VIT:TSX.V

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.
VIT:TSX.V

Expert Comments:

The updated definitive feasibility study for Victoria Gold's 100%-owned Eagle heap leach project reflects improved economics for the mine, prompting five analysts to applaud the company's investment and takeover potential.
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Byron King, Gold Speculator (9/20/16)
"Victoria Gold Corp.'s property in Yukon has road access and is fully permitted. . .construction can begin tomorrow morning. In fact, the company is performing preliminary engineering work to expedite other construction with roads, power lines, etc. . .considering what Goldcorp paid for Kaminak last May, I'm looking at Victoria as a near-term takeover play. . .maintain buy on VITFF, up to $0.60 per share."

Tom Hayes, Edison Investment Research (9/20/16)
"Victoria Gold Corp. released an updated feasibility study for the Eagle Gold Project in the Yukon, which includes run-of-mine ore from Eagle, higher-grade Olive ore, and accounts for the lower mine construction costs in Canada. . .these new inputs have positively influenced operating costs (AISC at US$638/oz) and shortened construction from two years to one. . .Further, Eagle's economics have been positively affected by a devalued Canadian dollar against the greenback over the period since the previous 2012 FS, as well as a resurgent gold price."

Richard Gray, Cormark Securities (9/13/16)
"Victoria Gold Corp. is developing its flagship Eagle project located in the Yukon. . .the updated study for this shovel-ready project in Canada outlined an operation that can produce 200,000 oz/yr and generate a post-tax IRR of over 30% using current gold/C$ pricing and over 20% using a gold price as low as $1,100/oz. . . as one of the very few shovel-ready projects in Canada that can allow a larger company to benefit from the tax synergies of a Canadian development project, we believe a takeover is still a realistic possibility for Victoria Gold."

Don Blyth, Paradigm Capital (9/13/16)
"We are optimistic that Victoria Gold Corp.'s Eagle project has more resource upside than that assumed in the Feasibility Study, but we have a number of tweaks to make to our model and we generally take a more conservative view about costing than company studies assume. . . We are confident that after making the changes to our valuation Eagle will remain a strong project. . .We also expect Victoria to remain one of our favourite Developers. . .It offers many advantages to the acquirer and investors over and above an attractive valuation: a shovel-ready; permitted project with a robust IRR being just one. . .We maintain our Speculative Buy recommendation."

Ryan Walker, Echelon Wealth Partners (9/13/16)
"Victoria Gold Corp. has reported a summary of robust results of an updated Feasibility Study (FS) of its 100%-owned Eagle gold project in the Yukon. . .The latest FS yielded an after-tax NPV5% of $508M and IRR of 29.5%, based on an initial capex estimate of $370M, base-case gold price of US$1,250/oz, and CAD/USD exchange rate of 0.78. . .We reiterate our Speculative Buy rating, $0.90/shr price target, and Top Pick H216 status, whichreflects the Eagle project’s strategic size, fully permitted status, district-scale land package with substantial exploration potential, and situation in geopolitically stable Canada."

Adam Melnyk, National Bank Financial (9/12/16)
"Victoria Gold Corp. released an updated DFS for the 100%-owned Eagle heap leach project in the Yukon. . .on an after-tax basis, the headline IRR for Eagle is 29.5%, which is a significant increase from 18.1% in the previous DFS update. The updated DFS now incorporates mining of the satellite Olive-Shamrock deposit (~2km from the main Eagle deposit). . .in our view, the new study confirms the economic attractiveness (and leverage) of Eagle. . .We believe that VIT's valuation is well-deserved and reflects Eagle's solid economics, exploration upside, fully permitted status and location in Canada."

More Expert Comments

Experts Following This Company

Don Blyth, Analyst – Paradigm Capital
Eric Coffin, Owner – HRA Advisory
Richard Gray, Analyst – Cormark Securities
Tom Hayes, Analyst – Edison Investment Research
Tony Hayes – Euro Pacific Canada
Timothy Hayes – Davenport & Co.
Byron King, Editor – Agora Financial
Thibaut Lepouttre, Editor Caesars Report
Don Maclean, Senior Analyst – Paradigm Capital
Derek Macpherson, VP Mining Analysis – Red Cloud Klondike Strike Inc.
Joe Mazumdar Exploration Insights
Adam Melnyk – Desjardins Securities
Gwen Preston, Founder Resource Maven
Philip Richards, Fund Manager – RAB Capital Limited
Florian Siegfried, Senior Portfolio Manager – AgaNola
Craig Stanley, Analyst – Stifel
Ryan Walker, Analyst – Echelon Wealth Partners

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
 
Permitted, shovel ready, economically robust project
 
High leverage to increasing gold price
 
Cash in treasury
 
Yukon is a mining friendly jurisdiction
 
Blue Sky Potential
 
Experienced Management Team