Victoria Gold Corp VITFF

« Since the landslide, mining activities have been suspended

[GoldenPolarBear]

"... Since the landslide, mining activities have been suspended at Eagle. The containment basins for contaminated water are full and water is being recirculated onto the heap leach while storage capacity is increased. 

"So, in simple terms: the water is being recirculated between the ponds and the heap leach facility. Nothing is being circulated for the purposes of recovering gold," a spokesperson for the department of Energy and Mines said in an email. 

Neutralizing cyanide and containing contaminated water 

In his most recent report, the inspector named by the government of the Yukon to be in charge of the Victoria Gold file, Sevn Bohnet, said there are "reasonable grounds" to believe that water management at the Eagle mine violates the Yukon Water Act. 

According to the document, the mine must be able to safely contain 50,000 cubic metres of contaminated water, the equivalent of 20 Olympic pools. To do this, a pond was dug, but it does not meet government standards. 

"The size of the excavated area appears to be significantly less than 50,000 [cubic metres] and in the absence of a liner, any contaminated water deposited in the excavation can potentially infiltrate the granular materials and result in the deposit of waste to groundwater and the downstream environment," Bohnet wrote. https://www.cbc.ca/lite/story/1.7272908

"... Victoria Gold still has not indicated how it will treat the contaminated water. In order to protect groundwater, however, the department of Energy and Mines requires that a series of vertical wells be installed...."
This is going to be costly and time consuming and how will Victoria Gold pay for this when they owe millions... & aren't producing GOLD?

[Stratocheif]

Yes exactly. How many mines have gone bankrupt because they couldnt get thier stuff out of the ground in a cost effective manner?. How many mines have closed because the price of the commodity dropped?  There are many problems that lead to bsnkrupty. But the biggest IMO is something like this. The worst case scenario. NO revenue, rapidly depleting cash (which doesn't even seem enough to

[OCB1234]

Since the landslide, I haven't read anything that has been made public that  gives me reason to believe Victoria Gold is going to survive this. The remaining longs need to get out of this mess asap before VG declares bankruptcy.  NO GOLD PRODUCTION = NO CASH = BANKRUPTCY

[HuskySW]

Yes and the taxpayer will pay n pay n pay. Just take a look at Minto Mine who got to pay after a relatively clean  closure except the c suite n bod bailed. Its like a lifestyle in The Yukon. In my opinion only Best