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:

"Victoria Gold Corp. and its Eagle gold project: I don't follow the stock in HRA but I did visit the project last fall and reported back to subscribers on it. The company put out a feasibility study in 2012, based on $1,325/oz gold. It forecast a pretax $273.1M NPV, a 24.1% IRR and an initial capex of $382.8M. Proven and Probable resources are 2.3 Moz, with an all-in production cost of about $600/oz. I think what Victoria is doing now is quite smart. The company has made some changes, rethought its geological model and generated some new targets. Some of these targets have yielded better-grade, near-surface material. Victoria is focused on discovering new near-surface zones that would have the biggest impact on project economics. If Victoria can create two or three zones of that type, it can bring the IRR and the NPV up, especially the former. But the economics aren't bad right now. The issue Victoria has, mirrored by so many other juniors, is trying to finance the operation without diluting its shareholders into nothingness. I suspect that the perfect scenario for Victoria would be to make a deal with a major that spends the money henceforth and earns most of the project. Or Victoria could sell it at a good price." read more >

Andrew Randell, Geology for Investors (12/11/14)
"Victoria Gold Corp. has significantly advanced the Eagle gold project. . .Eagle, and the larger Dublin Gulch property, will be interesting to watch over the next few years, either as a study in mine permitting and construction or as an investment opportunity. At the time of writing, the company is trading at $0.11 and so is relatively cheap for such an advanced stage project."

"I love Victoria Gold Corp. I have been there and like what it has been doing. It has 2.3 Moz gold at Eagle and will produce it at $600/oz." read more >

Tom Hayes, Edison Investment Research (11/28/14)
"Victoria Gold Corp.'s 2014 phase 1 Olive exploration program drilled 20 holes into this higher-grade target. The assays returned support the view that Olive could supply higher-grade ore to a future Eagle project processing plant, enhancing economics for the first few years of operation."

"Victoria Gold Corp.'s share price is down to $0.10. Nevertheless, its strategy is the right one. The Eagle project in the Yukon is permitted to mine, but Victoria is not willing to accept any kind of financing from, let's say, hungry private equity groups at disadvantageous terms. So the company continues to drill and find new zones, like Olive, and it has the cash to do just that. It's not in a rush to develop Eagle in this market. From a valuation standpoint, Victoria is trading almost at cash. It's in the Yukon so that's a safe jurisdiction, too. . .the grade at Olive is almost double that of Eagle. In my opinion, Victoria should define a resource at Olive. Then when Eagle is three to five years into production and the grade in the mine plan drops, Victoria fills that gap with higher-grade ore from Olive. That would increase the internal rate of return because the company would likely to need limited additional capital to bring Olive on-line. If Victoria demonstrates it can go that route, Olive could bring investors back. Victoria is like an option on gold without an expiry date. . .the management and board have experience in building mines. The other question is: Does Victoria have the operating team in place? It doesn't yet, but it doesn't need to. If it came to a production decision, which I don't see any time soon given its share price and the market conditions, it would have to beef up the operational team." read more >

Ben Kramer-Miller, Seeking Alpha (11/5/14)
"Victoria Gold Corp. reported the results of its summer exploration program at the Olive target adjacent to its Eagle project in the Yukon. . .highlights from the drill program include a drill hole that is 69.7m long at 2.29 g/t gold, which is very high grade. The company also found 99.8m at 1.02 g/t. Such results indicate that there could be another very large deposit on Victoria Gold's property. . .when the gold market turns, Victoria Gold will be one of the top beneficiaries, and I think this is a great optionality play for those willing to take the risk of owning a gold mine in the Yukon."

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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
Q1
2015
Q2
2015
Operational Water Use Licence for Eagle
Q3
2015
Project Financing Update
Victoria Gold Corp. Content