RE:RE:Amazing how the remediation number arrives right on timeWell Steve55, It seems that there's still an opportunity for VG lawyers to request amendments to the Court Order if there is a desire to do so.
jus-victoria-gold-appointing-receiver-order-2024.pdf (yukon.ca) See page 23, item 45 that states:
45. THIS COURT ORDERS that
any interested party may apply to this Court to vary or amend this Order on not less than seven (7) days’ notice to the Receiver, the Applicant, and to any other party likely to be affected by the order sought or upon such other notice, if any, as this Court may order.
____________________________________________________
So VG lawyers, here's your chance to file an application with the court to amend the Court Order (within 7 days) to include the Justice Minister's comments about the YTG not intending to put VG out of business and YTG's
now stated goal and intention of getting the mine back to the state it was before the slide incident and return VG to the viable mining operation it was before the incident. Heck, if YTG wants to prove their sincerity, even add in a clause that YTG will even provide a govt loan guarantee of up to $250 milion CAD to VG if such financing iis required by YTG. This would prove that the Justice Minister's comments are truthful, sincere, and not just political posturing (unless of course that's all it is). I'm guessing YTG got a blast from Yukoners who are concerned about the implications this Receivership move will have on Yukoners likely ending up having to foot the bill for yet another YTG mining oversight failure.
"The Yukon's justice minister says it was not the government's intention to shut down Victoria Gold when it put the mining company into receivership earlier this week.
Speaking at a technical briefing Friday morning, Minister Tracy-Anne McPhee said the government does not want to put the company out of business.
"This is not the end of the company from our point of view," McPhee said.
"We were very careful to make sure there was a process for a path forward."
McPhee said the government's goal won't be to close the Eagle gold mine or sell off Victoria Gold's assets, but rather to get the mine back to the state it was in before the failure. Yukon government says it didn't intend to shut down Victoria Gold | CBC News The order amendment if granted should be enough to rethink his recent statement that the company is "Done".
'It's over': Victoria Gold board quits as Yukon mine goes into receivership, CEO says | CBC News The other interesting clause in the court order is in relation to employees of the Respondent (VG):
EMPLOYEES 15. THIS COURT ORDERS that
any employees of the Respondent shall remain the employees of the Respondent until such time as the Receiver, on the Respondent’s behalf, may terminate the employment of any such employees. The Receiver and the Lead Environmental Consultant shall not be liable for any employee-related liabilities, including any successor employer liabilities as provided for in section 14.06(1.2) of the BIA, as applicable, other than such
So it looks like JM and his team could be there much longer than he is now expecting to be and maybe VG is't quite as done as JM believes.
Of course Steve55, you wouldn't want to be a VG shares holder if / when VG stock resumed trading.
Be interesting to hear JM's reply to this latest news.
My opinion only.
HB77