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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.
Lesley Stokes at the Northern Miner is the rare combination of a geologist and a journalist. She understands what professional geologists like Victoria Gold’s VP Exploration, Paul Gray is talking about when he describes the Eagle discovery as “geologically boring, but mineralogically consistent,”. It is that consistency which drives VIT’s mine construction and the exploration efforts designed to extend the projected life of mine.
Victoria Gold (V.VIT) has a short powerpoint up which shows the progress they are making in the construction of the Eagle Gold Project in the Yukon.
Victoria Gold Corp. (TSX VENTURE: VIT) “Victoria” or the “Company” is pleased to provide an update on the successful Phase 1 site activities, detailed engineering and long-lead item procurement progress.
Victoria Gold Corp. (TSX VENTURE: VIT) (“Victoria” or the “Company”) is pleased to announce the receipt of assays from the second of four drillholes that targeted previously untested areas adjacent to, and below the 2016 Eagle Gold Mine Feasibility Study pit boundary, the Eagle Deep targets.