Victoria Gold Corp VITFF

YT and the order of Payment!

[givemeabreak1]

I suspect the reason why YT acted so quickly was heavily based on trade payables.  Alot of trades were not getting paid and fear that many may never get paid in other words putting alot of them out of business.  If it were Ontario or even BC not a big deal but in the Yukon with such a small population and number of businesses a big percentage of their business base could be wiped out.

Stepping in quick likely preserves or thought to preserve value.  So the order of payment becomes important.  First, course any kind of DIP or similar financing, next secure cereditors, then unsecured creditors and last but not least coming up the rear and taking it in the same place shareholders!  Good chance if they start up relatively quickly ie get it sold the secured and possibly even the un-secured may get enough preserved value and make short falls up through future business with the mine.

Like Polley, they can make up alot of the clean up as they operate.........