Victoria Gold Corp VITFF

RE: Mount Polley

[BSdetector2016]

That one seems like yesterday but it was 10 years ago! The tailings dam failed on August 14th, 2014 and a torrent of water and tailings ended-up in a Polley Lake. Imperial stock was ~$16.80 prior, and dropped almost 50% in the month following the event. By April 2016 it was $4 and some loose change. In 2018 it bottomed-out at ~$1.10. It took an extreme beating and copper price did not help. They sold assets to stay alive. Those who sold in the days following the event, or during the dead-cat bounce, did a lot better than the folks who had faith and held.

[RatPatrol]

I see a couple of differences between Imperial Metals' Mount Polley situation and this one. 1) Tailings dams are manmade structures; this may - and I emphasize MAY - be naturally caused. Big difference in terms of insurance, liability, etc. 2) In order to pay for damages, Imperial sold 70% of its highly - valued Red Chris deposit to Newcrest. Newcrest had the mining experience (block caving)