Victoria Gold Corp VITFF

Metals & Mining Gold

Victoria Gold Corp. is a gold mining company. The Company’s flagship asset is its 100% owned Dublin Gulch property, which hosts the Eagle, Olive and Raven gold deposits along with numerous targets along the Potato Hills Trend including Nugget, Lynx and Rex Peso. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers (km) north of the capital city of Whitehorse. The property covers an area of approximately 555 square kilometers and is the site of the Company's Eagle and Olive Gold Deposits. It also holds a suite of other development and exploration properties in the Yukon, including Brewery Creek, Clear Creek, Gold Dome and Grew Creek. The Eagle West target area lies as close as 500 meters northwest of the main Eagle Gold Deposit and hosts the exposures of the granodiorite. The Raven target is located at the contact zone at the extreme southeastern portion of the Nugget Stock. The Brewery Creek Project is a past producing heap leach gold mining operation.

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Victoria Gold Corp

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Post by GoldenPolarBearon Dec 04, 2024 6:39pm

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Post# 36346171

“ Firm managing Eagle Mine asks for $55 million to continue

"...

Firm managing Eagle Mine asks for $55 million to continue monitoring and protection..."

"... Response to Eagle Mine is now expected to cost tens of millions more. That's according to the latest report from the firm managing Victoria Gold's Eagle mine site. Jackie Hong has more...."

https://www.cbc.ca/player/play/video/9.6581086

"...

Receiver seeks to borrow more money as Victoria Gold cleanup continues

Court will rule on new borrowing set to fund landslide work on Dec. 9..."

"... A motion from PricewaterhouseCoopers Inc., the receiver that has been in charge at the Eagle Gold Mine site since August, is set to be heard on Dec. 9 in the Ontario Superior Court of Justice. The receiver took over following a court order sought by the Yukon government. Behind that order was Victoria Gold’s failure to keep up with deadlines related to remediation from a June 24 landslide that breached the mine’s heap leach facility.

What the receiver is seeking includes an increase in the amount it is permitted to borrow to fund the project from $50 million to $105 million. The document filed with the court says that the $50 million the receiver got through the receivership credit agreement is expected to be depleted by Dec. 6.

https://www.yukon-news.com/news/receiver-seeks-to-borrow-more-money-as-victoria-gold-cleanup-continues-7686150

https://www.bloomberg.com/news/articles/2024-12-04/gold-xauusd-settles-after-turmoil-in-korea-france-stokes-haven-buying

https://www.kitco.com/news/article/2024-12-04/powell-says-bitcoin-competes-gold-not-dollar-and-its-too-early-talk-about