On June 24 at 5:30 a.m. at the Eagle Mine site in Yukon Territory, a significant amount of material, totaling approximately 4 million tonnes, collapsed down the hillside. Out of this, two million tonnes breached containment due to a failure in the heap leach facility during the incident.
The Government of Yukon has taken action by applying for receivership of the company and its assets in order to address concerns regarding human health, safety, and environmental risks. The Ontario Supreme Court of Justice has approved this application and appointed PricewaterhouseCoopers to oversee the management of the company’s property, assets, and operations on behalf of its creditors.
Since the disaster, shares of Victoria Gold have plummeted by over 90% as of Friday, August 16. Trading of the company’s shares has also been halted by the Canadian Investment Regulatory Organization.
For a detailed timeline of events related to this incident, please refer to the provided video. Stay informed on the latest stock market news by visiting Stockhouse.com.
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