trending Market Intelligence /marketintelligence/en/news-insights/trending/W-7N7Wv0XJrPQGoZyW3VhQ2 content esgSubNav
In This List

Victoria Gold finishes construction of Eagle project in Canada

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Victoria Gold finishes construction of Eagle project in Canada

Victoria Gold Corp. completed the construction of the Eagle gold project, part of the Dublin Gulch property in Canada's Yukon Territory, one month ahead of schedule and on budget, with the first gold pour scheduled for Sept. 17, according to a company release.

In a project update released on Sept. 9, the company said the project was completed in July. Commissioning activities are now complete, and the site's management team is now fully staffed. Ramp up is currently in progress.

Over 1 million tonnes of ore have been mined from the Eagle pit, which is 60% ahead of schedule for 2019. Over 3 million tonnes of ore are expected to be delivered to the heap leach pad by year-end, the company said.

In February, Victoria increased the construction costs by 10% to C$487 million mainly due to additional earthworks as a result of unexpected geotechnical conditions. The following month, the company launched a C$30 million bought deal offering to finish the mine.

In April 2018, Victoria secured a C$505 million funding package to build the project.