Victoria Gold

Website: www.vitgoldcorp.com
Primary ticker: TSX:VGCX
Stage of development: Production
Commodity: Gold
Project to promote: Eagle Gold Project
Project location: Canada
Company presentation: Click here



Cash:
Nil
Debt:$46 M
Major shareholders:
Orion Mine Finance 45.3%
Sun Valley  12.8%
VGCX Officers & Directors 2.6%
Oppenheimer Funds 1.2%
Investec Asset Management 0.6%
Management Ownership 2.6%

Victoria Gold Corp.’s Eagle Gold Mine is in production and poured its first gold Q3, 2019. In full production, the mine will produce 220,000 ounces per year at an AISC of less than US$800 per ounce Au. The Reserve is 3.3 million ounces of gold and the mine life is +10 years. The deposit is open at depth and along strike. Exploration potential of the greater Dublin Gulch property is good and includes priority targets Olive-Shamrock, Bluto and Nugget-Raven.

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Management Profile

John McConnell, Director, President & CEO

John McConnell’s +35 years of mining experience is mostly in Canada’s northern territories.
Previously, he was President & CEO of Western Keltic Mines until it was acquired by Sherwood Copper; VP, NWT Projects for De Beers Canada primarily responsible for permitting and development of the Snap Lake Diamond Mine; Breakwater Resources Ltd in operations at the Nanisivik Zinc & Lead Mine on Baffin Island; Strathcona Mineral Services Ltd.
A graduate of the Colorado School of Mines, with a B.Sc. in Mining Engineering John is also a Director of Hudson Resources Inc., Abacus Mining & Exploration Corp., the Klondike Placer Miners’ Assoc., Yukon Chamber of Mines, & the Mining Assoc. of Canada.


What is your rationale for taking part 121 Mining Investment?

Victoria Gold is seeking opportunities to meet with potential investors and shareholders to
explore opportunities for investment; raise awareness of its projects to the investor community; and provide current shareholders with project updates.


What are your key goals for the next 3, 6 and 12 months?

3 Months:

Achieve commercial production at the Eagle Gold Mine.

6 Months:

2020 Exploration program results on Dublin Gulch property, specifically the Raven, Nugget and Lynx targets.

12 Months:

Eagle Gold Mine – achieve annual production of 210,000 oz Au.


What do you think makes your company such a compelling investment?

Commercial production Q2 2020;
Project validated by Osisko & Orion;
Share price rerate as we move to full production;
210,000 oz/year with high margins in Canada;
High priority exploration targets, Nugget;
Production increase with year-round stacking;
Mine life significantly extended with higher gold price.

Analyst Insight – provided by Independent Investment Research

Victoria Gold is a TSX-V-listed emerging North American gold producer, with its flagship Eagle Gold Project in Yukon, Canada its primary focus. It’s 100%-owned Dublin Gulch gold property is situated within the central Yukon Territory and covers an area of approximately 555 sq km and is the site of the company’s Eagle Gold Deposit.

The Eagle Gold Mine is the largest gold mine in Yukon History. The NI 43-101 Mineral Resource for the Eagle and Olive deposits has been estimated to host 191 million tonnes averaging 0.65 g/t, containing 4.0 million ounces of gold in the Measured and Indicated category, inclusive of Proven and Probable Reserves, and a further 24 million tonnes averaging 0.61 g/t, containing 0.5 million ounces of gold in the Inferred category.

Based on current reserves, the Eagle deposit will provide 110.4 million tonnes of ore, while the Olive deposit will provide 6.5M t for a total of 116.9M t from January 2020 until completion of operations in 2030. An additional 32.1Mt of low-grade ROM ore will also be mined over this period, resulting in a total extraction of 149.0Mt. The production rate will be an average of 13.0 million tonnes per annum (M t/a) comprised of 29,500 t/d ore and 7,500 t/d ROM over a thirteen-year mine life, excluding the ramp-up period.

The company’s Eagle Gold Mine is in production and poured its first gold during Q3 2019. In full production, the mine will produce 220,000 ounces per year at an AISC of less than US$800 per ounce. In a further boost to project economics, the Yukon Finance Minister has announced a reduction of the general corporate tax rate from 15% to 12%, which will boost after-tax NPV (5% discount) from $508 million to $527 million and after-tax IRR from 29.5% to 30.0%.

The Reserve is 3.3 million ounces of gold and the mine life is +10 years. The deposit is open at depth and along strike. Exploration potential of the greater Dublin Gulch property is good and includes priority targets Olive-Shamrock, Bluto and Nugget-Raven.