Victoria Gold Corp T.VGCX

Alternate Symbol(s): 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 > Corrupt

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Comment by HoneyBadger77on Aug 16, 2024 11:25pm

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Post# 36183865

RE:RE:Corrupt

No givemeabreak1, you are wrong. The $50 million being provided upfront to PWC as mentioned in the court order is NOT coming from the bond posted by Victoria Gold, it IS the YT government's money being fronted to PWC to expedite clean up until the Receiver is in place and can assess and locate all of VG's assets. Once that is done the Receiver will commence using VG's remaining cash and other readily available asset proceeds to pay for clean up and to then pay the YTG back for any portion of the $50 million they used up to that point.

The Justice Minister stated at today's briefing that if and when all VGs assets are used, any further cost would be covered by YTG and treated as a debt to be repayed to YTG by VG later on or through liquidation of VG remaining assets if needed. A reporter specifically asked if the bond was being used and the Minister confirmed not at this time and that they still need to review if it can even be used for remediation under these circumstances since it is a reclamation bond.

Listen to the meeting video to learn what's really going on and what was actually said at today's briefing. Yukon government says it didn't intend to shut down Victoria Gold | CBC News

It's clear that YTG intends to use VG's funds and assets first and maybe the bond later after they review and meet with the two bond issuers, if more funds are needed. Pretty amazing really, put the company into Receivership and then use their money to run the show with no say as to how it's spent.

imo

HB77

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