GREY:VITFF - Post by User
Comment by
HoneyBadger77on Aug 16, 2024 11:25pm
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Post# 36183865
RE:RE:Corrupt
RE:RE:CorruptNo givemeabreak1, you are wrong. T
he $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