January 9, 2012
By Thom Calandra
Energy investing ideas are occasionally my cup of coffee. Years ago, five or so years of my almost 30-year newspaper career was covering Chevron Corp., which was based in San Francisco. On the wire front, those who followed me at my MarketWatch.com got my takes on alternative energy, on Oklahoma natural gas and on other LNG (liquid natural gas) investments.
I know some of the new energy crowd, among them Ross Beaty of hydrothermal Alterra Energy, Robert Friedland of Ivanhoe Energy … a few uranium prospectors from Saskatchewan and Australia … and a collection of rock geologists who started their careers in petroleum. At Bloomberg in London, I was right around the corner from Royal Shell central. North Sea oil traders and shippers are thick as the trees in Sherwood Forest in the city of London.
The other day, looking at our roster of Torrey Hills Capital clients, I came across Lynden Energy (TSX-V: LVL; OTC: LVLEF). I did a double-take; about two years ago, I asked geologist Raul Madrid and a partner of his, Richard Andrews, over to breakfast to hear about their Texas lone star Lynden. (See Thom’s original article.)
November 15, 2011
NAPA, California – Pioneer Nevada & Colombia geologist Raul Madrid died suddenly earlier this month. He was 66.
Dr. Madrid and I met several times over the years, as recently as this past spring. He lived in Napa, California, not far from where I live. Dr. Madrid launched many companies during his career. He was a former vice president of exploration for Nevada’s Victoria Gold. He and another colleague, Ralph Roberts, worked along Nevada’s prolific Carlin Trend for many years. Dr. Roberts was considered the father of the Carlin Trend.
“The exploration community lost a dedicated geologist,” said Dr. Paul Zweng, a fellow geologist and one of Raul Madrid’s students and co-workers. “He hired me to work with Ralph Roberts in Nevada.”
Raul Madrid earned his doctorate at Stanford University under a National Science Foundation Fellowship in geology. He is credited with pioneering work in Nevada, in Colombia and in Spain. See: Related article.
November 9, 2011
Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) has completed a $30 million bought deal financing, including approximately $21.5 million at $0.46 per common share and approximately $8.5 million at $0.55 per common flow-through share. Net proceeds from the sale of common shares will be used for development of the Eagle Gold Deposit, exploration and general corporate purposes. The gross proceeds from the sale of common flow-through shares will be used for Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada), related to the exploration of the Company’s Yukon projects.
According to John McConnell, President and CEO, ”Completing this financing during these difficult market conditions speaks to the quality of Victoria’s assets and strength of our team. We expect the proceeds from this offering to see us through to a project financing decision and the start of construction of the Eagle Gold Mine.”
October 14, 2011
Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) has completed a Comprehensive Cooperation Benefits Agreement with the First Nation of Na-Cho Nyak Dun for the Eagle Gold Mine Project and on-going exploration within NND Traditional Territory Yukon, Canada. This agreement replaces an earlier one and sets out support for mine development and ongoing exploration, including the following key points and outcomes:
- Provides certainty for development of the Project and on-going exploration;
- Provides the NND with employment and economic development opportunities while respecting and promoting NND’s desired environmental protection objectives;
- Establishes a process for ongoing communication between Victoria and the NND so both parties can identify and pursue contracting and partneringopportunities;
- Provides the NND with employment and training opportunities; and
- Provides financial support and profit sharing opportunities that may result from a successful project.
September 19, 2011
Victoria Gold Corp. (TSX-V: VIT and OTC Other: VITFF) announced today that it will undertake an exploration drilling program at its Mill Canyon, Nevada project, which is contiguous with Barrick Gold’s Cortez Hills and Pipeline gold mines. This drilling program, which will test one of several high-quality exploration targets on the Company’s 6,900 acre property, is scheduled for early October, 2011.
