Agoracom: Small Cap Investment - Victoria Gold Corp - A coincidence that Victoria gold just got the right amount of financing?

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The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.

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Yacknl

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A coincidence that Victoria gold just got the right amount of financing?

posted on Aug 14, 2010 09:36AM

A coincidence that Victoria gold just got the right amount of financing (25M)? At the right time?

I would normally think this is a coincidence, but the timing and amount of money makes you think. Victoria Gold (who has the lease/own 30-40% of the Relief Canyon pit gold)announced, on the day after Platinum (the lender who now owns the mine from FirstGold's BK) says they hired a lawyer specializing in the sale of BK properties, they have sold 25M worth of stock. Since the RC mine/plant is probably being sold for ~19.3M (what was owned to Plat) and was reported will cost 4.5M to move from the heaps to the pits and there is ~1.2M in CAD to USD conversion....25M

So as I said, I would normally think this is a coincidence, but the company (VIT) who leases/owns part of the pits just raised the right amount to buy and upgrade RC mine on the day after the creditor announced they hired a BK property selling lawyer. We will see if it is just a coincidence.