Canada’s Newest Gold Producer Increases Gold Reserves And Production
There was a time not too long ago when I wasn’t a fan of Victoria Gold (TSX-V:VIT). The company had 850 million shares outstanding and had ran overbudget on the construction of the Eagle Gold Mine in the Yukon.
- Reserves increase from 2.7 Million to 3.3 Million ozs Au
- Annual production increases from 200,000 ozs to 220,000 ozs Au
- Cash Costs1 per Au ounce: US$577
- All-in Sustaining Costs (“AISC”)2 per Au ounce: US$774
- Post tax Net Present Value @ 5% discount = $1,034 million
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