http://www.vitgoldcorp.com/site/victoria_gold/assets/pdf/VIT_Presentation_BMO_2011.pdf
Victoria is going to be very busy this year - a record amount of funds will be allocated for drilling at multiple properties - permits of adit at Cove - feasibility report for Eagle, etc.
One should note that bulk sample production from Cove will be delayed until 2nd quarter of next year as opposed to the end of this year; however, VIT will once again be drilling at "Mill Canyon" - a property where VIT reported exceptional drilling results a couple of years ago that sparked a sharp up move in our stock. More drilling will also be at Santa Fe which also reported exceptional drilling results last year. Current drilling occurring at "Wendy Point" located near the "Helen Zone" at our Cove property - some drilling results may be reported near the end of March. A $9 million dollar drilling program at our Eagle property that should get underway very soon.
Our company has sufficient cash for this years aggressive drilling activates and other corporate projects; however I would expect another stock offering to finance next years expenses - more than likely it will be a "bought deal" priced at a premium above its stock price at the time of the stock offering. Next year we should be generating some cash flow from bulk samples from our Cove property "Helen Zone".
Our stock is significantly undervalued. Please refer to the slide show that details this undervaluation.
