Victoria Gold (TSX: VGCX)
The company has been placed into receivership after the Yukon government were granted an application by an Ontario court.
The government are said to have lost faith in the mine’s management after the catastrophic heap leach failure on the 24th June.
.
.
Comment
I have been predicting this from the start. It was so obvious the company were not in a position to remediate this disaster and resume mining without a massive injection of capital that was never going to come given the uncertainty as to whether the First Nations and Yukon government would allow mining to resume.
I could not understand why investors continued to buy the shares, particularly when their lenders recently eclared a default of $250 million worth of loans.
The writing has been on the wall for some time and now it has come to pass just as I predicted.
I commisserate with anyone that has suffered a loss here, but there was ample opportunity to exit betweem the disaster and today.
The shares are halted and I predict an imminent delisting.
.
Victoria Gold Placed Into Receivership
.
The company has been placed into receivership after the Yukon government were granted an application by an Ontario court.
The government are said to have lost faith in the mine’s management after the catastrophic heap leach failure on the 24th June.
A link to the press article can be found here
.
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.