Court-Appointed Receiver Seeks to Sell Yukon Gold Mine

Also, it said that the sale process would be a robust, transparent and fair one, as it will be under court supervision.

SEATTLE (Scrap Monster): The court-appointed receiver of the Eagle Gold Mine near Mayo, Yukon, PricewaterhouseCoopers Inc., is reportedly planning to ask the court for permission to sell the mine, according to a story earlier this month. This Wednesday, a court in Ontario will hear the plea.

Recall that in June of last year, the mine reported a catastrophic heap-leach facility failure that resulted in the environmental leak of about two million tonnes of water and ore laced with cyanide.

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The Yukon Government in its capacity as receivership lender has confirmed that it is satisfied with the form and substance of the proposed Eagle Mine sale process and extended its support to the sale process, said the fifth receiver's report.

According to the Yukon government, the receiver intends to start the Eagle Gold Mine selling process by July, provided the proposal is approved by the court. Additionally, it stated that because the sale process would be supervised by the court, it would be strong, open, and equitable.

According to the proposal, qualified offers will be chosen before August 20th, and the initial bidding deadline is August 6th. By October 15, the due diligence on eligible bids will be finished. November 5 is the estimated date for choosing the winning bid.