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I am just back from five busy days in the Yukon. Visited Victoria Gold, Western Copper and Gold, Alexco, White Gold, ATAC and Nickle Creek and spoke to another eight or nine companies at the Yukon Mining Alliance’s Yukon Mining Conference in Dawson City.
Victoria Gold Corp. (the “Company” or ‘Victoria) (TSX-V:VIT-V) is pleased to announce the addition of two experienced and respected mining professionals, Sean Roosen and Jacques Perron, to its Board of Directors representing our two new strategic investors, Osisko Royalties and Orion Resource Partners respectively.
Victoria Gold Corp. (the “Company” or ‘Victoria) (TSX-V:VIT-V) is pleased to present a suite of pictures from the Company’s Dublin Gulch property. The Dublin Gulch property hosts the Eagle Gold deposit which is fully financed and under construction. The Eagle Gold Mine’s first gold pour is scheduled for the second half of 2019, is expected to produce over 200,000 ozs of gold per year and will be Yukon’s next and largest ever gold mine.
Victoria Gold Corp. (TSX-V:VIT) “Victoria” or the “Company” is pleased to provide a construction update for the Eagle Gold Mine Project (the “Project”), Yukon Canada. Full construction commenced March 15, 2018 with completion and first gold pour scheduled for the second half of 2019.
Victoria Gold Corp. (TSX-V:VIT) (the “Company”) is pleased to report that the Company has entered into a gold price protection program (the “Hedging Program”) with Macquarie Bank Limited. The objective of the Hedging Program is to mitigate the risk associated with adverse fluctuations and volatility in the price of gold during the critical early years of operation and debt repayment.
Victoria Gold Corp. (TSX:V-VIT) “Victoria” or the “Company” is pleased to announce that it has finalized and executed definitive transaction agreements with Orion Mine Finance (“Orion”), Osisko Gold Royalties Ltd (“Osisko”) and Caterpillar Financial Services Limited (“Cat Financial”) with respect to the previously announced construction financing package totalling approximately C$505 million in aggregate (the “Financing”) that will fully fund the development of the Eagle Gold project through to commercial production.
Mining Victoria Gold’s (V.VIT) Eagle Gold Project at Dublin Gulch in Yukon literally means taking off the side of a small mountain. That mountain hosts a National Instrument 43-101 compliant Reserve of 2.7 million ounces of gold at .67 gpt. Operating costs are estimated at US$550 per ounce and the mine is designed to produce approximately 200,000 ounces of gold per year in full operation.
A 500 million dollar mine is big news. Big enough to rate a mention on the CBC.
We’ve been reporting on Victoria Gold (V.VIT) for several years. CEO John McConnell has been convinced that there would be a mine at the Eagle Deposit Dublin Gultch in the Yukon. Today’s press release announcing a Comprehensive C$500 Million Financing Package for Eagle and Continuation of Construction Activities means that Victoria is financed right through until commercial production.
Victoria Gold Corp. (TSX.V:VIT) “Victoria” or the “Company” is pleased to announce that it has entered into documentation with Orion Mine Finance (“Orion”), Osisko Gold Royalties Ltd (“Osisko”) and Caterpillar Financial Services Limited (“Caterpillar Financial”) with respect to a construction financing package totalling approximately C$505 million in aggregate (the “Financing”) that will fully fund the development of the Eagle Gold project through to commercial production. The Financing is comprised of: