RE:RE:RE:Patience Wearing Thinmarshalljj wrote: Thanks NickelOne. This is exactly what I was referring to. McConnell assured investors in the video you shared and other times that they were safely capitalized to get to CP. I was still worried, which is why I wrote Lenora Hobbis back in November or December. She said they were good to go. She should have told me they hoped they were but that it wasn't guaranteed. Instead, she told me they were fully financed. This is the kind of stuff that makes investors lose trust and get mad and Victoria did not need anymore slipups after overruns on construction costs. Anyway, my position will take a beating tomorrow I'm sure and I'll just keep holding till we hit CP. We have even less room for error now. Sure hope we are able to produce 12-15 thousand ounces a month by June. We need nothing but good news from here on out. Thank goodness gold prices are doing so well. It has really helped my investment in Eldorado Gold over the past year and a half. I also have a large position in Fortuna. You have any other companies you like right now? I need to get prepared to move out of Victoria if they do not execute properly over the next two months or so.
GLTAL
Marshalljj - you only have to be prepared to move out of VGCX in following circumstances:
1. They are forced to shut down operations at Eagle due to COVID19 and pressure from First Nations and Provincial authorities. The 20M they just diluted current shareholders will evaporate fast and default is likely as they will not be able to service their debt.
2. The recoveries are lower than projected - I highly expect this will be the case in the next couple of months and possibly long in the future. AIC will be greatly impacted and margins will be much lower than projected, making this a marginal economic project.
3. The "management" will make other amateurish moves and try to blame it on COVID19 or anecdotal Murphy instead of owning their actions and incompetence.
I never relied on current management honesty, they are the opposite face of honesty. This was proved over and over again, but they are pretty "smooth" on their moves, which make me believe they have a lot of experience in misleading shareholders (existing and potential). Their credibility in mining and investing industry is very low, reflected by the current share price.
There is a chance they will be able to ride the storm, but expect dismall earnings for Q1 and Q2. Expect costs to be much higher than projected and advertised over and over again.
Under no circumstances I would recommend any investment opportunities to anyone on this bullboard. I have a select number of people I communicate with on investing opportunities. There were many in the last 7-8 weeks, including VGCX below 6 dollars/share. There are still once in a lifetime investing opportunities out there.
GLTA