Victoria Gold Corp VITFF

Interesting comment from todays briefing:

[mdjbrown]

“Victoria Gold has started recirculating contaminated water back onto the heap, Streicker said.” 

https://www.cbc.ca/news/canada/north/yukon-government-ready-to-step-in-victoria-gold-1.7268110

If the HLP liner was leaking or torn as earlier speculated, it is very unlikely the Yukon government EMR would allow them to do this….

[Routan]

Yeah, I caught that. Not clear how. They were talking about how the water treatment could not work fast enough. Is it possible they are pumping from the control pond. You would have to assume they are hoping the leach pad absorbs some of the cyanide reducing contaminates going to the event pond from any rain. Pond levels are rising. 

[OCB1234]

My guess is the YGT will have VG spend the rest of their cash cleaning up the mess and then they will be cut loose. 

[Zibo510]

Probably going to use the 104m bond now and government take control, sounds like the scope of dealing with this disaster is beyond VG'S technical and financial capability.

[Routan]

Nah I think you are wrong. Only minor damage. Cyanide easy clean up. This is only 2% solution becomes  non toxic in days. You are not understanding the science. It is only the initial spill which could cause minor damage in a worst case. Cmon do you really think they would alllow leaching at all if it wasn't very safe in diluted form. The danger here is not enviromental. Its rocks falling

[Singoa58]

Exactly what will happen  it's toast 

[crazytimes]

mdj....possibly or possibly if there is no where else to put it, minds well put it back there vs. the alternative for now. Since the cyanide should be degrading it might be helpful rather than letting it all run off. It might be like pumping between two leaky buckets to keep some containment if other options are full or not available.  as for it being speculation that the liner was damaged...

[mdjbrown]

I hear ya crazy.  Is it possible the liner damage mentioned occured at the crest of the HLP where the dozer slid and the liner in the sump area is still intact? I can't for a second imagine the environment agencies on site would agree or allow contaminated solution to be pumped back into a known damaged and leaking HLP and then that contamination be allowed to leach back out into the

[crazytimes]

mdj... What you are saying may very well be the case, and makes sense under normal circumstance and may be correct. However, if the alternative that you can't imagine happening is happening, what would be the alternative to that under the unimagined situation? lol. Where else would you put it if everything else was full? And wouldn't a leaky tub be better than just letting it run? At least

[mdjbrown]

crazy, if this was the environmental concern it is being made out to be, there should be a line of Vac trucks transfering the contaminated solution. My other thought is that those big excavators on site could be used to dig a massive pond to be double / triple lined, and solution storage would not be a concern. The fact that the government seems to be ok with transfering overflow to the HLP is

[Routan]

Hopefully you are rght. I will say that is the only place it could have been damaged. It was the top ore that slid.

[saddlerack]

I can't quite understand that.  My thought is that the heap is not stable and adding more liquid to it seems foolhardy.  It sounds to me like the company is scrambling trying to comply with all of these outside eyes and experts, and coming up with pie in the sky options.  The more I learn, the more I'm convinced that Victoria Gold is out of it's league and doesn't

[mdjbrown]

saddle. I dont think the HLP base area is unstable, so adding solution shouldnt affect the upper overhang to much. Interesting that most HLPs are built like a dish with a heap of material contained within that bowl. This particular HLP is a a dish with a mountain of loose material stacked above that dish. Not sure the slide giving way was factored into the mine design, as this still had 2 more

[saddlerack]

I really hope that you are correct.  An explanation from VG management with their view of the situation and what they are doing would be useful.  I sense that even the government people are frustrated with their silence.

[mdjbrown]

agree 100% saddlerack, as a status report from the corporation regarding the embankment, HLP liner damage location, gold room, pumping station, etc would give shareholders a better indication of how far away they are from producing gold from the remaining pregnant solution still in the sump system following the slide.   That gold didnt just evaporate into thin air. In fact it has likely

[Swingandmiss]

The government people are frustrated with their silence?? Imagine how the retail investors have felt for the last 5 years. Welcome to the party, PAL. (That was intended for the government)

[mdjbrown]

Unfortunately Swing, VG is not alone in the need to know information highway to shareholders, as it is the norm with most publicly traded corporations and in their eyes shareholders dont need to know!

