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Hi, here's an interview with Chad Williams, shows exactly why to invest in VIT..
http://www.proactiveinvestors.com/companies/news/7007/chad-williams-ceo-of-victoria-gold-corporation-talks-about-finding-gold-at-us50-an-ounce-and-peak-gold--7007.html
Highlights of the interview in my opinion:
- Helen Zone at Cove will grow in size. Exploration potential is fantastic. Very low risk.
- Within a year we should be in production there for 80,000 ounces per year
- Eagle project is a simple project also, 170,000 ounces will be production per year
- Eagle project will grow dramatically in size. It will eventually be 8-10 million ounces in size
- With 250,000 ounces production our market cap should be over a billion dollars
- We as management feel that the potential of Santa Fe is double the company's entire mineral inventory on one project alone
- We don't need the gold price to rise significantly to see a rise in our share price. When Cove will go into production and Eagle into feasibility and eventually production, our gold should be valued at 300 dollars per ounce
This interview shows the huge upside of the company and made me buy into it's projects.
GLTA
Cruisie
and if you even take a density of 2, which is possible, but not likely, you have a resource estimate of half that ofcourse, 2,75 million ounces for that one hole..
eventhough there is a lot more drilling to be done, using the cube method for the last drill results, gives hole BW 59 alone about 5 million ounces. Ofcourse this will not be completely correct (density is difficult to determine exactly and it will never be a perfect cube ofcourse) but what we can determine is that this is a great, great find...
Another plus is that BW 59 is ofcourse not the only hole with gold....
Calculation
329x329x329x 4 (approximate density) x 1,25= 178,056,445, so 178 million grams, that is about 5.5 million ounces.
Been a while since my last post, Wild ride it was. Just want to say it is astounding to only get Can $ 1,- for this deposit... But what is fair value? If you get 5 dollars a share you're not even on 5% of the insitu value.. Below, for old times sake, what all of us longs knew, in 2008 already...Nice to be back!
100 million tons on their 100% property?
I was just thinking about how Mac got to those 100 million tonnes.
This is what i came up with:
the diameter of the circle of chromite mineralization is about 100 meters
The orebody will probably be the same or relatively the same intersection for a 3 km strike length, which is a minimum as Mac says.
That means that the surface of the circle is about 7500m2 (pr2= 3,14x50x50)
This is going on for a minimum of 3000 meters, so the volume of the orebody is 7500x3000= 22,5 million cubic meters.
The density is about 4,3 for this type of mineralization.
That means the total tonnage is around 100 million!!
Now what price do we get per tonne of chromite ore? According to the Noront website it is $750,- for 50% Cr2O3. Now let's be conservative and don't count in any side minerals that we find, and take the percentage of Cr2O3 conservatively (say 30 %).
This would mean that our value per tonne would be a minimum of 60% of $750,- = $450,-
Total insitu value will be 100 million x $450,- = $ 45 billion!
Hope this helps a bit.
Now let's also find that Nickel Copper next to this and get even more excited about this play!!
lol i own 0,02 % of KXL, been a long time since i was here, good luck in 2010! Greetings from Amsterdam!
Couple of my favorite quotes:
"The Mitchell drilling revealed a breccia zone which was a higher grade than the overall Sulpherets zone. The breccia zone has the potential to expand, which would have a positive effect on the Sulpherets zone in terms of its size and grade, says Fronk. "It also suggests that when you look at geometry of Sulpherets and Mitchell, that these two zones actually may connect." This would mean that the Mitchell and Sulpherets zones could possibly be mined as a single open pit, leading to extremely positive benefits for the economics of the projects. Logistics-wise, the Mitchell zone is already in an enviable position because of its accessibility, only approximately 20 km away from the Eskay Creek Mine"
"Seabridge also has eight consulting teams completing an engineering study on the project, which will enable the company to demonstrate what the project could look like as a mine; what its operating costs would be, its mine life and production profile. Fronk expects the report to be complete by the
end of 2008."
"Fronk says that other companies, having to continually go back to the market to raise more money, are not generating value for the dilution investors suffer, or increasing investors' exposure to the gold market. If you look at what we want to do with this asset base coupled with what we expect to get from the sale of non-core assets, we'll never need to do another equity raise," says Fronk. "So what you see in terms of shares outstanding, that's it." Seabridge has, on a fully diluted basis including all the stock options that can be coverted into shares, 38.5 million shares."
"Seabridge does have a very strong insider ownership, with over 30 per cent of its stock held by insiders. "I don't think you'd find that in most gold companies today," the CEO says. Seabridge also differs in its size: the gold company has only ten full-time employees, including five geologists, led by William Threlkeld. "We like to think we're lean and mean," says Fronk. "We're probably the best kept secret in the industry"
(important when you think of the Aurelian debacle)
Let's see what happens in december when these comex contracts might default...
GLTA