Post by
Oregonduck on Aug 14, 2024 12:33pm
I had predicted VGCX going to zero
I posted on CEO chat room under "Santa71" avatar 2 days ago:
I think the stock is going to zero. I predict the consortium of banks owing $200 million will apply to the courts for appt of a receiver under their General Security Agreement and/or petition the Co. into bankruptcy proceedings under the Bankruptcy and Insolvency Act. The banks, FNNND and the territorial Yukon Govt want VGCX out of operations. The receiver will likely try to sell the mine after remediation to another concern. That may take years. One ominous sign is Osisko Gold Royalties writing off their 5 percent royalties or up to $67 million in gold production plus 3 percent perpetual royalties. The stock is currently valued at or below cash. No mkt value for the gold mine.