Chart: Which countries are falling behind in gold mine production
India tops the global ranking with demand nearly 50 times that of its mined supply.
Victoria Gold (TSXV: GCX) announced on Thursday that the company has been included in the VanEck Vectors Junior Gold Miners ETF and will be added to the GDXJ Index after this week.
Victoria is the operator of the Eagle gold mine, part of the larger Dublin Gulch property located in the Mayo mining district of Yukon Territory. The Eagle open pit contains an estimated 3.6 million ounces of gold resources (180 million tonnes grading 0.63 g/t) in the measured and indicated category.
The largest gold mine in Yukon’s history, Eagle also holds the title as Canada’s newest gold mine after reaching commercial production on July 1, 2020. Production guidance for H2 was set at 72,000-77,000 ounces.
“Inclusion in the GDXJ is a noteworthy milestone for Victoria as it is an indication of the company’s ongoing growth,” Victoria CEO John McConnell said in a press release.
“Graduating to the Toronto Stock Exchange earlier this year along with becoming a constituent of the GDXJ and other major exchange traded funds provides Victoria’s investors with improved liquidity, trading flexibility and value.”
Earlier this week, fellow Canadian gold miner New Found Gold (TSXV: NFG), which is advancing the Queensway project in central Newfoundland, was also included in the GDXJ Index, sending its stock to a three-week high.
Shares of Victoria Gold also surged following the GDXJ inclusion, up 7.5% by 12:15 p.m. EST Thursday. The Toronto-based miner has a market capitalization of C$718.6 million.
