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Victoria Gold Corp VITFF

Victoria Gold Corp. is a gold mining company. The Company’s flagship asset is its 100% owned Dublin Gulch property, which hosts the Eagle, Olive and Raven gold deposits along with numerous targets along the Potato Hills Trend including Nugget, Lynx and Rex Peso. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers (km) north of the capital city of Whitehorse. The property covers an area of approximately 555 square kilometers and is the site of the Company's Eagle and Olive Gold Deposits. It also holds a suite of other development and exploration properties in the Yukon, including Brewery Creek, Clear Creek, Gold Dome and Grew Creek. The Eagle West target area lies as close as 500 meters northwest of the main Eagle Gold Deposit and hosts the exposures of the granodiorite. The Raven target is located at the contact zone at the extreme southeastern portion of the Nugget Stock. The Brewery Creek Project is a past producing heap leach gold mining operation.


GREY:VITFF - Post by User

Post by Oregonduckon Jul 09, 2024 1:07pm
213 Views
Post# 36124645

Canadian banks don’t lose money

Canadian banks don’t lose moneyThey are like pawn brokers. VGCX owes $200 million secured by fixed and floating charges on all assets including cash on hand of $40 million, $170 million worth of gold inventory and other equipment. The syndicate of bank loans have cross-default and repayment acceleration clauses in the event of breach in loan covenants. They can petition the Co into bankruptcy under the BIA proceedings. I also doubt that FNNND will allow the gold mining at Eagle to restart in a year or more. What would happen to VGCX with no cash flow to pay the banks?
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