Victoria Gold (TSX:VGCX) has provided an update regarding the government’s response to the cyanide incident at its Eagle mine in the Yukon territory. The Yukon government is seeking to appoint a receiver over the company, its property, and obtain related relief under Ontario’s Courts of Justice Act. This action follows the discovery of dead fish in Haggart Creek near the mine site, believed to have been caused by contaminated water discharge.
In a recent news release, Victoria Gold stated its intention to oppose the appointment of a receiver by the government. Additionally, the government has issued orders for mitigation efforts, including the installation of fish barriers in various locations along the creek to prevent further harm to the ecosystem.
The company has faced challenges since the landslide and heap leach pad failure on June 24, with cyanide detected in the river prompting public warnings to avoid Haggart Creek. Victoria Gold, a mineral exploration and production company focused on the Yukon, holds significant gold reserves and resources in its Eagle and Olive deposits.
The stock of Victoria Gold (TSX:VGCX) is currently trading at $0.48 per share, experiencing a significant decline since the spill incident in June. Investors are advised to conduct thorough research and consider all information before making investment decisions.
