Howard Milne from Victory Ventures (VVN-V)
HDM Capital Inc.
604-687-4719
From: Jon Hulstein [mailto:jonpatrick77@hotmail.com]
Sent: May-10-13 10:10 AM
To: hdmcap@shaw.ca
Subject: Hi Howard, feel free to pass around...
May 10, 2013
www.BullMarketRun.com
Victory Ventures (VVN, TSX-V) Cashes Up And Goes After Its Own Discovery In Northern B.C.
The hottest play on the exploration front at the moment – and this could easily continue right through the summer – is in northwestern British Columbia where Colorado Resources (CXO, TSX-V) is drilling its North ROK Property where it announced an important Gold-Copper discovery a couple of weeks ago…more on Colorado in a moment…as we’ve been mentioning, a company that’s uniquely positioned to also grab a lot of attention in the immediate future is Victory Ventures (VVN, TSX-V) which is getting ready to commence a drill program of its own – scheduled to commence during the first week of June…this is not a case of a company with some “cow pasture” near a discovery that it’s trying to promote…in fact, in early February, nearly 3 months before Colorado’s announcement that it had drilled 333 metres grading 0.51% Cu and 0.67 g/t Au in its first hole at North ROK, Victory had secured the drill permits for its highly prospective Copau Property and announced its intention to commence a drill program by the middle of the year…a ground magnetic survey located a pronounced northwest-southeast linear-trending anomaly throughout much of the Copau claim area, and this encouraging information was then backed up by an IP survey that located a strong chargeability response underlying the southwestern portion of the property…the chargeability anomaly occurs from depths of approximately 200 metres with increasing response to 450 metres (similar to patterns at North ROK), which was the maximum reading depth of the IP…the present known extent of the anomaly varies between approximately 300 and 400 metres wide (east-west) and over 1,200 metres long (north-south), appearing open to both the west and south and at depth…
Copau is located approximately 5 km from Colorado’s discovery…it’s actually situated between North ROK and Imperial Metals’ (III, TSX) Red Chris Mine (11 km to the south of Copau) which is expected to go into production next year… meanwhile, Colorado is also currently drilling its optioned Eldorado Property which is just a couple of kilometres from Copau…so there’s plenty of activity in the area…more good results from Colorado (from either North ROK or Eldorado), and speculation regarding drilling at Copau, could give investors a real victory with VVN…and if there’s a hit at Copau, look out…Victory’s property has easy road and water access (this is not helicopter-supported drilling)…we also wouldn’t be surprised if the company were to add to its land position in the area, given its knowledge of the region and its stronger financial position…this is the best time, for a company positioned to do so, to pick up very prospective ground from weak players…it’s reasonable to believe that VVN is on the hunt…
Victory’s share structure has us particularly excited as well…at the moment, VVN has just 17.5 million shares outstanding…the company was first listed in August, 2011, raising about $1 million in its IPO at 15 cents…there are 9 million warrants outstanding, at an average price of 19 cents, and just over a million stock options mostly at 10 cents…the company has been careful in managing its cash (a good sign) and is boosting its current cash reserves of $400,000 with an over-subscribed financing at a nickel and another financing announced yesterday at 6 cents…the two private placements will raise in total approximately another $500,000, arming Victory with nearly $1 million as it proceeds to a drill program with a tight float…of course the shares issued in these two financings are locked up until September or so…
Below is an updated VVN chart, and note the Fib. target…there is very strong technical support at 7 and 8 cents…as always, perform your own due diligence but we like the prospects for VVN as this northern B.C. discovery story in the prolific Iskut River region continues to unfold… |
