Topic: How To Invest

Hi Pat. Can you please tell me your recommendation for Victoria Gold? Thank you.

Article Excerpt

Victoria Gold, $0.25, symbol VIT on Toronto (Shares outstanding: 339.3 million; Market cap: $84.8 million; www.vitgoldcorp.com), is focused on bringing its Eagle gold deposit into production in 2014 or 2015. The company aims to build a $430-million mine on the site. Victoria expects this mine to produce 212,000 ounces of gold annually in its first five years, and an average of 192,000 ounces annually over its 12-year life. The company also believes there is lots of room to increase the deposit’s reserves, and possibly its annual production. Right now, it appears the deposit could hold as much as 6.3 million ounces of gold. Victoria may have difficulty raising the funds it needs to build the mine. It also needs gold prices to stay high for the project to be viable. However, it has a prominent major shareholder in Kinross Gold Corp., which holds a 17% interest in Victoria Gold. Victoria Gold is okay to hold, but only for highly aggressive investors. investors. …