PINL:VITFF - Post by User
Comment by
HoneyBadger77on Oct 04, 2024 7:25pm
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Post# 36254095
RE:YTG has a lot of confusion with a lot of things
RE:YTG has a lot of confusion with a lot of thingsInteresting...Excerpt from Yukon News link (first para under the "Digging into the report" section):
"A contractor has been engaged to do borehole drilling, which is needed to determine next actions to reinstate the heap leach facility, and a technical consulting firm has been engaged to assess and design work necessary to restore the heap leach facility to a state in which it can operate."
Sure seems like they (YTG and PWC) plan to get Eagle back into production. Is this perhaps so YTG can ensure the mine has a steady cash flow / income from the mine until all their costs and debt owed to YTG, other secure debt holders, contractors, etc are all repaid vs. selling the assets at pennies on the dollar and probably never getting their money back? Then once Eagle is again operational and remediation work well under control, sell the mine as a fully operating mine for much closer to fair market value? Or does VG continue to exist as a company and owner of the mine and continue with any remaining assets? Depending on how long this all takes, do VG shares eventually resume publicly trading? Maybe the YTG Justice Minister wasn't kidding when she previously stated they have no intention of putting VG out of business.
This whole thing just gets stranger by the day....
In my opinion...DYODD
HB77