Victoria Gold Corp VITFF

RE:RE:RE:RE:RE:RE:Remember Wolverine - YTG request for receivership!

[HoneyBadger77]

Well the difference with this case is that VG has been forced out and didn't just walk away like the other mining situations at Faro and Minto that left the YTG and Yukoners paying for it.

Prior to this slide, the company had a NPV of over $1.5 billion and that was at around $1900 an ounce gold.  And had about $220 million CAD in debt that they expected to have mostly paid off by the end of 2025.  There is no way you can convince me that VG couldn't have survived this at $2500 an ounce gold which put their NAV at about $2 billion.  And the company is just going to sit back and not pursue civil recourse.

If the YTG and FNs think getting VG out is going to significantly speed things up now, good luck.  But hey, when the August rainstorms start pouring down and the Haggart Creek fills with cyanide solution because the new guys needed time to figure things out, YTG and the FNs Chief will be able to say, see we told you VG wasn't doing enough.

Have a listen to this radio interview with Chief Hope.   You can skip to the 9:50 mark to hear what the radio announcer has to say about building a HLP on top of a mountain.  He apparently has extensive mining experience and it mind boggles him yet the YTG and FNs approved this mine and the HLF.  I would think VG would have a pretty strong civil case here if they decide to pursue it.  I guess time will tell.

https://www.google.com/search?sca_esv=ca10b7ff663b7daf&tbm=vid&q=Latest+new+on+Victoria+Gold+landslide&sa=X&ved=2ahUKEwje6NL5-PWHAxXdOTQIHV9HHQQQ8ccDegQICxAF&biw=1912&bih=930#fpstate=ive&vld=cid:4460bfda,vid:dt2kTd4TOdU,st:0

imo

HB77