Now THAT is a great increase in the value of Dublin/Eagle. Congratulations to the geo team in the Yukon for a job well done!

ron48-

This is all good and all, but missing the day before that has all officer option grants.

For example, Mr. McConnell and Mr. Williams rewarded themselves for screwing up the Cove resource and dumping the share price by granting themselves 500K(mcconnell) and 525K(williams) stock options. The total grant according to the press release was 2, 725, 000 shares. Add up all those granted to officers and directors, you get 2, 025, 000 shares, meaning the other 700, 000 went to employees. Now according to thomas, Mr. Williams said there were 12 geologists on staff. Is this total company wide or just Nevada? If all 12 geologists (and no other employees, which is unlikely) were granted equal options, that would be ~58, 300 options per geo. It likely was less, because not all employees of Victoria are geos.

So, quite an incentive for the geos to do well...even the VP Exploration was granted only 150, 000 options. So the only group in the company that has the direct ability to cause a substantial increase in the share price (and returns for investors) is incentivized the least. Not certain where that is a logical choice. When the company put out the news release for Mr. Ted Wilton being hired, they painted it as here is this great guy with all this experience....well, judging from what he is awarded, the confidence doesn't seem there. This is, of course, entirely my perspective and opinion.

Who besides Chad Williams is purchasing stock and how much? Is Mr. Williams being able to trade a symptom of how little he really knows, meaning he lacks any insider-non public information? How can a CEO effectively manage a company without knowing what's materially happening at the lower level? The only legal way Mr. Williams can trade is if he does not have material information. Something is fishy here......

The fool idea that insider buying is a good thing is just that, a fool idea, especially when put in the context of what else is going on with the company. What if the stock being bought is also being sold by lower employees (who do not have "insider" profiles requiring thier trades be made public)? What if the stock being bought is that being sold in relation to former employee stock option exercise? There is too much information missing here to make an objective assessment.

Having someone say "Hey look, Chad is buying!" right after he and other long term employees quit makes me feel like I'm in the Emerald City!

Yeah, a few...

This is NOT a good thing at all (IMO), for several reasons, and may likely add to the current gradual decline of the stock price.

1) Mr. McConnell is likely not interested in putting anything into production, only selling the company as he did with Western Keltic Mines. The share price was only 32 cents when he sold that company at a premium around 50 cents. Looking at the past history of WKM, the stock was WAY better off when Mr. McConnell wasn't there. Victoria's VP Nevada Projects, John Goyman, also served as VP Construction and Operations for Western Keltic.

2)In 2008 Mr. McConnell had a short excursion into a zinc mine in Tennessee with Strategic Resource Acquisition, which ended up in bankruptcy. Mr. McConnell was SRA's COO, making him responsible for operations at the zinc mine. Did Mr. McConnell make money on that deal, even though the company went into bankruptcy? He did become Victoria's Exec. VP shortly after, in early 2009.

3)Mr. McConnell is on the board of at least two other companies, which means, unlike Chad, he may not be entirely dedicated to Victoria or the needs of ALL of its shareholders. Chad was willing to devote his full time to Victoria (serving as both CEO and a director), I don't expect Mr. McConnell will. It is common practice for executives to serve on the boards of several companies at once, but that doesn't always mean it is a good thing.

4) The Cove-McCoy project/Helen zone resource estimate error! Being an experienced mining engineer, I would think Mr. McConnell would have reviewed the resource estimate and identified the error reported. He was the Exec. VP at that time, what was he doing??? Will Victoria truly be able to go underground at Cove-McCoy, and is that truly the intention? What was Mr. Goyman doing? How did he miss the error as well when he is responsible for advancing Victoria's properties in Nevada to production? Perhaps this is why there has been no resolution to the Newmont back-in issue (they knew the resource was not reliable).

5)Why has there been no development or exploration work on Big Springs since the Gateway purchase in 2008?? Big Springs has 1.2 million ounces at a much better grade than Dublin Gulch/Eagle, yet the focus is the Yukon. Was there a similar screw-up as Cove with the Big Springs resource? Yukon-Nevada has a mill/roaster by the Big Springs property that is capable of processing BS ore. It seems to me that the capital expense of doing additional mining at an existing mine site, with nearby processing and a good average Au grade (2g+) would be much, much less than that for a very low grade deposit in The Middle Of Nowhere, Yukon. This really makes me question whether or not production is a real goal.

6)Victoria is bleeding geologists here in Nevada. Why?? Raul Madrid, long a prime driver, and good geologist for the company, left. Several other geologists, who worked for Victoria for many years, left recently as well. Now the CEO quits, and Mr. McConnell is put in his place? Turnover, especially of long term employees AND the CEO gives me caution; something is not right at Victoria.

7) Was the resultant massive dilution of the Gateway and StrataGold purchases driven by Mr. McConnell or Chad?

Victoria has very good projects here in Nevada, but with the departure of Mr. Madrid, the other geologists who worked the projects for years, and now Mr. Williams, I am not convinced Victoria can truly become a sustained gold producer, or that production is the goal anymore. That is, of course, entirely my opinion.

I have been reading this forum for awhile and hold a modest position in Premium. I live/work in Nevada, but recognize the geologic potential of the OSZ in Idaho. The holdings along the zone are good, the drill results are huge (though not high grade) and the future looks bright.

I have lurked here for some time and decided to join. Having worked in Nevada for some time, I am aware of Victoria's activities. The properties are good but other issues keep my investment in Victoria small. Nevada is a great place, which is why I choose to work here. I hope to provide some Nevada prospective for those who are not Nevada based.