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1. Company Snapshot

1.a. Company Description

Victoria Gold Corp.acquires, operates, explores, and develops mineral properties in Canada and the United States.The company primarily explores for gold deposits.


Its flagship property is 100% owned Dublin Gulch property, which hosts the Eagle and Olive-Shamrock Gold deposit covering an area of approximately 555 square kilometers located in central Yukon, Canada.The company was formerly known as Victoria Resource Corporation and changed its name to Victoria Gold Corp.in July 2008.


Victoria Gold Corp.was incorporated in 1981 and is headquartered in Toronto, Canada.

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1.b. Last Insights on VGCX

Negative drivers behind Victoria Gold Corp.'s recent situation include the heap leach facility incident at the Eagle Gold Mine on June 24, 2024, which led to temporary suspension of operations and damage to infrastructure. The incident has resulted in a series of updates and assessments, with the company focusing on safety and mitigation of harm to the environment. Furthermore, the Ontario Superior Court of Justice has granted an order appointing PricewaterhouseCoopers Inc. as the receiver and manager of Victoria Gold Corp., indicating significant financial distress.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Victoria Gold Announces Appointment of Receiver over Victoria Gold Corp.

Aug -15

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Canada’s Yukon Seeks to Place Victoria Gold Into Receivership

Aug -14

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Victoria Gold Provides Update on Heap Leach Facility Incident

Aug -14

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Victoria Gold: Update on HLF Incident Management

Jul -30

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Victoria Gold: Update on Eagle Gold Mine

Jul -12

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Cyanide Spill Detected Near Victoria Gold’s Eagle Mine in Yukon

Jul -04

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Victoria Gold Provides Update on Eagle Gold Mine Incident

Jul -04

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Individual investors account for 54% of Victoria Gold Corp.'s (TSE:VGCX) ownership, while institutions account for 33%

Jun -25

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.00%)

6. Segments

Eagle Mine

Expected Growth: 7%

Eagle Mine's 7% growth is driven by increasing gold prices, high-grade ore reserves, and efficient mining operations. Victoria Gold Corp.'s focus on exploration and development of adjacent deposits, such as the Dublin Gulch property, also contributes to growth. Additionally, the mine's low cash costs and high recovery rates enable the company to maintain profitability and invest in further expansion.

7. Detailed Products

Eagle Gold Mine

A gold mine located in the Yukon, Canada, producing gold doré bars

Dublin Gulch Property

A gold property located in the Yukon, Canada, with exploration and development potential

Olive-Shamrock Zone

A gold deposit located within the Dublin Gulch Property, with potential for open-pit mining

Nebula Zone

A gold deposit located within the Dublin Gulch Property, with potential for underground mining

8. Victoria Gold Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Victoria Gold Corp. operates in the gold mining industry, which has few substitutes. However, the company's reliance on gold prices and the availability of alternative metals could pose a moderate threat.

Bargaining Power Of Customers

Victoria Gold Corp.'s customers are primarily gold refineries and jewelry manufacturers. The company's large customer base and lack of concentration in the customer base reduce the bargaining power of customers.

Bargaining Power Of Suppliers

Victoria Gold Corp. relies on suppliers for equipment, materials, and services. While the company has some bargaining power due to its size, suppliers may still exert some pressure on prices and delivery terms.

Threat Of New Entrants

Entering the gold mining industry requires significant capital investment and regulatory approvals. The barriers to entry are high, reducing the threat of new entrants.

Intensity Of Rivalry

The gold mining industry is highly competitive, with many established players. Victoria Gold Corp. faces intense competition for resources, customers, and market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 28.73%
Debt Cost 12.64%
Equity Weight 71.27%
Equity Cost 12.64%
WACC 12.64%
Leverage 40.31%

11. Quality Control: Victoria Gold Corp. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Wesdome Gold Mines

A-Score: 6.1/10

Value: 5.2

Growth: 8.4

Quality: 8.4

Yield: 0.0

Momentum: 10.0

Volatility: 4.3

1-Year Total Return ->

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Orezone Gold

A-Score: 5.9/10

Value: 5.7

Growth: 9.2

Quality: 7.6

Yield: 0.0

Momentum: 10.0

Volatility: 2.7

1-Year Total Return ->

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Orla Mining

A-Score: 5.1/10

Value: 3.4

Growth: 9.9

Quality: 5.1

Yield: 0.0

Momentum: 10.0

Volatility: 2.3

1-Year Total Return ->

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Stock-Card
Victoria Gold

A-Score: 4.8/10

Value: 9.7

Growth: 8.6

Quality: 4.6

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
New Gold

A-Score: 4.6/10

Value: 4.1

Growth: 4.3

Quality: 6.0

Yield: 0.0

Momentum: 10.0

Volatility: 3.3

1-Year Total Return ->

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Coeur Mining

A-Score: 4.3/10

Value: 2.6

Growth: 4.3

Quality: 6.8

Yield: 0.0

Momentum: 10.0

Volatility: 2.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.48$

Current Price

0.48$

Potential

-0.00%

Expected Cash-Flows