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Bullboard - Stock Discussion Forum Victoria Gold Corp VITFF

Victoria Gold Corp. is a gold mining company. The Company’s flagship asset is its 100% owned Dublin Gulch property, which hosts the Eagle, Olive and Raven gold deposits along with numerous targets along the Potato Hills Trend including Nugget, Lynx and Rex Peso. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers (km) north of the capital city of Whitehorse. The... see more

GREY:VITFF - Post Discussion

Victoria Gold Corp > Currently VG is still spending money on remediation
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Post by HuskySW on Jul 20, 2024 10:49am

Currently VG is still spending money on remediation

What Is Going Concern?

Going concern is an accounting term for a company that has the resources needed to continue operating indefinitely until it provides evidence to the contrary. This term also refers to a company's ability to make enough money to stay afloat or to avoid bankruptcy. If a business is not a going concern, it means it's gone bankrupt and its assets were liquidated. As an example, many dot-coms are no longer going concern companies after the tech bust in the late 1990s.

https://www.investopedia.com/terms/g/goingconcern.asp

Best

Comment by Stratocheif on Jul 20, 2024 11:54am
Yes exactly. So VG is no longer a going concern. No revenue and huge expenses the scope of which is yet to be finalized. The accounting profession is not near sighted. They foresee the consequences of today's numbers on whether it can in fact be a going concern. All indications right now it that VG is not a going concern