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Financial|Gold|Operations
Financial|Gold|Operations
financial|gold|operations

PwC wins court nod to launch sale of Eagle mine in Yukon

30th June 2025

By: Creamer Media Reporter

     

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PricewaterhouseCoopers has received court approval to proceed with a formal sale process for the Eagle gold mine in Yukon, Canada, as it continues the restructuring of insolvent miner Victoria Gold.

The Ontario Superior Court of Justice last week issued a sale process approval order, authorising PwC, acting as receiver, to market and sell the Eagle mine assets, located in Dublin Gulch, within the traditional territory of the First Nation of Na-Cho Nyäk Dun.

The sale aims to maximise value for creditors and stakeholders following Victoria Gold’s financial collapse.

BMO Nesbitt Burns has been appointed as financial adviser to oversee the two-phase sale process, which contemplates either a full share sale of the company or an asset sale of the Eagle mine assets, excluding certain noncore items.

Victoria Gold was placed into receivership in August last year and PwC was appointed receiver of all the company's assets and undertakings under a court-supervised process. 

Under the timeline approved by the court, the marketing process will run through early August with Phase 1 bids due August 6. Final bids from qualified parties must be submitted by October 15.

The winning bid is expected to be selected by early November, with court approval and transaction closing targeted for late December.

The Eagle mine, which poured first gold in 2019, was once heralded as one of the biggest gold operations in Yukon. At full production, the openpit operation was expected to produce more than 200 000 oz/y of gold. However, operational issues, rising costs, and liquidity pressures led to a deteriorating financial position.

Edited by Creamer Media Reporter

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