John McConnell, President & CEO of Victoria Gold (VIT:TSX.V) explains the company’s main focus, the Eagle project in the Yukon Territory.
We’re totally focused on our Eagle project in Canada’s Yukon Territory. In production it will produce over 200,000 ounces of gold per year. With the cash cost of less than 550 per ounce, very wide margins in terms of profitability. In production we’ll employ close to 400 people on an annual basis, adding 4000 jobs to the Yukon.
Eagle is the main deposit. Right now we’re exploring a couple of satellite deposits. They are within three kilometers of Eagle, higher grade, small, but will be meaningful contribution to the overall mine plan. The future plan for Victoria is to develop Eagle. We hope we get the opportunity to build it, but the majors haven’t done any exploration over the last 10 years. If somebody comes along and offers our shareholders a nice premium, then maybe we won’t be building it.
Our team is why I’m successful, it’s a small team of professionals, geology, mining, metallurgy and permitting. They make me look good every day. Victoria is a great company. We’ve got a great deposit in the Yukon, we’ve got cash in the bank. It’s a pleasure going to work every morning.
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