On Wednesday (14 August) Victoria Gold Corporation announced that the Ontario Superior Court of Justice had granted an order appointing PricewaterhouseCoopers (PwC) as the receiver and manager of the Victoria Gold Corporation.
The receivership order was served by the Yukon Government following a major landslide incident and cyanide spill at the Eagle Gold mine on 24 June.
The company confirmed it had received the order and said it “intends to respond to oppose the application”.
The Eagle facility produced gold from a conventional open-pit operation comprising a three-stage crushing plant, in-valley heap leach and carbon-in-leach adsorption-desorption gold recovery plant.
Following the incident, Victoria Gold suspended operations at the mine.
The Yukon Government and company officials have made a conscious effort to mitigate the environmental damage from the disaster. The Canadian Federal Government ordered Victoria Gold to construct barriers to protect fish and nearby waterways from any cyanide discharge.
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Under the receivership order, PwC is now the manager of all of Victoria Gold’s property, assets and undertaking “in which the respondent has an interest”. This includes the Eagle gold mine.
The receivership order appointed digital solutions provider Parsons as the lead environmental consultant in respect of the property.
Victoria Gold announced that the Texas Stock Exchange is expected to immediately suspend common shares of the company from trading and initiate and expedite a delisting review.
