Rick Rule Victoria Resource Corp VIT-X COMMENT Mar 07, 2016

It is infrastructure challenged. He does not have the courage to own it.

A gold developer in the Yukon. Exploration has been cut in half over the last decade. These development projects will be picked off and acquired at some point. It is shovel ready and waiting for permits. It is a good project, but it does not fit what he looks for because of no free cash flow.

Location of their deposit is remote though politically secure. Not impressed with their feasibility study (low cash flow relative to capex), and is extremely leveraged to higher gold prices. Perhaps investors who want a company to own Canadian assets may consider buying this.

It is a very junior play. They may well have a small discovery that is interesting. It is a purely speculative play based on what might be in the ground. They have no revenue. Gold will break out in the next year or two.

They are into the early production stage. It seems very interesting. Anything like this is extremely leveraged to the price of gold, which he thinks will go up. He prefers ZJG-T rather than trying to pick the best one.

They're building a gold mine in the Yukon. It's coming into production now. He doesn't own development play and buys exploration instead.