Victoria Gold Corp.

Victoria Gold Corp. is a leading gold exploration and development company. Its Eagle gold project in the Yukon hosts an NI-43-101-compliant reserve of 2.3 Moz gold. The Eagle gold project is shovel-ready and will produce 200+ Koz/year gold at an operation cost of approximately $600/oz. The project is permitted for construction. As the market turns around, Victoria's shareholders are well positioned to participate in a highly leveraged gold play and the construction of the largest gold mine in Yukon history.

Expert Comments:

"We own Victoria Gold Corp., which owns the 6.3 Moz gold Indicated and Inferred Eagle project in the Yukon. It is quite difficult to finance that project to production with gold around $1,100/oz. So I believe that Victoria's strategy of waiting until the stars are in alignment has made sense. If, however, gold has bottomed out and is heading higher, Eagle will be much more likely to attract financing. Eagle has got reasonably robust economics but not in the top quartile. We are one of Victoria's largest shareholders, and we do believe in Eagle. But the price of gold will need to reach $1,300–1,400/oz—as we believe it will—for Eagle to be financed on good terms." read more >

"I like Victoria Gold Corp. and its 2.3 Moz Eagle gold project, which will produce gold at $600/oz. The Yukon is excited because this will be one of the biggest gold mines in the history of the territory and will create many jobs. Victoria now needs only its quartz mining and water permits. The company has only one project, so it isn't affected by the new environmental regulations like some other companies with multiple projects in a single district. . .I look at Victoria as a project that will be derisked up to the point where it gets eaten by a larger company. And it is my belief that Victoria can get started on Eagle without spending the entire $383M capital expenditure and building one giant plant." read more >

Tom Hayes, Edison Investment Research (8/12/15)
"Metallurgical test results for Victoria Gold Corp.'s Olive satellite (to Eagle) deposit back up initial test results published in February and support Olive as a worthwhile potential higher-grade ore feed to the future Eagle processing plant. Additional testing at the Shamrock deposit is also anticipated, with early indications of potentially greater gold recoveries. The company had CA$14.8M cash at the end of February, which, at current cash burn rates, should last well beyond the end of calendar 2017."

Tom Hayes, Edison Investment Research (6/25/15)
"Victoria Gold Corp.'s metallurgical test results on Olive material demonstrate the project's viability as a satellite ore feed at increased gold grades and favorable recoveries, enhancing Eagle's value. . .the company has filed a revised NI 43-101 technical report for its Eagle project. This version has after-tax economics and does not change our post-tax undiluted base case value of CA$1.15 (using a 10% discount rate and gold prices given in our February update note). Our upside valuation, which factors in extra crushing capacity and raises the head grade in the early years of production (due to Olive ore being treated), is CA$1.86."

"Victoria Gold Corp. has certainly one of the most advanced projects in Yukon as it's already permitted for construction and hosts an NI 43-101-compliant reserve of about 2.3 Moz gold. Once it reaches production it will produce more than 200,000 oz annually. The company continues to explore and add value. Victoria completed an exploration program on the Olive zone, part of the Dublin Gulch property, in 2014, and initial results demonstrate that it is a high-grade deposit that could be amenable to heap leaching, which increases the value proposition for Victoria and its shareholders." read more >

"Victoria Gold Corp. has done well since we last spoke in June. It's up nearly 100%. However, the company is still trading at a very deep discount to its net present value, which is three or four times the current share price, depending on what gold price you use. It has a decent project in the Yukon, which is obviously a safe political jurisdiction. I think this is one stock that could double again from here. [Victoria has announced that it's focusing more on mergers and acquisitions.]. . .I hope that Victoria doesn't buy anything that is too big. In the Eagle deposit, it has a very big deposit already. I guess if it's actually going to try and put something into production, it's better if it's smaller, quite frankly, unless it buys another very big sleeper project and waits for the gold price to increase. I think the Eagle project will get into production at some point over the next couple of years. It's not a project that requires a very high gold price to be economic." read more >

More Expert Comments

Experts Following This Company

Don Blyth, Analyst – Paradigm Capital
Eric Coffin, Owner – HRA Advisory
Tom Hayes, Analyst – Edison Investment Research
Douglass Loud, Executive Director – Greystone Asset Management, LLC., Axiom Capital
Jeffrey Mosseri, President, Director – Greystone Asset Management, LLC.
Darrell Pasloski, Minister of Finance – Yukon Mining Alliance
Philip Richards, Fund Manager – RAB Capital Limited

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Investing Highlights
One of the largest undeveloped gold resources in North America
Eagle Gold is a Shovel Ready gold mine
200,000 ounces gold per year
catalyst Calendar
Operational Water Use Licence for Eagle
Project Financing Update