GREY:VITFF - Post by User
Comment by
Nick2021on Jul 16, 2024 9:57am
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Post# 36134457
RE:RE:RE:Really?
RE:RE:RE:Really?This is why I wouldn't buy it:
- the most likely outcome is bankruptcy (total loss for retail investors)
- the next most likely outcome is a functioning mine that doesn't produce profits for anyone because of its gigantic liabilities which are the only reason it is permitted to stay in operation
- a barely possible outcome is a mine that takes on a vast amount of debt to survive, and after years and years of operation returns to a point where it can produce a tiny return for investors
The first of these is a total loss for investors; the second of these is a total loss for investors, the third is a tiny profit for investors which you get by accepting an unbelievable amount of risk for years and years, from a management team which has already shown their 'competence'.
Why not just make a good profit with less risk elsewhere? What's special about Victoria to make anyone decide "Hey, this gigantic garbage fire is a good place for me to store my money?" Gold is hitting 2450/oz right now. Functioning miners are printing money. Juniors are looking more attractive as takeover targets.
I understand holding onto a terrible stock that you already own, I've done it myself; but buying into this? It's amazing.