Re: march 2009 presentation
in response to
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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: Re: march 2009 presentation
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Some of the comments below were previously mentioned by James:
The link below will provide you with a complete update as to VIT's corporate drilling and production plans. Page 18 and 19 are key parts of the presentation that outlines in a clear format a preliminary timeline for VIT's core properties. One should note that VIT is expected to be in production at their Cove property sometime in the 2nd half of next year. Also in line for production next year are two of their other properties: Relief Canyon and Tassawini. Big Springs and Dublin Gulch to be in production in 2011.
It is also important to note that VIT has a very active drilling program for 2009 encompassing all of their core properties except Mill Canyon where surface drilling will commence in 2010. We should have no shortage of news announcements for months to come with all the activity in drilling, engineering studies, permits, etc. News flow is the life blood of keeping investors interested in junior gold stocks.
One final note in terms of stock valuation: VIT's stock at $C38 is only valuing its present pro forma Enterprise Value (EV) @ $US12.8/oz. VIT's objective is to convert this EV to $US100/oz. On page 22 of the presentation you will find VIT's Peer Analysis that shows that VIT EV is well below the majority of its peer group. Allied Nevada has the top EV at $US100. It appears to me that if VIT is successful in achieving its target EV @ $US100, VIT's stock could be selling $C2.96 ([100 EV/.12.8 VIT EV =7.81] X $C.38) current price. The more reserves that VIT uncovers, the higher the EV and the higher the target price for VIT's stock.
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