Victoria Gold Corp T.VGCX

Massive Damage shown on TV: National News program

[deepoil0808]

I was watching the National news program when the landslide news came on.   I had contemplated establishing a long position but this is out of question after watching the news and seeing damage with my own eyes.

The hill on which the heat leach pad is situated collapsed on itself under its weight triggering a landslide of epic proportions.

It was like watching a moutain collapse on itself or like when you demolish a building.

One thing is for sure, they will not be able to use that hill anymore.   The cleanup costs are going to be ENORMOUS and it will take a year to do so.  One employee spoke and said company laid him off for 13 weeks however he said that he is looking for a new job cause damage was so great that it would take a miracle for anything to happen in 13 weeks.

They are doing environmental testing for water and land.    Even if the spill was contained, it will do nothing to re-establish the Heap Leach pad on this hill.    It will take hundreds of millions of dollars for clean up and for rebuilding everything in a new area, getting permits, etc...

They showed that the Indians were furious over this latest report and were yelling at the environmental people that these types of mining practices are dangerous and threatened their livehood, their land and water. 

One engineer was there and was showing why this method is to be outlawed.   

There was discussions that the company may not have the money for the cleanup, for lawsuits and for damage to environment. 

It is a very sad situation.   

Upon watching the video as to how the Hill collapsed upon itself and triggered a lawsuit, I would personally outlaw this method and force the company to use conventional ways of processing the gold.  It will be more expensive and is possible that the economics are not there.

This will not be resolved before a very long time and at a very great cost. 

Good Luck to Everyone,

PS:  You can watch the video yourselves.   It is the THE NATIONAL and it aired last night June 28th at 10pm and 11pm.   I am sure you will find it and when you see the damage, you will understand that it is like a volcano eurupting. 

[crazytimes]

I think that video they showed might of been the collapse in Turkey. They were showing it as an example. That didn't look like Eagle to me and they started talking about the collapse in Turkey right before they showed the video. Just my opinion. 

[Bubula50]

 I agree. I've yet to see the landslide itself ' recorded. Maybe Deepo is shorting 

[deepoil0808]

No shorting is required as I do not make money on the misery of others. This company will collapse as the permit will be revoked as a start, then costs to clean up both site, water and land, then lawsuits from investors, then fine from government + pressure from creditors who are owed money some $300 million versus $ 55 million in the bank. Only hope for this company is to sell the asset to a

[Singoa58]

I think bankruptcy is probably best option here...  its massive indeed... i doubt a major will step because it's unknown the extent of environmental damage but its huge ...I suspect will test 1.00 support this week

[webminingdude]

Ultimate liability sits with the government. the government discussion panels and recommendations put the heap leach pad on that hill, the government approved it all. That is a major fact no one is talking about. 

[nincompoop]

This has turned into a battle between those who see the sad reality, and those who are suffering from cognitive dissonance. I have held Victoria shares since they were trading at 11cents, in 2013. Unfortunately I believed the hype and bought at much higher prices later.This trade has been a story of inflated promises against poor performance. I seriously considered selling up earlier this year