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.

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Victoria Gold Corp > Husky, there is very little info available regarding

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Comment by SWHuskyon Aug 13, 2024 1:54pm

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Post# 36176960

RE:Husky, there is very little info available regarding

jbrown,

Thanks for digging this out. Interesting question. If there is no insurance for anything at all then of course the question is, why not.

So the question is what is, if any, are the certain risks "mine" insurance. If there is some applicable insurance it may not make everytihng "whole" but it may go a long way to getting to that point.

There appears to be something going on which is not jumping out, it is possible that VG is waiting untill the current "HLP" "embankment shift" reports, from all parties start flowing in.

In the meantime I would not be surprised that there are about over a dozen entities that were involved in the mine (HLP) buildout. What each companies involvment past and present was will certainly come out. Those companies will also have insurance, but are probably also waiting for the root cause analysis also. If there are a lot of 3rd party insurers involved sometimes they may work as a "group" to come to a number.

I'm not sure from a shareholders perpsective what it would mean to be operational again, assuming that's the goal, but one could think there would be at least an uptick in share value.

imo

mdjbrown wrote: liability insurance coverage, however there are a couple disclaimers present in the Feb 2024 reported AIF

Does the $104 million bond held by YTG, replace liability insurance requirements in the event of a mining accident?

Insurance and Uninsurable Risks

Mining operations, including, exploration, development and production operations on mineral properties, involve numerous risks, including, but not limited to, the risks described herein. It is not always possible to obtain insurance against all such risks and the Company may decide not to insure against certain risks because of high premiums or other reasons. Moreover, insurance against risks such as environmental pollution or other hazards as a result of exploration and production is not generally available to the Company or to other companies in the mining industry on acceptable terms. Although the Company maintains insurance to protect against certain risks in such amounts as it considers reasonable, its insurance will not cover all potential risks associated with its operations, and insurance coverage may not continue to be available or may not be adequate to cover any resulting liability. Should such liabilities arise, they could reduce or eliminate any further profitability and result in increasing costs and a decline in the value of the securities of the Company.

https://vgcx.com/site/assets/files/7288/vgcx_-_aif_-_ye_december_31_2023_final.pdf