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Victoria Gold Corp T.VGCX

Alternate Symbol(s):  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.


TSX:VGCX - Post by User

Post by Oregonduckon Jul 15, 2024 6:39pm
212 Views
Post# 36133767

You can stick a fork in it

You can stick a fork in itIt is done. I know how the banks work. They owned all the collateral including the gold and have a "Right to Offset the Cash" in VGCX accounts to repay the outstanding loans. Osisko Royalties having advanced $500 million for the construction of the mine has no security. Royalties and streaming gold are just one form of hybrid financing. Vendors will start repossessing their equipment. Any debtors can now petition VGCX into bankruptcy under the Fed's Bankruptcy and Insolvency Act (BIA). The Co can voluntarily file for BK protection under CCAA proceedings to allow them time to reorganize. There is no meat left on the bone for unsecured creditors and common shareholders under either proceedings.
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