GREY:VITFF - Post by User
Post by
nfacon Jan 20, 2017 5:48pm
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Post# 25735855
To Curv from us pumpers
To Curv from us pumpers Victoria Gold Corp. Announces Further Progress on the Path to Development of the Eagle Gold Mine
Toronto, ON - Victoria Gold Corp. (VIT.TSX-V) ("Victoria" or the "Company") is pleased to announce the signing of a Letter of Intent with Yukon Energy Corp to supply electric power for the Eagle Gold Mine project ("Eagle").
Letter of Intent signed with Yukon Energy Corporation
Victoria and the Yukon Energy Corporation ("YEC") have signed a Letter of Intent which sets out the essential elements of a Power Purchase Agreement ("PPA") to be negotiated, executed and delivered for the supply of electricity to the Eagle Gold Mine. The PPA is the definitive agreement under which Victoria will secure electrical power for Eagle for the life of mine operations and is expected to be completed in Q2 2011.
"On the heels of initiating the Eagle Feasibility Study, the Victoria team has achieved another critical milestone as we prepare Eagle for mine development" said John McConnell, President and CEO of Victoria. "Securing commercial rate electrical power is a key component to driving value from Eagle and we are pleased to be working with YEC to ensure Eagle is a low-cost operation, providing benefits to Victoria and the Yukon for many years into the future."