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Victoria Gold Corp.

TICKER: VIT:TSX.V

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.


The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

Don Blyth, Paradigm Capital (7/28/14) "Victoria Gold Corp. announced additional encouraging drill results from the Olive zone; a phase 2 program has been approved. . .the best results from the batch of results from Phase 1 drilling include 31.5m of 2.19 g/t gold and 35.3m of 1.67 g/t gold. . .these results indicate a strong potential to increase gold production for the Eagle project; given the close proximity of the Olive zone (~2.5km from Eagle), this should be able to be developed as a satellite deposit."

The Gold Report Interview with Philip Richards (6/16/14) "One of our main holdings is Victoria Gold Corp., which has a deposit called Dublin Gulch. The main drilled-out portion of Dublin Gulch is the Eagle deposit—the most advanced gold project in the Yukon. It has reserves of 2.3 Moz and a resource close to 5 Moz. In our view, the Dublin Gulch area could easily hold in excess of 10 Moz. The company has a full bankable feasibility study for a project with an NPV of about $1.2B and a strong internal rate of return. For this to succeed, one needs a rising gold price. For people who expect gold to remain at current levels, this might not be a compelling story. But for those who believe in higher gold prices—as we do over the next couple of years—Victoria Gold is very cheap now. The company is at the end of the predevelopment process. While it needs to get financing in place, a rising gold price would facilitate that. The current market capitalization is only $42M. It has nearly that same amount in cash. That puts the enterprise value at around $10M. Once the financing is in place, I expect this story to do very well. . . The company sold some properties in Nevada, so it is sitting on a cash pile and can afford to wait several years before building, if necessary. Victoria Gold will get a partner or it will self-finance. It can afford to choose its time." More >

Tom Hayes, Edison Investment Research (5/21/14) "Victoria Gold Corp.'s 100%-owned Eagle gold project benefits from year-round, all-weather roads and the company plans to tie in to nearby grid power. Significant milestones have already been completed, notably the feasibility study, the environmental assessment process, a favorable agreement signed with its First Nation partners in October, 2011 and receipt of a construction license in September, 2013. With continuing uncertainty surrounding Chinese and global economic growth, Victoria provides an enticing opportunity to invest in a sizeable, low-cost gold project, with robust economics geared to a recovering gold price."

Jeff Desjardins, Tickerscores (3/13/14) "Victoria Gold Corp.'s Eagle project is permitted and, when in production, will produce 200 Koz/year gold. The economics on the project are some of the best in the Yukon. . .and the company is well positioned financially with $32M in cash, investments and receivables."

John Hayes, BMO Capital Markets (2/26/14) "Victoria Gold Corp. is pursuing M&A opportunities with a focus on near-term cash flow and consolidating its land position in the Yukon. The company is continuing its exploration and drilling activities at its Yukon properties. . .Victoria is on track to receive a water license for the Eagle operation before year-end. . .and the company's cash and receivables is CA$27M, with cash burn of less than CA$500K per month."

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Joe Mazumdar, Canaccord Genuity (6/5/13) "Victoria Gold Corp.'s Eagle project is among our upper quartile projects (Q4/13 under US$1,000/oz). . .the company is one of a few leveraged non-producers that hold significant gold resources with working capital positions relative to their minimum burn rates, which should allow it to weather the current market conditions over the next few years."

John Hayes, BMO Capital Markets (2/19/13) "The Yukon Environmental Assessment Board issued a final screening report on Victoria Gold Corp.'s Eagle gold project recommending to the government of Canada and the Yukon government that the project proceed. The company expects the positive screening report will result in decision documents from both levels of government, leading to the issuance of a quartz mining license for the project, which would permit construction to begin."

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