Victoria Gold Corp VITFF

Better have given Mr McConnell the $50m

[KenoHillYT]

to drill the wells, build the berm and move forward.  New investment money could have likely been found, probably ugly, but the gold is there

Addtional new expenses and probably premium rates

New camp
New contractors
Inquiry by independent engeering
New management
And the list goes on and on an on...

or
 
In hindsight an option that might have saved VG and shareholders would have been for John McConnell to negotiate a "bad actor" clause and possibly saved the mine, same as Mr. Baker did for Hecla.  In other words get a new CEO in.  In past cases it was evident that territories (states) and people just don't get along with management due to pre-existing regulations and conflicts.
 
Once Mr. McConnell was "fired" and PWC gained receivership any and all other VG mines and assets could be attached to the receivership, it also open up the door for YTG, EMR and FN to "move" forward with Fisheries now sartisefied because the remaining fish were protected from drinking the water, which apparently is now not measurable except right at the heap spill.
 
In  both these cases the "culprits" were guilty before any trial.  There is so much more to these issues than CEO's allegedly failing on their respective watches.
 
I had heard rumors that VG employees and management where running the mine into the ground and doing things contrary to orders.   Then there's 100's of people that need to be dragged into an inquiry.

Some of it is true in regards water issues but there was a discussion with EMR and as far as I know the solution that was agreed upon as the best option.

The additional water storage was not per agreement but when you’re between storage and pollution sometimes you have to roll the hard six. 

Also all mines in the Yukon sometimes had inspection issues with water and pollution, its mining.

It was very strange that when PWC immediately fired Mr. McConnell and then YTG $50m available as funds for the first 60 to 90 days to "remediate" the mine.  Was this the play?  Then spend more?

It will also now be interesting to see if the bonding can be exercised for it is possible that a Heap Breach and failure is not on the list of insured.

Also on top of this are all the "local" creditors and shareholdee losses.

This might go down as the worst play ever by any YT government to date.

We'll see.