CEO and President of Victoria Gold, John McConnell talks about their Eagle Gold Project in the Yukon.
As far as my background goes, I’m a mining engineer. I’ve spent over 35 years in the business, all in Canada’s north, now I’m in the Yukon building a gold mine. The focus of Victoria Gold is developing the Eagle Gold Deposit. As you can see in the background, work is under way, we’re spending over 40 million dollars in phase 1 construction. If we get the financing in place for the full development, we’ll role right into 2018 with construction and be in production early in 2019. Investors should look at Victoria gold for a number of reasons. One we’re in the Yukon, at current gold prices we make a very wide margin on each ounce of gold. So we’ll be cash flowing in 2019 and expanding the mine operation and hopefully in the future developing a second line in Victoria. Our program this year is more than thirty five thousand meters of drilling on probably 10 different targets. We’re having great success to date with the drill bit. In production will be producing over 200 thousand ounces of gold per year at a cash cost of less than 550 per ounce.
Victoria Gold Corp. is a leading gold exploration and development company. The Company’s Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.7 million ounces of gold (123Mt @ 0.67 g/t). The Eagle Gold Project is shovel-ready and when in production will produce ~200,000 ounces of gold annually at an operation cost of approximately $550 per ounce. The Project is permitted for construction and operations. Victoria’s shareholders are well positioned to participate in a highly leveraged gold play and construction of the largest gold mine in Yukon History.
Victoria Gold holds a strong cash position which enables the Company to advance Eagle development on a value add basis as we continue construction and near operations.
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