VITFF - Victoria Gold: Still On The Sale Rack

2024-01-24 14:47:17 ET

Summary

• Victoria Gold had a better year in 2023, delivering into guidance despite setbacks from wildfires, and with it reporting a record year of annual gold production.
• Meanwhile, Victoria reduced the seasonality in its business with a shift to year-round stacking and investors can look forward to an updated resource at its high-grade Raven deposit by Q2.
• In this update we'll dig into the Q4 and FY2023 results, the forward outlook, and where the stock's updated buy zone lies.

It's been a volatile year thus far for the Gold Juniors Index ( GDXJ ) in what's typically the best month of the year from a seasonal standpoint (average return for the sector of ~2.6% in January over the past 30 years). This is certainly disappointing for investors in precious metals stocks, especially with the gold price registering a record nine weekly closes above the $2,000/oz level, and can be attributed to disappointing results from larger producers which have weighed on the index and sector-wide sentiment remaining near multi-year lows....

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