Victoria Gold Corp T.VGCX

RE:VIT AMENDS DEBT FACILITIES AND WELCOMES NEW LENDERS

[NickelOne]

OCB1234 wrote:
"We have moved a portion of the subordinate facility over to the senior facility as there was strong demand from internationally distinguished lenders when Orion offered to syndicate the senior facility. On a combined basis, Victoria will pay a slightly lower interest rate," stated John McConnell, President & CEO. "Victoria enjoys a very positive relationship with our funding colleagues including Orion, Cat Financial and Osisko Gold Royalties. We now welcome well respected mining financiers SocGen and Macquarie as our newest funding partners."

If I'm reading this correctly, it looks like VIT has $35 mil left to get through to commercial production and positive cash flow.  

OCB1234 - your reading is so far off....

If I am reading this correctly Orion is selling secured debt to reduce their exposure to VIT and look for better deals and higher returns. VIT is also setting foundation for new debt, as issuing w shares would be the laugh of the market. Expect a new debt package from SocGen before the famous first gold pour...

Electrum and SunValley would get out of this name, but they can't as they are stuck. Electrum got shafted big time - the small retail are non existent in VIT's management books. With the embarrasing low volume (68k shares traded on TMX Venture) it would take them years to get out (if ever). 68k shares is a clear statement on how much confidence the market has in VIT.

On a positive note, it looks like they installed the steel structure for the conveyor feeding the tertiary crushers. I am actually impressed by the quick progress on this, I wish I would know the price we have to pay for the quick progress...