Re: Vancouver Presentation last week

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The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.

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eldreco

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Re: Vancouver Presentation last week

in response to

Re: News! November 3rd, 2008

mootsweazy

posted on Nov 09, 2008 12:32PM

Hi all. Had the opportunity to attend the Vancouver presentation

hosted by Renmark Financial last week with Norge and Grycld. Should have posted this earlier, but was very busy with other stuff. So, from notes:

Fairly full small room - maybe thirty-five / forty people. Some traders, some retail. Seemed like a good interested mix.

Anyway, great talk by Chad - Gave the informed speech (keeping, of course, to the rules). It was low-key and obviously people felt quite comfortable with this. There was no discounting the passion that Chad has for VIT and his belief in the direction and properties that the company has. This is one bright guy, and I think that we should all feel very happy to have him at the helm.

Money: He confirmed that the company has approx 6.5 mil in kitty and a 500K burn rate per month.

He mentioned again that because of the industry slow-down that drill costs were down as much as 30% since March, which is good for us.

He pointed out that KGC is very supportive - and can be counted on to assist with VIT projects. Interestingly he also mentioned that of the 22 explorers that KGC has a relationship with, that the only one that has a senior KGC officer in place is VIT (Hugh Agro). This was viewed favourably by all.

Given the crowd, Chad also mentioned the 4 analysts covering VIT - Blackmont, Paradigm, Raymond James (and I didn't write down the last one...but I think Chilledjames knows). VIT is one of the only juniors receiving this kind of coverage at the moment.

More Money: The last financing was a year ago @ .70 - he doesn't see having to do another for some time.

He stressed that VIT as a company was stronger now than a year ago - but like everyone else, it was was down in terms of SP - he pointed out that this represented a great opportunity for those investors in the room or their portfolio to consider the stock. Very strong here.

As an aside - He also had a very interesting chart that he had figured out some time ago that compared POG with markets in a very different way - he said that he would post this to VIT website (as a number of folks asked him why it wasn't in the blurb they were given) - so keep an eye out for this, as I think that you would appreciate seeing it.

The talk went well - and I think was well-received. There are likely many of you who have been to infinitely more of these things than I have - but I am pretty good at reading nuance...and it felt good. Chad did a fine job of delivery of a lot of info in a concise and understandable way.

After the talk, he gave Norge, grycld, and self a hell of a lot of time - maybe way more than we expected. He was very gracious. It was great spending a bit of time with someone so approachable. He told a few stories and we joked about Raul a bit - with great fondness and respect from all sides.

Given all the flak in the market, I think Chad sees the glass as half full - and that he is actively looking at possibilities - and that KGC is real supportive. He did particularly point out that - as a shareholder himself, he wasn't keen on dilution UNLESS it represented a quantum increase in value for ALL shareholders - so this might allay a few fears out there.

Oh - did I mention this? He is real big on Cove (maybe we forgot!)

Best I can do for now. must get some work done (so I can buy a few more shares LOL)