Victoria Gold Corp VITFF

Why I'm a buyer.

[stripedtailed]

1) I forecast MUCH MUCH higher gold prices
2) I'm a long term investor. Retired Pro. 
3) I buy when there's blood in the streets
4) I like Asymmetric bets. Minimal portfolio downside even if it went Bankrupt. 
5) It's really cheap esp if you believe in the GOLD future story. End of Fiat.
6) I keep it as a small position. No emotion involved. 
7) I like some of the people involved. 
8) I'm betting clean-up will go faster than expected.

[nincompoop]

Point 1, agree completely. Point 2, that's good, experience. Point 3, can be a highly profitable trade, though often a complete wipe out. Point 4, Don't quite understand the 'minimal downside risk'...if you lose your whole stake. Point 5, It's really cheap...for a very good reason, a catastrophic failure, no income, huge costs, and huge debt. Point 6, Fair enough if it's a

[60PlusWhoCares]

stay away from this company for 1 year...you could be surprised of what will happen next...

[steve55]

we were supposed to get news yesterday.

[Boreas7]

I think we should get news when they're ready. This is a very complex situation.

[steve55]

are the shorts covering up?

[EdwardBlake]

I suspect most of the paniic sellling is done. The shorts will likely run algos to keep the price sub 1$ and quietly cover.

[steve55]

have you noticed that Eric ''Sprott'' and associates have disapeared?

[EdwardBlake]

I had that bozo muted. It's hard to sift valid concerns from troll shorts.

[baranja]

Interesting. I would assume they will have to redo it's heap leach system from scratch. How long does it take?

[mdjbrown]

baranja, there are rumors circulating that the stacks were piled far to high for the pad design, and as a result gravitational forces caused the heap leach material to slide right over the containment berm. If that is in fact the case, there will likely be minimal infrastructure damage to thecontainment berm, but a heck of a mess to clean up, and a lot of questions for the operator to answer

[Zibo510]

If it is determined that overloading the pad beyond technical specifications, that would make VG 100% liable for all damages caused by this negligence.  Not a good position to be in when you're being sued. 

[EdwardBlake]

If this is true it does not augur well for an insurance claim.

[Zibo510]

I doubt negligence and incompetence is covered by insurance 

[mdjbrown]

It is all 100% speculation at this point, and until the authoritive powers that be confirm the cause, rumours will continue.  Was it mechanical error, human error, did the radial stacker get dialed up by accident. did the dozer at the peak of the leach pad have any effect? All of this will take time to sift through, but insurance is in place to protect from human / mechanical error, and the

[crazytimes]

Mdj... I agree. Those water samples coming back clean would be a great first step forward!  Just my opinion. 

[crazytimes]

If there is any truth to this rumor, which I have only heard here, lol, if it is simply a mistake, and not a design flaw I would actually take that as a positive. That would mean that the pad can be repaired/rebuilt and reused without any redesign but obviously better supervision, oversight and controls in place. Clear path forward that can probably be solved quickly with $100 mill which I think

[mdjbrown]

crazytimes, the engineers report that was to be completed by July 1, should offer some critical incite. I would assume if the cyanide solution was contained within the designed safety containment zone, and the environmental authorities are completely satisfied there is no danger to watersheds as a result of this slide, then the next step in the process can begin which I assume would be clean up

[crazytimes]

mdj... totally agree. From all the photos, maps, info etc. i could find,  I am definitely leaning 80/20 to the water coming back clear! Def have my fingers crossed though. lol. Just my opinoin. . 

[baranja]

That's what I thought. Basically, the question now is what happened with cyanide, did it go in to rivers and underground.  Definatelly it is their  fk up.  Somebody will need to get fired for this.