Victoria Gold Corp VITFF

RE:Root cause

[Whateverrr]

Ding Ding Ding.  Right you are.  Your points are old trope by spot on regarding the hidden nature of the managment about bad issues, poor running of a mediocre producing mine, pressure to probably take what lead to excess risks to hit what many were told would be easy, conservative production numbers at an amazing AISC and for investors to remember how CONSERVATIVE they were and real metrics would be amazing for all involved.  Project 250 was a joke at the time, proven absurdly so with years after it.  I am sorry you did not pull the trigger a few years ago and exit with a few of us.

iwasgold wrote: I can't be bothered to read back through all the posts, so I hope I am not repeating someone. I am amazed from pictures of the HLP how steep the hillside is there. I wish I had thought of it before, and dumped my shares, but this is not a black swan - it was totally predictable without engineering training. Basically they coated a hillside with thick rubber, dumped sand on it, and irrigated the sand as fast as they could to get the gold out. They made a slurry on rubber sheets!  Even on flat ground it would slump out, but throw in a slope and the thing had to happen eventually. I don't know if the cyanide addition rate exceeded engineering limits, but I would not be surprised if it did, given the pressure for production results. I have to think that whoever the engineering company was who designed the HLP should go bankrupt too. Lawsuits will continue. I imagine the receiver will sell off all the assets of Victoria, ie Brewery, Banyan etc. One day someone might take a crack at raven even.  Ultimately the blame lies with JM, and us for not doing a better job holding his feet to the fire. The mine was a gong show from the start. They never knew what they were doing, and kept us in the dark. There were signs though, that I reflect on in the darkness of 3 am - project 250, the belt failure, lack of timely disclosure, huge issues getting and keeping employees, and most annoying of all, JM just came across as so dopey in his presentations. It was greed, ie hope for a better sp, that kept me in the game, and that was my fault alone. I have to take the hit and learn from it. End of story.