VICTORIA RESOURCES-A NEW CHAPTER OF NEVADA EXPLORATION HISTORY?
By Willem Middelkoop and Robert Proby
As promised here finally our special on Victoria Resources. But unfortunately the most interesting section is not part of it. On request of the management of Victoria we decided to withhold publication of the interviews with several geologists of Victoria. Victoria still finds itself in a transition period in which the company can’t disclose any material information.
Bema Gold used to have a 30% stake in the company. In fact they managed the company since key positions were taken by Bema people. This also explains part of the lack of openness from Victoria. Normally junior exploration companies need all the publicity they can get. But for Bema Gold, since February 28 owned by Kinross, publicity would not be very helpful. They didn’t need the retail investors and so doesn’t Newmont Mining, which actually owned much of these properties before they gave the projects to explore to Victoria. They have a guaranteed back-in right for 51% of the project, in case Victoria finds more than 500.000 ounces of gold.
After the press release by Victoria January 9 of holes NW-1 and NW-3, the discovery of such a deposit seems to be a question of time only. So we are dealing here with two majors who have a very large interest in a small junior exploration company and both decided to stay as much under the radar as possible so they could stake as much of the area as possible.
The following picture, from the new website, proofs we are not dealing here with the average exploration company. More than 10 geologists, 4 of them top guys with Dr. titles, are working on the Victoria properties.
When Victoria made the discovery in hole NW-1 and NW-3 the company was, by law, obliged to inform all investors. But in the press release the news was buried as much as possible. The best grades in years, “225 meters of 2.72 g/ton gold from a depth of 435 meters down to 661 meters”, found by an exploration company in Nevada were mentioned only halfway the release.
Our intuition told us this was a story we had to research as deep as possible. This was the first time after the first Aurelian discovery news of April 2006, we spend so much time studying one exploration company. Hours of research led to the main players of this exciting new discovery. We even interviewed two of the main geologist on the project. But when we showed the trans to the management of Victoria we were asked not to publish because this could cause serious distress, given the sensitive change of ownership and the position of some of the people we talked to so we decided to give Victoria some more time. The company is in the process of sharing more information with investors. This can also be seen on the first pages of their new website which is currently being constructed
UND HIER GEHT'S ZUR NEUEN WEBSEITE ===>>>http://www.victoriaresourcecorp.com/
hat ja auch lange genug gedauert
Gruß KN
RPEL