According to Chad Williams, President and CEO @ Victoria Gold, our company is presently awaiting the draft report any day for our Eagle property pre-feasibility study. I assume that once a draft report is complete it will be a relatively short period of time before a final report will be reported in a press release.
Investors have been anxiously awaiting the release of this report, expecting that Victoria Gold could be reporting an increase in gold resources. The last feasibility report that was done on our Eagle property was completed in 1997 which proved to be economically viable at $350 per ounce for gold. Shortly after the completion of that report, the price of gold plunged to approximately $250 an ounce in 2001 - thus making the Eagle property development a non viable economic venture. Since then gold has more than tripled from $350 in 1997 - now making our Eagle Property development potentially a very profitable venture. I suspect that today's higher price for gold will enable Eagle to report an increase in gold resources. IMO, a positive pre feasibility study for Victoria Gold will result in investors re-rating our company - and that re-rating will be the catalyst for sending our stock into higher ground. Presently, Victoria's Enterprise Value per share is $40 per ounce of gold in the ground compared to Chad's objective of $100 per ounce of gold in the ground - that is equivalent to C$2.50 per share.
