PricewaterhouseCoopers, as receiver and manager of Victoria Gold Corp., said on Thursday it has signed a definitive subscription agreement with Gatsuurt Mining Inc. and Boroo Pte. Ltd. under which the investor would become the sole shareholder of Victoria Gold, which retains ownership of the Eagle Gold Mine and related assets in Yukon. The total purchase price is $140 million, made up of $40 million in upfront cash and a further $100 million in cash paid in staged milestones tied to permitting and commercial production at Eagle, according to Boroo. Boroo will also assume certain remediation obligations and provide financial assurance to the Government of Yukon on closing to secure reclamation obligations at the mine.
Boroo and the Yukon government have settled the terms of a framework agreement, effective at closing, covering remediation, restart and closure at the site, and Boroo says it expects to commit over $1.5 billion in Canada in connection with Eagle. Discussions with the First Nation of Na-Cho Nyäk Dun are ongoing. The receiver intends to seek court approval of the agreement in early December 2026, with closing targeted on or about December 31, 2026, after a sale process that began in June 2025 and an exclusivity period with Boroo that began on April 23, 2026. Eagle has been shut since the June 2024 heap leach pad failure that sent cyanide-soaked ore into the local environment and led to Victoria Gold being placed in receivership.