Victoria Gold Corp VITFF

RE:Lest You Forget!

[HoneyBadger77]

Well, I believe the bond is called a 'Reclamation Bond' for a reason and if I was the ones financially backing a $104 million bond, I'd sure be legally arguing that I never fronted the money so it could be used for environmental clean-up costs that allows the company to return to production and operating again as a going concern.

If the Eagle Mine was at or near EoL and the cost to get it back into production was clearly not feasible, then YTG might have an arguement to access the bond funds but hat's not the case.  In fact, Eagle is / at least was just really getting started with the real money starting to be made and with plans to seriously pay off the majority of their $200 million in debt by the end of 2025, had this little misstep not occurred.  So my guess is that YTG and the banksters have already talked this out and said, let's try and fix this becuase doing so with production at 170K + ounces a year and gold prices at $2500+ an ounce and probably going higher yet, resolving this is a win-win for everyone.  Gee, sounds like something several of us on this board have been saying for awhile now.

I'm hoping that with JM and his team (Respondent Employees) being court ordered to remain as employees until their employment is no longer needed and they are release from employment by the Receiver will give JM and his team a chance to witness the progress I expect Parsons will quikcly show and maybe he will see the light at the end of the tunnel and realize that VG is not done, just yet.

I also suspect that if and when the day ever comes that this is under control and Eagle is back in operation if JM is still there as the CEO that as a condition of JM continuing as CEO that the Court will order that Parons continues to be the overseer of the Leach pad and closely monitor things to ensure there isn't a repeat of the June 24th event and that VG will be bound to take whatever steps / actions Parsons directs.

There's way too much gold still in the ground, economic benefit to Yukoners, and money to be made for the creditors to just walk away from this one with only pennies on the dollar unless the numbers don't justify the return and that's the big unknown at this time.   But I believe the company taking on another $250 million debt at this stage of the project, pending identification of root cause and future cost estimates by Parons et'al, is very doable...just ask Husky if you don't believe me..Lol.

Not what you're hoping for Singo58, but this approach really is in everyone's best interest, and you'll get over it eventually.  The YTG and FN's readily admit that they need mining to continue but it needs to be done responsibly and no one can argue with that.  There has to be a way to stabilize and repair the leach pad even if it means moving the HL Pond further up hill and giving up some pad real estate so the pad can be secured with retaining walls or whatever at the toe end and the spillway not able to be blocked as occurred in this case.  Or maybe they go back and build the In-Valley HLF that was originally contemplated?  Who knows but I'm sure they'll figure it out.

There's an old saying that if there's a will, there's a way.  And it seems that there may just be a will developing but only time will tell.  There are so many compelling reasons to fix this, people just need to stop saying it can't be done and get er done!

My opinion only. DYODD

HB77