first operating mine
in response to
by
posted on
Feb 19, 2009 03:38PM
The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.
Dublin Gulch is going to be the 4th to go into production? and not for at least 4 years?
sorry to disagree but i don't see it play out that way. Dublin will not be that far back. as i have stated ( and pure speculation ) Dublin will run in front or neck and neck with anything else we get going.
why would they make this money fund raiser via shares contingent upon the strata deal closing. Then return all money plus interest and take the shares back. Helen would seem to have nothing to do with the strata deal closing.
as for Helen, Newmont does not HAVE to back in until a positive feasibility is supplied which we are a ways off from getting and not just a few months either.......if for some reason Newmont was backing in, then they owe us 2.5 times what we have spent already ( $8.5 million up to Oct. 2008). if they back in that is $21+ million why would we need a measly 7.5mil?
and i doubt this scenario- Newmont backs out of the deal before any positive feasibility and just lets us pay the 1.5 million to own it outright??? so we need money to develop on our own. i doubt they would just voluntarily let us walk with it at least this early.
those are my thoughts......who knows. i am all for whatever moves the company along at the fastest, safest most powerful productive pace to grow victoria and our share price. i trust them with the moves they make.