Maybe they could do a 1:5 reverse split.
Then arrange to hire a Contract Miner with expertise in FracSand after determining the FracSand can be mined profitably. What was the estimated cost of the FracSand Plant and Facilities Anyone remember?
The cost of removing the entire pit overburden could be lowered by initially removing just enough overburden from the FracSand surface to allow for initial production of ~1.1 million tonne of FracSand annually for each of the first two years. Then they can continue removing overburden and keep ground water from entering the mining area while mining the FracSand over the ensuing years. If Nickel were to later increase in price, they would have a reasonable part of the overburden removed to announce Nickel Mining. The downside is, they would lose some of the initial FracSand byproduct credits. The upside it could well be a nicely profitable FracSand operation, even on 80 to 100 million shares outstanding.
I can Imagine the procedure as such
Finding a reliable FracSand Contract Miner and establish the cost required for mining.
Doing a 1 on 5 reverse split
Financing the FracPlant CAPEX
Adding the extra costs of limited overburden removal
Cost of keeping water from the Muskeg area from interfering with FracSand Mining
If the above was found to be profitable, it could enhance Victory's chances to continue toward Nickel production.