GREY:VITFF - Post by User
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HoneyBadger77on Aug 17, 2024 8:04pm
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Post# 36184554
RE:RE:What kind of a Territory is this where a person
RE:RE:What kind of a Territory is this where a person Zibo510,
I believe that JM replied to that criticism a while back in a news interview or something similar saying that the January slide was not deemed a 'Material' event on the advise of VG's lawyers and that's why it wasn't reported in a company news release.
It was a 14,000 ton slide of ore material only and in a completely different and unrelated area to the June slide. The ore did not contain any leach solution, and it was in January when plenty of snow was on the pad. There's a picture somewhere that I've seen. Don't have it handy but sure you can find it.
The slide was in January when it was likely -50 celcius and snow everywhere. Not too likely an 'Uncontrolled Fluid Build-Up' situation unless the fluid contained -50c strength anti-freeze. So how material was the January slide really? 14,000 tons of material is equivalnt to about 4 average sized cars and probably 2 scoops of material in one of VG's heavy equipment machines. There's a big difference between a 14,000 ton slide and a 4 million ton slide and trying to correlate these two events in hopes of getting a lawsuit payout is in my view a waste of time but hey it sure makes for a news worthy attention getter and perhaps helps to draw a bunch more VG shareholders (than the inital filer) into the belief that this is their key to getting blood from a stone.
I expect the lawyers are the only ones that are going to make money on that one but hey go for it if that's what floats your boat. I was involved many years ago in one of these so called class action suits for a company named Nortel. I had a loss of about $150K. And guess how big my cheque for my portion of the settlement....are you ready? Drum roll please.... $34 dollars! I think it took me 2 to 3 hours to decipher and fill out the claim paperwork. So for those here that have never been part of a class action suit, you best temper your expectations to severely reduce your disappointment level if and when you get your settlement cheque. Oh, and Nortel had several hundred million million in cash and patents so what do you think you would get from a VG settlement in their financial condition? Hey but again, if you've got nothong but time, go for it!
My opinion only. DYODD
HB77