Thursday, March 8, 2018

Victoria Gold Corp - VIT.v

Victoria Gold Corp - VIT.v is advancing the flagship Eagle Gold Deposit on the Dublin Gulch Property in the Yukon.

The Eagle Gold Project has a resource of 4.8 million gold ounces indicated and 1.5 million gold ounces inferred. A PEA suggests +200,000 ounces of gold annually at an operation cost of approximately $600 per ounce.

On March 8, 2018 the company released NEWS

"Victoria Gold Corp. (TSX.V-VIT) “Victoria” or the “Company” is pleased to announce that it has entered into documentation with Orion Mine Finance (“Orion”), Osisko Gold Royalties Ltd (“Osisko”) and Caterpillar Financial Services Limited (“Caterpillar Financial”) with respect to a construction financing package totalling approximately C$505 million in aggregate (the “Financing”) that will fully fund the development of the Eagle Gold project through to commercial production. The Financing is comprised of:

  • two credit facilities totalling US$175 million (approximately C$219 million);
  • an equipment financing facility for up to US$50 million (C$63 million);
  • a C$98 million royalty financing; and,
  • a private placement of Victoria common shares to two separate subscribers for a total of C$125 million.