Victoria Gold Corp VITFF

The stock will be delisted

[Oregonduck]

The stock will stay halted for weeks and subsequently delisted. The Exchange will cease trading and remove any issuers under Receivership or Bankruptcy proceedings from reopening. The US Pink sheet (symbol VITFF) might allow some trading at sub-penny level. Those unfortunate shareholders could try to get their broker dealers to buy them for 1 penny or get them to take the stock off their accounts, confirming total loss in order to claim tax writeoffs. It is too bad. 

[Singoa58]

Move to pinksheets.... sorry for those who didnt sell happy though for the indigenous community 

[Routan]

Until they go into bankruptcy protection they will trade. I am sure the companies would not mind a halt staying on their shares until they have done a financing first. A company cannot just file for bankruptcy unless they have attempted every avenue to raise funds or sell the company. This action by YGT is going nowhere. The creditors are the owners. Ygt has a 100mil bond. Have you ever seen a

[SWHusky]

That's what I thought and I was struggling with it.  Then I thought unless YTG is the creditor?  I think the details of the application should be made public In the meantime.... Why is YTG/DFO/EMR/FN focused on the perished Sculpin and Arctic Greyling when in fact both The Yukon and Alaska have a far greater issue that Haggart Creek and VG? VG needs to be allowed ot clean this up

[BullionGirl]

Wow!  I guess this means that Banyan as well other Yukon mining companies are dead in the water!

[BullionGirl]

No pun was intended!

[SWHusky]

Non Taken

[Singoa58]

If not dead the remaining miners will see their share price cut in half or more 

[Sooner]

And she has spoken. U should be a billionaire very very soon based upon shorting all Yukon miners. You're soooo confident...mortgage the house max the credit cards leverage 100:1 and you will be Elon Musk in no time.   

[marketsense]

Its really a terrible tradgedy for everyone.  No one wins here.  This is the second type of disaster to hit Cdn miners.  In both cases there was a breach of a suposedly well contained toxic pond/pad designed by capable engineers.   The stench from this type of failure will have consequences for all miners in NA who use this type of design. I don't have any answers,  

[SWHusky]

The real immediate fallout for the Yukon will the be the Casino and Coffee HLP designs which will never see the light of day. imo

[HoneyBadger77]

VG gold didn't just go and build this mine on their own without years of tedious process that involved YTG and FNs every step of the way, that included jumping through many hoops and a multitude of reviews and legislative requirements to eventually get approvals from none other than the Yukon Government and FN's.  Getting a mine built and in production in this country is so rare it

[mdjbrown]

HB77, thats the interesting part here as one would assume VG hired third party unbiased engineers to guide them through this process the right way, and YTG shuts them down before the root cause of the slide can be determined.  This is far from over once VG, YTG, FNNNs third party advisors start duking it out as to the best and safest way to get this slide cleaned up so the damage to the

[SWHusky]

jbrown, exactly.  YTG was so quick on the trigger it is unbelievable.  I still want to see the wording of the request to appoint a receiver. Now there are two separate requests one by FN in The Yukon, one by YTG in Ontario.  It's possible the  Umbrella Agreement will be reviewed to see if the agreement is being stepped on. imo

[SWHusky]

Umbrella url=https://www.rcaanc-cirnac.gc.ca/eng/1297278586814/1542811130481]https://www.rcaanc-cirnac.gc.ca/eng/1297278586814/1542811130481[/url] CBA https://vgcx.com/site/assets/files/6696/cba_snapshot_2018_condensed.pdf

[givemeabreak1]

Brownie The decision to shut them down and finding the route cause of the failure are two different issues and for those that do not understand the difference probably should not be investing in mining stocks or any stocks for that matter outside an ETF or Mutual Fund.

[mdjbrown]

Not if YTG backed their decisions until they didnt givemeabreak. YTG is painting themselves in a bit of a corner from where I see it. Time will tell but VG may as well start pouring as much gold as they can if they are being pushed out the door..............  Why would they commit one more penny towards clean up operations if YTG is taking over?

[Zibo510]

MDJ, you should re-read the last NR, VG management is out, effective immediately Pricewaterhouse are now in charge of the company. VG is finished and stock will be delisted, it's over. the Ontario Superior Court of Justice (Commercial List) has granted an order appointing PricewaterhouseCoopers Inc. as the receiver and manager of Victoria Gold Corp. 

[givemeabreak1]

Brownie You just do not get it YTG is not taking over but merely the one of many that could have forced VG into receivership. They just happened to be the one that pulled the trigger first.  You do this to preserve value not destroy value.  

[Routan]

Unless I am missing something this action is fishy. The corporation is registered in the Yukon and the application is for an Ontario Court?  the Company was served with an application by the Yukon Government (the “Application”) seeking, among other things, the appointment of a receiver over the Company and its property and related relief pursuant to the Courts of Justice Act 

[SWHusky]

routan, It appears every one is just lashing out? It appears to be a tag team effort? https://stockhouse.com/companies/bullboard?symbol=t.vgcx&postid=36179046 If this carries on will the last person leaving turn out the lights?

[Routan]

Your right. Sadly even if VG wins against the application they lose. Tanking the stock price to achieve their goals. Having VG waste resources fighting court cases and not fixing anything.

[SWHusky]

"“The application we filed calls for a third party to be appointed as receiver to take over management of the company and ensure the necessary steps are undertaken to contain and remediate the millions of litres of cyanide and other contaminants that are being released into the environment,” the First Nation said." "“It is incumbent on the Yukon Government to explain why they have