Victoria Gold Corp VITFF

Metals & Mining Gold

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

Victoria Gold Corp

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Post by HuskySWon Jul 14, 2024 11:28am

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Post# 36132101

Gold Forward Contracts, $$$, etc. - Ask of Oregonduck

Oregonduck

Thanks for your post(s), very informative.

I have read your comments, there is a lot information that describes financial and contractual obligations by VG to various entities.

Would you be so kind as to expand. Is the gist of this that VG owes other miners and enties at non advantageous rates? I believe a defualt of some payments on loans to banks have already occured?

Do you have some thoughts on even if the mine is re-opened where will the shareholders be at from a monetary persepective?

Is the following the type of transaction(s) referred to?

Gold Forwards

Gold forwards (gold forward contracts) work essentially like futures – the main difference is that they are not traded in organized markets. It means that forwards have credit risk, as there is no clearing house, no mark-to-market mechanism. In exchange, forwards are not standardized, but customized to meet the investors’ special needs. Therefore, a gold forward contract is a transaction in which two parties bilaterally agree on the purchase and sale of gold at a future date. These contracts often contain terms that are party specific, that are difficult to transfer readily to other third parties – it makes them less transparent and liquid than futures traded in an open market. However, investors usually pay larger premiums for the privilege of customization. The majority of gold forwards are traded in the London gold market.

Technically I think the mine can be repaired and the env. cleanued up, but the more I read of the finances, forward obligations and how this was set up it begs the question. Is this company headed into a forensic audit of it's accounting and obligations on top of the current "loss of containment" issues it has to deal with?

Any and all comments welcome.

Thank you

Best