Victoria Gold Corp VITFF

New Press Release - Victoria Gold: Eagle Gold Mine Heap Leach Pad Incident

WHITEHORSE, Yukon, June 24, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) announces that, this morning, the heap leach pad (“HLP”) at the Eagle Gold Mine in Yukon experienced a failure. Operations are temporarily suspended while the site operations team...read article.

[kegman]

Halt will be long.  I can't believe I bought back in.  They guys are incompetent and cursed.  I can just imagine the calls to lawyers right now.  Insurance officials are probably getting ready to go there and access damage.  Best case scenario is this is completely covered ;less a waiting period.  Loan payments will have to be covered from the loss of revenue

[fasttrack5]

I actually sold my last 1000 shares at around the $20 mark years ago now. This is certainly not good for Victoria Gold short term, however possibly a great buy at this level:) just sayin

[Stratocheif]

These gold miners are starting to ____ me off. A few months ago I lost big time on the SSR failure. And now this.  I remember Kevin O'Leary once saying he would never touch a mining stock. I think he's right. It seems the IQ  of people who operate mines is BELOW AVERAGE.

[StuntCoq]

I wish I was so lucky. I should have sold when they got  greedy and blocked Coeur. I was holding out hope this would be their year. I just finished a course on this very thing and this is is extremely preventable and inspections and slope monitoring would show problems well in advance. So either someone was incompetent or people in charge chose to take a risk and lost, either way I'll be

[Swingandmiss]

I read on another board that there were multiple earthquakes yesterday and today, and multiple landslides at the mine. The quakes were not big, but maybe enough to make the ground unstable. This could just have been an act of God. Either way, the result is the same. 

[Stratocheif]

The lawyers love this kind of thing. They launch a class action. Then 4 or 5 years later, if they succeed and get maybe 100 million settlement, they pocket 75 million as thier "fees"  and distribute the other 25 million to the millions of shareholders. So you'll get a cheque in the mail for 3 dollars if ur lucky.

[givemeabreak1]

Strato If it is a major failure costs will be in the 100's of millions of dollars.  You have property and mill damage.  You have production interuption.  Finally and most expensive is the environmental affect.  

[iamthekingofme]

no mill damage... just the feed line, sump, miles of piping and a sq km or two of liner and massive earthworks - maybe run the conveyor line down to the new bottom and start stacking  ;)