On Aug. 15, it was revealed that the assets of Victoria Gold (TSX:VGCX), a Yukon-based miner, will be sold to the highest bidder in the aftermath of a massive cyanide solution spill at its Eagle gold mine that occurred in late June.
The Ontario Superior Court of Justice has granted the Yukon government’s request to appoint a receiver over the company. PricewaterhouseCoopers was selected to manage its property, assets and undertakings on behalf of creditors.
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Commodity prices
As of the time of this writing Tuesday, the price of gold sits at US$2,512.40, up from $2,466.60 per ounce in last week’s update, according to data from Kitco.com.
This week in gold
- Great Atlantic Resources (TSXV:GR) reveals that its subsidiary, Golden Promise Mines, has begun exploration at the East Golden Promise Gold Property in Newfoundland, which is just east of the company’s Golden Promise Property.
- Northern Superior Resources (TSXV:SUP) begins a drilling campaign with more than 20,000 metres of expansion drilling at the Philibert property in Quebec.
- Gold Basin Resources (TSXV:GXX) reveals it has completed its Q2/Q3 resource expansion and delineation reverse-circulation (RC) drill program in Arizona.
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(Top image of gold reserves generated by AI: Adobe Stock)