Victoria Gold Corp T.VGCX

Just an observation

[Dragunov]

I'm not an investor but find this situation interesting. Based on an article shared here...

(https://www.northernminer.com/news/victoria-gold-charged-after-second-landslide-at-eagle-mine-this-year/1003869073/)

... the situation on site is unclear:

"Investigators have yet to determine the full extent of the damage at Eagle. At the media briefing, they couldn’t say how much contaminated water from the landslide is being contained, how much contaminated water was released and how much cyanide was in the HLP ore at the time of the accident. It’s also unclear how much, if any, contaminated water escaped the property."

I don't know what the truth is about this incident, but I do know for certain that the sort of entitled people present in that region are quite greedy and prone to making loud and false accusations in order to get more $$$ for nothing. These massive polluters don't care about the environment,  but they will protest and whine like no other group... Since the corrupt government is all too happy to appease these freeloaders, I wouldn't expect a quick, fair, or reasonable outcome.

[Nick2021]

In reality, the people you are talking about are the ones who live there, and have for a very long time.  The mine was permitted presuming competence on the part of management; as we can see, a very generous assumption, and one that was not fulfilled by Victoria's team.  When you're a guest in someone else's community, it's your responsibility to avoid making a huge mess.

[rkhosla]

i applaud your response to the prior racist / classist / ill-informed post.  

[Dragunov]

You must be one of them... 1. The mine was permitted because the chiefs got the compensation they wanted, not because of some goodness of their heart.  2. Based on what I've gathered, management has set up a profitable and competent operation - although the feathered folk will likely say otherwise on CBC. It'll be easy for them to claim incompetence, same as you have, given that

[Nick2021]

Calling management 'competent' after a massive, mine-closing landslide causes the stock to lose 80% of its value is an interesting approach to analysis . . .   The permitting for the mine would have had an environmental component; it would have excluded a gigantic failure of the heap leach pad.  The fact that management failed to operate the mine in compliance with its

[Dragunov]

1. Management does not control the stock price. 2. Shutting down operations was a prudent thing to do; companies do that whenever there's a serious incident which needs to be investigated and corrected. 3. Gigantic failure? You must know something which others aren't privy to... "Investigators have yet to determine the full extent of the damage at Eagle. At the media briefing

[Stratocheif]

Unfortunately there are those who are closed minded and refuse to accept what they see, attacking others who express suspicions (and rightly so) that this is not a "serious incident that caused the company to prudently stop operations" but an end to mining operations due to a catastrophic failure the full extent of which has yet to be evaluated. Did you read the initial statement from

[Bubula50]

In light of what you have said May I ask your opinion as to how you think this will pan out over the next 6 months ? Do you think this is a downward spiral from here and absolutely no hope whatsoever ? Thanks Bubula

[Nick2021]

These are good questions that can't be answered in terms of facts, but they can be answered in terms of risk: Risk One:  to survive, the company will have to raise cash at terms that are highly disadvantageous to current shareholders.  This is affected by the side of the environmental cleanup bill, the amount of time production is out, and the cost of repairing the infrastructure

[Nick2021]

Here is someone to follow -- I don't know who Tom Szabo is, but he's well respected by other mining analysts that I follow, and he has at least a somewhat technical background.  Here are a couple of his comments on Victoria (note that apparently this is not their first landslide 'this year'): https://x.com/tombszabo/status/1806043959682306538  

[Dragunov]

Guess you know more than everyone else. The only thing left to do is to have that area fenced off from now on for all eternity.

[Nick2021]

It's really weird -- even the idea that the mine was shut down by management is bizarre. The landslide shut down the mine!  Management built the structure that failed!  It's the equivalent of the gunpowder factory blowing up; you wouldn't say that the management decided to suspend production.