Victoria Gold Corp T.VGCX

Corrupt

[Dragunov]

A governement which has $50M readily available to give to an NGO - but none to lift its population out of poverty - is corrupt AF. Quick action is used to overrule thoughtful procedure; media noise is used to suppress inconvenient truth. There is a plot afoot and bribes are involved. Politicians and savages will get kickbacks while workers and suppliers get crumbs. Government is the enemy of the people.

[Freezerburn]

Care to elaborate? I'm really interested in your perspective.

[givemeabreak1]

More stupid talke!  The $50 million is coming from a bond posted by Victoria Gold it is not the governments money to spend the way they wish.  It is being spent for clean up!  While it is a reclamation bond I would guess from a legal perspective it could be deemed reclamation.  Drag there is no need be talking ridiculous.   You might be able to get away with slander

[Dragunov]

This post has been removed in accordance with Community Policy

[rdy2rumble]

This post has been removed in accordance with Community Policy

[HoneyBadger77]

No givemeabreak1, you are wrong.   The $50 million being provided upfront to PWC as mentioned in the court order is NOT coming from the bond posted by Victoria Gold, it IS the YT government's money being fronted to PWC to expedite clean up until the Receiver is in place and can assess and locate all of VG's assets.   Once that is done the Receiver will commence 

[givemeabreak1]

Badger I did not want to get complicated but I guess it is a must!  So when you post a bond the bond money is tied up so any monies needed immediately is fronted by someone against the bond!  So typically what you have in any CCAA or Bankruptsy procedure is what is called DIP financing ie debtor in possession financing.  Any financing done after a receiver is appointed under DIP

[givemeabreak1]

To simplify it for those who are not rocket scientist!  I buy a house have plenty of money but it all sits in GIC's.  The house closes before the GIC's matures so I get immediate bridge financing to cover the short period until the GIC's mature.  In other words fully secured just playing with dates..........So spouting nonsense.

[givemeabreak1]

Note priority charge ie debtor in possession over all secured debt!  Note advance funds in order to get this thing going something the company lacks the funds to do!  Now if the company themselves had of declared under CCAA which they now say was the plan they likely could have received immediate funding from existing secured lendors or others under the debtor in possession clause. 

[HoneyBadger77]

Givemeabreak1, You say:  So when you post a bond the bond money is tied up so any monies needed immediately is fronted by someone against the bond! I say:  True.  According to the YTG Briefing video it was mentioned by the Justice Minister that she believes there are two entities that fronted money for the bond.  And so the bond money is there.  And I believe that