GREY:VITFF - Post by User
Post by
KenoHillYTon Oct 29, 2024 10:16am
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Post# 36286641
Nowadays everything, anyone can get sued for anything :)
Nowadays everything, anyone can get sued for anything :)
Seems to be some confusion of thoughts here that people think the current topic here is about shareholders magically getting their investment back and made whole via a share price increase by the wave of a magical wand, and poof VG is back on the TSX.
No one is dreaming that dream. Sorry the feel good fairy left the building the day that the "loss of containment" happened
No one that I talk to expects VG to rise from the ashes to its former glory.
Why now the bad mouthing of VG, are there investors who actually thought VG wasn't a hopefull incubator. It's was/is a junior miner and for sure there where VG investors gambling that as gold rose a major (pick your fav.) would shower them with money and your 50k would be like what 5m?
In fact as I write this there are dozens (if not hundreds) of hopefull Yukon juniors still out there trying to figure out how to get the next wave of cash from your tight fists. lol
Why do I use VG as an example (I could easily pick Coffee or Casino or...). Simple they haven't failed yet, they are busy drilling holes and grabbing your cash. lol
Right now it's about the failure of the “engineered” heap and so far there has been no evidence of "behavior unbecoming" by the C-suite or BoD.
If there was that would have been like front page news in the frst 24 hrs. Bad news travels fast. I would be shocked if the "independent hearing" supports any of the probable bar talk suspecting people pokin holes in the toe or blaming FN for doing things to "protect the land and fish".
Yes there were heap issues and as far as the issues goes they were either fixed, being worked on or being remediated with consultants and engineers signing off. Nowhere was/is there an FU by VG management to these inspections, etc.
Look at Minto and you may see where this is heading.
If at all possible PWC will try to find a buyer; if not VG Eagle is like a big financial liability. The idea of a receiver is to grab everything and be as quick as possible, it's "normal".
PWC is lucky that the camp consists of trailers and not Pan-Abodes. Lol Those suckers would have been dismantled and dragged off to other claims by enterprising individuals in the first weeks. :)
As a side thought, maybe the Selkirk FN play is to hover around, wait and buy the equipment for Minto, now wouldn't that be something? One mine under receivership for pollution and killing fish, the other opening up. Imagine that. :)
It'll be UKHM - AXU - HL all over again (with a positive environmental spin) with a nice fat injection of Federal Funds.
PWC will take what it can get from the Eagle sale (a fire sale if required) of the assets, the cash sweep and gold bars was just convenient.
PWC’s job is to listen to VG and satisfy whoever is paying the bills
That said there is no reason that a lawsuit cannot go forward on behalf of any and all involved parties, at this point it's not about the VG Shares, it's about the fact that VG had not declared bankruptcy and in fact wanted and was trying to make the mine whole. Everyone can get sued in todays environment for just about anything at all. And maybe this is where it’s headed. lol
We’ll see