September 6, 2011
Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) continutes to report impressive results from ongoing gold exploration drilling at its 100% owned Dublin Gulch property Yukon, Canada. Several thick intervals of significant mineralization have been identified in three targets, Steiner, Olive and Shamrock, highlights of which include the following:
- At Steiner, drill hole DG11-441C returned 16.77 meters of 2.11 g/t gold (contained in a broader zone averaging 1.37 g/t gold over a 28.95 meters);
- At Olive, drill holde DG11-445C returned 15.16 meters of 3.64 g/t gold and 21.91 meters of 2.48 g/t gold (within a zone 35.05 meters of 1.64 g/t gold); and
- At Shamrock, drill hole DG11-450C returned 3.05 meters of 21.59 g/t gold.
August 22, 2011
Victoria Gold Corp. (TSX-V: VIT and OTC Other VITFF) announced today results for the Company’s Annual General Meeting held last week in Whitehorse, Yukon Territory. All resolutions put forth by management were approved by shareholders including the election of: T. Sean Harvey, John McConnell, Hugh Agro, Edward Dowling, Christopher Hill, Leendert Krol and Michael McInnis to the board of directors.
Commenting in the release, John McConnell, CEO, President and director stated: “Our board’s extensive, combined experience in geology, finance, mine development and operations will serve Victoria well as we continue to explore in Nevada and Yukon and advance the Eagle Gold Deposit toward production.”
August 16, 2011
Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) has identified a new silver and gold discovery at Rex Peso on its 100% owned Dublin Gulch property. Grab sampling (rock-chip) has returned significant gold, silver and trace element assays including 1.8 g/t gold and 6,410 g/t silver.
“The strong gold and silver mineralization at Rex-Peso highlights an exciting new exploration target capable of hosting additional gold and silver deposits on the Dublin Gulch property”, commented John McConnell, President & CEO, “follow-up mapping and sampling programs are underway at Rex Peso, and we expect to start drilling by the end of the month”.
August 12, 2011
Victoria Gold Corp. (TSX-V: VIT and OTC Other: VITFF) announced today that the ongoing 2011 exploration drilling program at its 100% owned Dublin Gulch, Yukon project continues to intersect significant gold mineralization near the Eagle gold deposit and at targets elsewhere in the project area. The Dublin Gulch project is the site of one of the most intensive exploration programs in the Yukon region, and the 2011 work program includes diamond drilling and other geological and geochemical evaluation efforts. In addition, the Eagle Gold Deposit is in the permitting process and a Feasibility Study is expected to be completed in Q4, 2011.
In the release, John McConnell, President and CEO of Victoria stated: “Extensional drilling along and adjacent to the Eagle Gold Deposit further demonstrate the future growth potential as we move this deposit toward full production in 2014. Our strategy to find additional economic opportunities along the Potato Hills Trend have also been bolstered by recent drilling. We currently have three core drills operating on the property, one drilling on Eagle and two drilling along the Potato Hills Trend. With our 100 person permanent camp we have the unique ability to continue drilling through to early December”.
July 27, 2011
Victoria Gold (OTC Other: VITFF: TSX-V: VIT) has nominated Mr. Edward Dowling and Mr. Christopher Hill to serve on the Company’s Board of Directors. In addition, Mrs. Kelly Arychuk has been appointed the Company’s Vice President, Mine Support Services. As a result of these nominations and appointment, the Company’s board and management team have been strengthened.
Mr. Edward Dowling is the Chief Executive Officer, President and Director of Alacer Gold Corp, a role he has served in since the formation of Alacer through the merger of Anatolia Mineral Development and Avoca Resources Limited in February 2011.
Mr. Christopher Hill has been Treasurer at Aecon, Canada’s largest public construction and infrastructure development company, since March 2011. Previously, Chris held several senior management positions at Kinross Gold Corporation (“Kinross”) from 1998 through 2010.
Kelly brings over 20 years experience in the field of human resources coupled with substantial experience within the mining industry, dealing with larger scale operating mining companies in Northern Canada.