Victoria Gold owes millions to Na-Cho Nyӓk Dun businesses "...
Victoria Gold owes millions to First Nation of Na-Cho Nyk Dun businesses, report says
Businesses are owned by the First Nation's development corporation and citizens..."
When Victoria Gold goes into forced bankruptcy, good luck being paid all outstanding debts. What a financial disaster!
I doubt Victoria Gold will go back in gold production ever...
"... Businesses owned by the First Nation of Na-Cho Nyk Dun's development corporation and citizens are collectively owed at least $9.3 million by Victoria Gold Corp, according to figures released by the receiver in charge of the company's assets...."
There will be many bankruptcies in the Yukon if this isn't resolved relatively soon...
"... The figures illustrate the economic fallout of June's heap leach failure at Victoria Gold's Eagle mine near Mayo, with a majority of the debt coming through unsecured credit.
Businesses connected to Na-Cho Nyk Dun include the NND Summit Camp, of which the Na-Cho Nyk Dun Development Corporation owns a majority stake, and Northern Cascades, which is owned by FNNND citizen Kyle Mervyn, the grandson of former chief Simon Mervyn...."
Many in the Yukon didn't realize what a massive financial impact this will have for generations if this isn't promptly resolved...
https://www.cbc.ca/news/canada/north/victoria-gold-owes-millions-to-first-nation-of-na-cho-ny%D3%93k-dun-businesses-report-says-1.7329417