- Victoria Gold released its Q4 and FY2020 results this week, reporting record quarterly gold production of ~42,400 ounces.
- This translated to more than ~$15 million in free cash flow in Q4 and pushed annual gold production above 116,000 ounces.
- Looking ahead to FY2021, the company has guided for strong production growth at relatively high costs, but costs should drop materially in FY2022 with two major projects in FY2021.
- Based on Victoria's reasonable valuation per reserve ounce relative to Tier-1 peers, I would view any pullbacks below US$8.90 as low-risk buying opportunities.
For further details see:
Victoria Gold: A Strong Finish To FY2020