RE:RE:YTG has a lot of confusion with a lot of thingsBadger,
It's all possible.... "A contractor has been engaged...."
"Sure seems like they (YTG and PWC) plan to get Eagle back into production."
Great question. Thanks
Remember when FN was mad, like everyone else (when the heap failed) and stated they wanted all mining shut down. Was the closing a knee jerk reaction by YTG who knows, but for sure that would have punished Hecla (Keno Hill) along with their remediation efforts. And affected countless other placer miners...
The juniors would have been probably been estopped en masse. Plus the remaining popuation would have been instantly out of work. Totally unworkable and the global headlines would have really wonddered what was going on with YTG.
I beleive it is certain the VG did not have the cash flow to Immediately do all the requirements in the time frame requested as it is also clear that even with "unlimited funds" that Parsons can't do it either. Noting against Parson's they are operating in the same physical reality as VG except for the endless amounts of cash available. If YTG runs out for sure under the pollution act more money will be forthcoming from Ottawa. Why YTG wanted control was a question. We'll see.
"Maybe the YTG Justice Minister wasn't kidding when she previously stated they have no intention of putting VG out of business."
Good question who knows what was discussed behind closed doors. Bet the $50m made available PWC was already in place. If the mine does reopen I wold think that FN would have a partnership profit type aggreement in place. The profits would go to pay for all costs and outstanding debts to all creditors plus monies to FN.
Shareholders, I'm not clear on, but of they remain listed the shares could come back? Probably a very long shot? But who knows stranger tihngs have happened.
HoneyBadger77 wrote: Interesting...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