Ubika Research Managing Director’s wide ranging interview appears on The Gold Report
The Gold Report 07/26/2010
Auszug:
TGR: What are some of the companies you're following?
VR: We are following quite a few companies; in gold, we have a particularly strong portfolio. Some of the notable names include: La Quinta Resources (TSX.V:LAQ), VG Gold Corp. (TSX:VG; OTC:VGGCF; Fkft:VN3), and NWM Mining Corp. (TSX.V:NWM; NYSE:NWMMF), Rye Patch Gold Corp. (TSX.V:RPM), Eagle Hill Exploration Corp. (TSX.V:EAG) and Atlanta Gold Inc. (TSX.V:ATG).
TGR: One company that you mentioned, VG Gold, just hit about 31 grams gold over about 25 meters on its Paymaster property in Northern Ontario. For our readers who don't know, VG stands for Visible Gold; there's clearly some visible gold in that drill core. Tell us about that company.
VR: VG Gold is one of the companies we follow and have followed for a long time; and, as you rightly said, they had a very interesting drill result recently. All of VG Gold's properties are located in Timmins, Ontario, which is one of the world's best gold-producing zones. The key focus for VG Gold is Paymaster, which it optioned from Goldcorp Inc. (NYSE:GG; TSX:G). There was a huge drill result that returned almost an ounce of gold per ton over 25 meters. That provides evidence for a strong gold-mineralized system, typical of porphyry-system mineralization, which is what we believe the West Paymaster property has. The property shows near-surface mineralization amenable to open-pit, bulk-tonnage mining and also strong underground-mining potential.
This property is situated very close to Goldcorp's Dome Mine, which so far has produced over 17 million ounces of gold. Other discoveries have been made in the area, including one by West Timmins Mining Inc., which was acquired this year by Lake Shore Gold Corp. (TSX:LSG) for more than $400 million. We believe VG Gold has similar potential; based on our research and analysis, we think it could be one of the few junior resource companies with the potential to break out and provide the types of returns investors crave. The company has three other high-potential properties in the same area. It already has an NI 43-101 compliant 1.2 Moz.-gold resource and at least two properties are fully permitted for production. We believe it has probably drilled less than 20% of what is available and has the potential to develop multimillion-ounce gold resource base. We are watching that one very closely.
www.investorpoint.com/news/METALMIN/32700126/
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