Victoria Gold Corp VITFF

Not Looking Good!

[givemeabreak1]

How long can they survive if they are shut down?  According to some who know more than I they will not be producing the rest of this year???  " Prior to the heap leach facility failure at Victoria Gold’s Eagle mine, Osisko was tracking well with regard to its previously published 2024 GEO delivery guidance range of 82,000 - 92,000 GEOs. However, under our assumption that production at Eagle will remain suspended through to the end of 2024,"

[BigJake]

Your concerns are very valid. Time is clearly the enemy here, no matter what the results of the investigations turn out to be.

[Routan]

Not sure how this affects VG. Osisko will eventually get their royalty payments with a restart. Gold is still there so just delayed.

[givemeabreak1]

Routan As I recall Osisko wrote down their investment in Victoria Eagle to Zero, nada, zilch.  That does not bode well!   From Osisko's Financials Net loss of $21.1 million, $0.11 per basic share (net earnings of $18.0 million, $0.10 per basic share in Q2 2023), as a result of a non-cash impairment loss of $67.8 million on the Eagle gold royalty, representing 100% of the

[Routan]

I agree with you. The write down justs gets the bad news for them out of the way. It is also an opportunistic way to reduce taxes for Osiko at no cost.  So I think we can not read into this move as being any more bearish than it already is. If they eventually goes back in production they will use it as good news.