GREY:VITFF - Post by User
Post by
HuskySWon Jul 17, 2024 2:52pm
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Post# 36137114
VG - Risky Business or Bankruptcy - Both are easy to do.
VG - Risky Business or Bankruptcy - Both are easy to do.This is all for entertainment only, has no real basis, and does not reflect on anyones reality.
It does not comment on any real events or people or refer to anyone now in existance or passed. No opinion is presented or implied.
So for your entertainment or not.
Here's a recent example of an ongoing mine "closure".
In case anyones wondering about the fate of can happen if VG mgmt just says the moni doesn't work. It's why I think VG shareholders or anyone wants this.
So instead of quoting highly exciting court cases ...;)
Be prepared it's brutal. Also notice who's YTG point.
It's in case your wondering why I think closure of mines that have proven inventory and good prices should not just go bankrupt, it's just what can happen, but please read on.
And you may also notice who goes to go to the next gig. lol
I have not seen any reports that here was any wrong doing by management. It's just business. OK. ;)
Imagine the scene if VG does like below and you wake up to the news. Sure the 80c is just vaporized, but the real loss was the cliff dive on or around the 24th do to LoC.
Right now NO one knows what going to happen, EMR, FN, YTG, VG and more are concentrating on damage control and remediation. Board of directors for Minto Metals quits after company pulls out of Yukon copper mine
The board's six members resigned along with two vice-presidents
The entire board of directors for Minto Metals has resigned, days after the company announced it was stopping operations at Minto Mine in the Yukon.
Board members Gati Al-Jebouri, Lazaros Nikeas and Derek White resigned effective May 12, while Joe Phillips, Chris Stewart and Jay Johnson resigned effective May 13.
Two vice-presidents also announced their resignations Tuesday: Tracy Dormer and Loralee Johnstone, who resigned May 5 and May 13, respectively.
https://www.cbc.ca/news/canada/north/board-of-directors-for-minto-metals-quits-days-after-company-pulls-out-of-yukon-copper-mine-1.6845603
Five years and just like that Board and VP's leave...
Now the lien's and things are just working through court.
https://www.cbc.ca/news/canada/north/minto-mine-ceases-operations-yukon-1.6534164
Some settlement
https://www.cbc.ca/news/canada/north/minto-receivership-royalty-settlement-1.6920813
Someone's makin moni No buyer but someone makin moni
https://www.cbc.ca/news/canada/north/minto-mine-pwc-no-buyer-liquidate-assets-1.7162935
Remediation and buyer
https://www.cbc.ca/news/canada/north/minto-mine-remediation-plan-three-years-yukon-1.7130386
Best