VITFF - Victoria Gold: Organic Growth At A Reasonable Price
- Victoria Gold released its preliminary Q4 and FY2021 results last month, reporting quarterly production of ~49,500 ounces and ~164,200 ounces, respectively.
- This translated to a massive miss vs. the company's initial guidance mid-point of 190,000 ounces, overshadowing what was otherwise a solid year for the company.
- If we look ahead to FY2022 and FY2023, the future looks quite bright, with Victoria likely to increase production by at least 25% year-over-year, and more than 40% in 2023.
- Given that there's a dearth of 200,000-ounce per annum assets in Tier-1 jurisdictions not held by multi-asset producers, I see Victoria as a possible takeover target and a Speculative Buy below US$11.30.
For further details see:
Victoria Gold: Organic Growth At A Reasonable Price