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Receiver underscores Victoria Gold’s cash flow woes in Yukon legislature

After a failure occurred at the heap leach facility on June 24, 2024, PricewaterhouseCoopers was appointed by the court to oversee Victoria Gold Corporation’s Eagle Gold Mine, and representatives from PwC appeared virtually before the Yukon Legislative Assembly on April 30, 2025 to address the matter.
The receivership followed concerns about Victoria Gold's cash flow crisis, lack of communication, transparency, and understanding of its operations that predated the appointment by an Ontario court.
Since the receivership began, PwC has overseen environmental cleanup milestones including building a safety berm, upgrading water treatment, starting treated water discharge, and plans to stabilize the heap leach while coordinating with Yukon regulators and First Nation leaders.
PwC has requested funding of $220 million from Yukon authorities to cover the expenses related to remediation and receivership, while also considering recovering value by selling gold and other precious metals found in waste materials to help offset these costs.
The event resulted in environmental damage, a loss of jobs and income in the territory, and intensified calls for transparency and an independent June report on the failure's cause while the company remains on reduced payroll amid ongoing remediation efforts.

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