Paul VanEeden
Virginia Gold Mines
VIA-T
PAST TOP PICK
Jun 27, 2005
(A top pick March 2/05. Up 54%.)The Quebec Eleonore findings looks like a potentially major discovery. It's high grade at surface consistant. If everything goes wrong the stock may drop by 50%, but the upside could be a doubling of the share price. Not cheap.
Not widely covered which is one reason he likes it. It's under acccumulation. A new high in a gold stock is very rare these days. Have a potential gold deposit which is starting to look bigger than what the market originally thought 5/6 months ago.
Probably the best discovery in Canada in quite some time. Good management. Stock is probably ahead of itself. Some other companies in that area are Everton Resources (EVR-X) and Beaufield Consolidated (BFD-X). (Penny Dreadful speculations right around the Virginia property.)
Have a big gold deposit in Northern Quebec. Have 3 drill rigs on it at the moment. Thinks it has the potential for larger than 300 million deposit. Also have other assets that have a lot of merit.
Had great discoveries and there was a lot of takeover speculation, but got ahead of itself. Could be a little bit lower. Still a primary takeover target. Looking out to 2006, it should continue to be one of the better market performers.