RE:The Bright Side of Todays Trading!There was another ~240K bid there as well just above or below that either got filled or cancelled. It was prety quick so didn't catch which.
Now for another interesting observation....as of today's close Victoria Gold now has a market cap of $71.8 million CAD and drum rolll please...Banyan Gold (BYN) a mere exploration company, at today's close has a market cap of $71.9 million CAD!
So the market is pricing Victoria Gold as if it were an early stage exploration company. Yeah I can see the similarities here...Victoria is a fully developed mining operation that produced 165,000 ounces of gold in 2023 and Banyan Gold is an mere exploration company that produced ZERO ounces of gold and will not be producing fpr years to come, if at all if Eagle is shut down. Hmmm, is BYN over priced or VGCX just a tad under priced?
The saying that Markets can remain irrational longer than investors can remain solvent is once again proving itself. Monday and maybe Tuesday's sell off was no doubt painic driven but now the share price is just being slowly manipulated down by the market makers on behalf of some entity that is hoping to acquire Victoria at a fire sale price. How low the manipulators can drive this down is anyone's guess. Although, one would think that eventually Victoria's largest shareholder and hedge fund GMT Capital is going to go long and I'm thinking a surprise 5 million shares market order (peanuts for GMT) would have the shorters scrambling to cover their shorts.
From what I can tell, GMT Capital hasn't sold a single share of the nearly 6 million VGCX shares and no VGCX insiders have sold or bought share since the slide incident, and I'm pretty sure if Victoria was done GMT Capital and VGCX insiders would be dumping every share they could to recoup anything they can.
From the statements of the Yukon Premier and the Mines Minister to date, I'm getting a sense that they are more interested in resolving this matter than shutting down the mine. On the other hand, comments made today by FN Chief Dawna Hope are concerning. Things like she believe the Yukon media is downplaying the seriousness of this incident and that she/they don't trust the government handling of this matter (now there's a shocker) and are gathering and hiring their own independent experts to assess any environmental damage. Yup, that's what you need when you've got a crisis to deal with, everyone point fingers and run off into their own corners instead of working togther to find a solution, resolve the situation, and put steps in place to prevent a future reoccurrence. Now that's leadership! A true leader, remains calm and maintains order of those they lead, gathers the facts, makes a plan, and then works to resolve the issue. That's what the Premier and Mines Minister are trying to do but of course are walking on a First Nations tight rope named Damned if you do and Damned if you don't.
And add in a media that is right there to fuel any negative sentiment it can if it means selling more news subscriptions! The Premier chided reporters for inital reporting inaccuracies and FN Chief Hope also criticized the media for downplaying the incident. Man what a circus! All we need is Trudeau traveling out to the Yukon yet to turn this $hit storm into a hurricane. No wonder this country is going to he_ll in a hand bag!
HB77