It was revealed that Victoria Gold’s (TSX:VGCX) had been working with various regulatory authorities including the Government of Yukon, the First Nation of Nacho Nyak Dun, the Village of Mayo, and the Yukon Workers’ Safety and Compensation Board regarding the June 24 landslide and heap leach pad failure at its Eagle Gold Mine in Yukon Territory.
Yukon mines minister John Streicker said the Department of Energy, Mines and Resources told the company to stabilize the area where the slide occurred and to closely monitor surface and groundwater near the site.
Victoria Gold’s recent news release indicated an uncertain future for the site, however, stating the company has no assurance it will receive authorizations to restart production, or that it will have the financial resources to repair damage or remediate impacts caused by the incident.
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Commodity prices
As of the time of this writing Tuesday, the price of gold sits at US$2,468.10 per ounce, which is up 4.05 per cent over a five-day period, according to data from Kitco.com.
This week in gold
- Stallion Uranium (TSXV:STUD) offloads the Richmond Mountain Gold Project back to EMX Royalty’s (TSXV:EMX) subsidiary Bronco Creek Exploration.
- SolGold (TSX:SOLG) signs a US$750 million syndicated gold stream agreement with Franco-Nevada (TSX:FNV) and Osisko Gold Royalties (TSX:OR) on its Cascabel project in Ecuador.
- Brixton Metals (TSXV: BBB) options its Atlin Goldfields Project in British Columbia to Eldorado where Eldorado can acquire 100 per cent ownership of the project.
Top six trending gold stocks
- Victoria Gold (TSXV:VGCX)
- New Found Gold (TSXV:NFG)
- Laurion Minerals Exploration (TSXV:LME)
- Fortune Minerals (TSX:FT)
- G Mining Ventures (TSX:GMIN)
- Wesdome Gold Mines (TSX:WDO)
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(Top image: Adobe Stock)