[Swingandmiss]

Mdj, may I ask how long you have been invested in VG? Reason I ask is that almost all of the people who spent years believing in this company and always saw the silver lining in every crappy production number or earnings report, are now so bitter that you almost root for JM and this terribly run company to go away. I struggle with those feelings but don't want the remaining investors to lose

[Singoa58]

Never fall in love with a stock... going forward be aware of investing in a company that only has one asset.. No onr should of had more than 3-4% of portfolio in 1 stock  but from reading posts i see thats not the case as some have gone all in and lost everything 

[mdjbrown]

Hi Swiss, sorry for the delay in response as I had to stepout for a few hours. I was in and out of VG a few times a couple years ago, but saw the slide news and popped back to see what was happening with the Eagle. It is heartbreaking to see all the longs here who took a big loss with the slide news, and just as disgusting to see all the trolls who showed up who seem to get some sort of cheap

[HuskySW]

Hi jbrown, Thank you Everything here is just my opinion and and for entertaiment. The first and third paragraghs carries my sentments exactly.  Sorry to longs... Paragragh four yup but the "milking" at  higher rates will continue untill the coffers are DRY. I' personally have seen these types of billings that cover disasters and it is what it is.  The bill just

[OCB1234]

"I still believe there is a chance here,...." mdj - A chance at what? Where's the cash flow?

[Stratocheif]

I sold out my VG  stock at $1.07 so I'm not in it any more. But I come on this board to revisit the scene of the crime so to speak and talk to some of the people. Me too my heart goes put to those with huge losses. I only lost about $7k on this one so not that big a pain. But I've lost tens of thousands on other mines like AR , ALEXCO, GO, WALLBRIDGE and so on as  per my post

[HuskySW]

Strato, Sorry for the bad investment in AXU.  CN was a master promoter.  I was there.  I don't know JM well but it sounds like he was too with his "innovative financing".  That said the current situation is the result of an accident. There were about a dozen "promoters" on the AXU board  that just dissapeared when the AXU/HL alliance was made and

[Stratocheif]

AXU was heavily promoted as one of the best silver stories out there....over a kilo of silver per ton, and the mine in full construction mode to start delivering in a matter of months.. I bought in early and wasn't paying a lot of attention later. In fact I didn't hear about CNs inability to get financing until the deal was struck with HL. (And why was he unable to get financing to

[Stratocheif]

I'm sure that's why we hear nothing from JM. He doesn't give a ____ about shareholders, employees, pollution or anything else. If he did, he'd be in the media EVERY DAY showing his commitment and support to the aforementioned. Just like George Bush the day after 911, or the CEO  of BP (don't remember his name)  after the Guff oil blowout disaster in 2009.  No

[HuskySW]

"material would have wiped out the camp area as well." Absoulutely right.  From the day of the slide I was sick when I saw that.  The designers need to think about NEVER placing camps below what are temp structures (for LoM) such as berms with material that might move in them.  This story would be have been unimaginable had the camp been burried.  It is so fortunate

[crazytimes]

Husky.... I totally agree and thought the same thing. Could of been a total nightmare of crazy proportions! For sure that it didn't bury the camp is the one shining bright side of this whole mess and it is really the most important! I personally don't understand why it was ever okay to place the camp there? Just my opinion. 

[HuskySW]

This is all for entertainment only, has no real  basis, and does not reflect on anyones reality. It does not comment on any real events or people or refer to anyone now in existance or passed.  No opinion is presented or implied. So for your entertainment and amusement only jbrown, Your right except I suspect the recovery, stabilization, cleanup crew and consultants had their backs

[mdjbrown]

Husky, with all of these new boots on the ground brought in from the FNNNN and the Yukon Government, you can bet your last dollar they are there to sell their expertise. Take this fellow Farzad Mohamm for instance that made the statement Every minute matters   https://www.cbc.ca/news/canada/north/victoria-gold-mine-experts-1.7264503 What is not reported is he is with a company that

[HuskySW]

jbrown yeah I ran a background on him too, the day he pooped up. 100% correct. PS.  If you run backgrounds on some of the most vocal "consultants", it's easy to see it's about the cash.  What is always interesting is to see the different "slants" depending on who's paying them. Best

[mdjbrown]

Unfortunately Husky, everyone is in it to make a buck, instead of actually addressing the issue at hand. Even some of Yukon Government and FNNN consultants are over reaching with their comments in my opinion, and their wild claims of doom and gloom confuse the casual observer. Easy to forget, but the Eagle mine site was regularly inspected by government officials, and its no wonder the folks at

[HuskySW]

Thank you, I couldn't have expressed it  better myself. "Easy to forget, but the Eagle mine site was regularly inspected by government officials, and its no wonder the folks at VG are tight lipped as every statement they do make is overshadowed by these critics who forecast the Yukon is going to fall off the planet into a dark abyss." The mine was also inspected by

[nincompoop]

So professionals are the ones to trust?. .like the 'professionals' in the US secret service there to protect Trump. I'm afraid a lifetime of experience in business dealing with 'professionals' you quickly realise a significant number would struggle to find there own a** without a mirror.

[Singoa58]

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