VanWilder, TCK had something like $8BB of short-term debt from the coal acquisitions that they had difficulty rolling due to the financial crisis. TCK was in a bind and needed to sell something. They determined that Au was non-core (compared to Zn, Cu and met. coal) as were their hydroelectric facilities.
Divesture of the Gold Assets and "doubling Down" on the Coking Coal seems like a HORRBILE strategy in my opinion.
The stock went from around $4.00 to over $40.00, so the market liked their decision.
Regardless as to whether this was, remains or will be a good strategy for TCK, my point was that since TCK got out of the Au production business, it seems to be focusing on an an "explore and sell" model - preferring to deal in Au properties rather than Au itself. Also they seem to be emphasising Turkey and Mexico. So TCK buying VIT seems to be unlikely at this time. If VIT were less advanced on their properties, it might be a different story.
I'd never say never, since plans can change, and if the price is right and the upside is there ... It just seems unlikely to me based on TCK's public statements.