By The Gold Report
Source: Streetwise Reports 05/17/2018
The news flow for this company includes initiation of a gold hedge program and filing paperwork with the TSX Venture Exchange for a new royalty agreement.
To offset the risks involved with fluctuating gold prices, Victoria Gold Corp. (VIT:TSX.V) recently announced it has entered into a “gold price protection program” for its Eagle Gold Project in Canada’s Yukon Territory.
The hedging program, entered into with Macquarie Bank Ltd. includes the following provisions:
The company also described the program as “unsecured and [a] zero-cost collar” in its May 14 press release.
Free Reports:
In other recent news, Victoria Gold announced it had filed documentation with the TSX.V exchange with regard to its royalty agreement with Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE) and a March 8 private placement. Under the terms of the royalty agreement, Victoria Gold “shall sell to Osisko a 5 percent net smelter return (NSR) royalty for proceeds of $98 million.” With regard to the private placement, 250 million shares were purchased at $0.50 per share, as were 25 million share purchase warrants with an exercise price of $0.625/share over five years.
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Disclosure:
1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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( Companies Mentioned: VIT:TSX.V,
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