construction permits being issuedeVictoria Gold has said that the permits will be issued before the end of the third 1/4. This will allow them to go full steam ahead with there reserve capital and then get financing to complete the job.
If the government does not issue the permit, then the question is why, and what has to to be done to allow the permit to be granted, and why did VIT not know anything about it?( are they not the experts) then when will it be granted, and when....2014....2015 or beyond. Remember VIT said that the mine will be in will be in full production in 2012....some times stuff happens ,,,bu twhat are the true answers to all these questions.
VIT has been down a similar road before, and not keeping to the deadlines that have been self imposed, ie.2012 production to start( we are still 2 years away from any production). I understand that permitting is somewhat beyond their control, however, VIT as a company should know the paramitters and the nuances of the issueing bodies to make sure that your proposals are met ,and in a respactable time line, not to mention within the guidlines that you have set and advertised, to your shareholders
Vit has gone the last 4 years with some exploration of Dublin Gultch and environs, divested itself of almost all other assests, relied on Eagle and apparently the the eagle has either crash landed or has flown the coup Almost all self imposed guidlines, regarding permitting,financing and constuction etc. have not been met, and it really starts one to wonder whether the mangement really wants to build a gold mine or mearly stall and ultimatly sell, and maintain their jobs and benifits , with their buyouts intact. Mgt has but a pittance of actual shares ( less than 5%) if you do not count their options, that are mostly priced well above todays price, so as some sy , the have very little skin in the game, particularly if , buyouts and perhaps employment extensions abound.
We will have to wait and see if ant the end of the 3rd Qtr, the permits are indeed deliverd as per the statments of Vit, or will be non forthcoming. Having dealt with Gov"t contracts for 40 years, rarely does any plus or minus come as a surprise.
I have been LONG in VIT for over 8 years, and have accumulated well over a 7 figure share position, I have questioned mgt several times ,on their lack of meeting their own imposed timelines , and not informing the shareholders, of the misses, until months after the fact.
But have stayed firm and loyal to VIT. I wish that I had a spare 15 million to spare and I would buy outright Vit and leverage the financing and have ba pprofitable mine in 18 months, with a positve return of over 25%/ ann.
After all these years I hoe that I am wrong.
BajanJohn
(246)823-6564
PS. can anyone lend me 15- 30 million, and I will just buy them out.