Victoria Gold Corp VITFF

The other side of the VG saga

[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

First I don't want VG (Eagle) shut down right now and/or in any form of legal wrangling.  It would create more mayhem than it would correct.

The team at Eagle is working in challenging conditions, not just mouse clicking,  (with the current status quo) not to remediate and repair, not their problem.  They are there to contain the "pregnant solution" and "stabilize" the environment in the best they can with no accidents.

Everything else will come later.  Will the mine be operational like on Monday... sure send me the plan. Or just look at the Turkey disaster with SSR see how fast tha't progressing.

Will VG go into bankrupcy proceeding who know's .  Speculate on that and the stock all you gamblers want.  Don't care.

You want to play with fire, no issue here.

For all anyone knows JM and group woke up this morning from a strategy retreat or woke up after sleeping on the boardroom tables hugging and cryin after a hard days night.  And said ppl  (or legal) announce the immediate cessation of all activity and we resign, untill that instant in time it is still a co.

Maybe they will annouce a done deal for 250m$ cash injection on Monday morning no one knows but it's happened before. 

Any one of the current investors have the juice to just do it.  Depends if they see value in what's left and assurances they will be allowed to proceed.  Polluted mining areas even today are operating mining companies in The Yukon.

I am not sure how any government (fed or territorial)  in the free world can just waltze in with no cause and say "Pack your sht and leave",  why would they want to do that right now. 

National Security maybe.

https://www.msn.com/en-ca/news/canada/two-b-c-companies-ordered-to-cease-all-operations-over-national-security-concerns/ar-BB1n19ps

There's possibly other reasons that relate to things like this:

https://money.usnews.com/investing/articles/biggest-corporate-frauds-in-history

But in the case of VG it seems no one has poven them legally of the stuff like above.. There have been and are  the accolades of "innovative financing" and so forth that should have been the clue to investors of the very very high risk.  Sorry but it's true. 

I have been and am invested in the Yukon and I will pull any play on the first wiff of stink or books that show to many warning signals or repeated issuance of new stock  Maybe I'm paranoid, whatever.

That said no one saw this coming. 

This was an accident unless someone can up with and show proof that illegal activity was the one and only root cause of the HLP loss of containment and that managment, YTG, EMR, First Nations, Engineers and so forth knew of it and just merrily skipped on their way making taking wads cash. 

It's like news reporting that druggies where on site with the sort of thought that they may have operating machinery while making it sound like D10's might have been playing bumper cars on the HLP (collisions).

The reporting on this entire situation has been like bizzare with major screaming healines.   What's next magazines at the checkouts.

I have not seen any documents that VG is going to be sued for illegal activity by Managment, Owners or BoD.

There's still VG cash to burn, if operations cease right now it immediately burden the taxpayer with everything.  So on top of all the lost jobs, revenue, income to the territory, will the territory want to like what take on more immediate debt.

There are players afoot with their own agendas none of it to the benefit of current retail shareholders.  It's all about getting the moni out and passin out the cryin buckets.

Best

[HoneyBadger77]

Clearly VG has proven that the Eagle mine is / was profitable and that was when the price of gold was no where near $2400 to $2500 an ounce.  Things seemed to be on track until 2022 where production and earnings dipped.  I believe this was due to VG attempting to stack ore 'fines' on the pad in attempt to increase annual production by around 20,000 ounces a year.  The

[HoneyBadger77]

Well so much for the RBC chart that didn't post, it showed VG prior annual earnings in CAD$ from 2020 to 2023: 2020 - $1.30 2021 - $1.96 2022 - $0.54 2023 - $0.38 2024 - $0.84 (Est, I assume before the slide or they're expected to have a h_ll of a second quarter). Major capital expenditures dragged down profit in 2022 and 2023.   2024 was expected to be the turn around year

[OCB1234]

No Gold Production = No Cash = Bankruptcy

[HoneyBadger77]

Or how about this OCB1234: : NO GOLD PRODUCTION (Temporarily) = NO CASH (Until Bridge Financing in Place or Company Restructures) = NO BANKRUPTCY (Because environmental impact is mitigated and an investigation into the cause of the slide proves the slide was an engineering design flaw and the slide event was inevitable and merely a matter of time.  That EMR should have halted Eagle operations

[OCB1234]

Good luck, HB, I hope it works out for you!   

[HuskySW]

Alternatively lol Imo NGP -  Burn Cash - Receivership - Buyerfound - Brokers Raise Cash - SH's buy in -  Stock goes way up- Market makes moni-sh's hang on and on and on - management,  traders, gov make tons of cash -become life style company tll its not -sh's start cryin. Best Ps get in at begining, cash on rise, get out, dont look back. Dont forget the Zall's

[Stratocheif]

 I think procedural as well as substantive law would play a big role here should VG stay on but be requested to foot the bill for the cleanup.....whether they have the money or they will raise it don't matter   The end of the day does. If a gm car malfunctions and kills someone due to faulty steering, it's gm that gets sued not the company that made the steering parts. There was

[HuskySW]

Hi Badger, eeek! Long read. :) IMO only I hear you but by the time this clears the bench and the technical issue are completed to make whole, the mine will have moved on. The mine may come back but I believe based  on even the recent SSR event in Turkey we are looking at way over a year, maybe 2-3 or more. Even if  Angels step in the amount of shear  paperwork processing (and

[mdjbrown]

HB77, I think you will find you are very close in your thoughts as to the whys and whats that caused this mining accident and who was "responsible" for the eventual slide, and I believe the who will be combination of players. For those who dont appear to fully understand the concept here, lets not forget this HLP is 100% man made including the massive amount of material that shifted

[nincompoop]

If you look at the before and after photos, you will see that even though 'only' 4 million tons left the pad, it's plain to see that almost all of the ore across the full width and length of the pad moved considerably, that's probably 10's of millions of tons moving across the liner. I realize the dozer theory is favoured by you and HB, but an ant moving across a sand dune

[Zibo510]

I can't understand why all this time and effort is being spent on "The Dozer did it " and other theories as to the cause of the slide.  The fact is the slide happened and fact VG is on life support and without a financial bailout the plug will be pulled.  The autopsy will determine cause of death, won't help a dead patient though. 

[mdjbrown]

Zibo, do you know what the corporations insurance liability policy covers in the event of an Eagle mining incident? No one is just walking away from this accident as it is not in anyones best interests to do so, and it is very possible the entire remediation cost can be covered by the bond on file with the government, until the other monetary issues are dealt with. VG has all the equipment on

[Holdrrrr]

Some of the news headlines are completely sensational and absurd, I agree.  Like the other day I read a headline  "Disastrous salmon run at Yukon mine accident!!".  Or something to that effect. I opened the article, and it says "previous years the salmon have had bad spawning runs.  But....we don't know if Victoria's accident will ever have an impact