Whitehorse Daily Star

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Photo by Vince Fedoroff

ENTHUSIASTIC CROWD – Members of the local business community, representatives of the legislative assembly, miners – some 80-plus in all – gathered Tuesday evening to celebrate the pouring of Victoria Gold’s first gold bar.

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Photo by Vince Fedoroff

PROUD MOMENT – Chief operating officer Mark Ayranto of Victoria Gold leads the toast after the company’s first gold bar was poured Tuesday.

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Photo by Vince Fedoroff

DOING THE HONOURS – Premier Sandy Silver, in the silver suit on the left, joined Victoria Gold’s Matthew Mock Tuesday to pour the first gold bar at the Eagle Gold Mine north of Mayo. The event was livestreamed.

‘This team is ready to pour gold’

It’s not often a crew gets to turn belief into success, especially in the mining business.

By Chuck Tobin on September 18, 2019

It’s not often a crew gets to turn belief into success, especially in the mining business.

It’s not often they can convince the international financing community focused on numbers – not passion.

Victoria Gold poured its first gold bar Tuesday evening at its Eagle Gold Mine north of Mayo.

Company president and CEO John McConnell hosted the event via a livestream from the international Denver Gold Show.

Chief operating officer Mark Ayranto hosted it from downtown Whitehorse at the Miner’s Daughter pub on Main Street.

Together they shared the gravity of the accomplishment, not just by them but by everybody involved in the Eagle Gold Project over the last 10 years.

And there were many, including Sean Harvey, the chair of the company’s board of directors, who is described as a member of the 10-plus years club.

They shared a thank you to their families for standing by them and their vision when the push was uphill.

They thanked those confident enough to put up half a billion dollars to bring the mine into production.

“Everybody deserves a great thank you, a collective thank you,” Ayranto told an enthusiastic gathering in Whitehorse.

They watched on the big screen as McConnell introduced the team of Matthew Mock, Victoria’s process manager, and Premier Sandy Silver, who were at the mine site preparing for the pour, both decked out in silver safety suits.

“This team is ready to pour gold,” came the pronouncement from Denver.

It didn’t talk long to fill the mould with 1,001 ounces – 63 pounds – valued at somewhere around Cdn. $2 million.

The pub was filled with cheers and applause from prominent members of the local business community. Many had provided services and supplies to the Eagle Gold Project, from heavy equipment to air travel.

There were several government ministers on hand. Energy, Mines and Resources Minister Ranj Pillai was in Denver.

There were members of the official Opposition in the audience who were recognized for supporting the project while they were in government.

Mayor Dan Curtis was there, as were many representatives of the mining industry.

While Chief Simon Mervyn of the First Nation of Na Cho Nyak Dun was unable to make it, the First Nation was represented by Bryan Moses, its environmental monitor, and Ronalda Moses, the First Nation’s liaison to Victoria Gold.

Everybody shared a toast.

Victoria Gold’s bar was the first to be poured by a hardrock mine in the territory since the Brewery Creek gold mine east of Dawson poured its last gold bar in 2001.

Ayranto mentioned how the project has had an enormous benefit on the Yukon’s economy and how currently there are 251 people employed directly by the company, more than half of whom are residents of the Yukon.

Eighteen on the payroll are members of the First Nation of Na Cho Nyak Dun.

When the mine is fully ramped up in the next nine months, the company expects to employ an estimated 350 people.

Ayranto explained in an interview afterward officials expect to pour a bar every couple of days, in keeping with the company’s projection of producing 200,000 ounces per year.

Victoria Gold bought the property in Dublin Gulch in 2009. The company went through the exploration phase, the economic assessments, feasibility studies. It secured the mining licence and the licence from the water board.

McConnell used to market the project as a turn key operation ready to go, with all the necessary permits in hand.

Financing to bring the mine into production was announced 18 months ago.

The mine life is currently estimated at 11 years, though exploration on the property continues.

As part of Tuesday’s celebration, Victoria Gold showed video footage detailing the construction project, from dirt being moved, steel going up and pipes being laid.

Officials showed aerial footage of the first big blast in the open pit.

It was an impressive affair, a synchronized affair involving a couple of hundred individual explosions over 300 metres, beginning at one end of the bench, and ending at the other, all in sequence over a matter of seconds.

It was a captivating moment that grabbed the audience.

“That one was for you, Sean,” said McConnell in reference to CEO Sean Roosen of Osiska Royalties, which joined with Orion Mine Finance and CAT Financial to provide the financing.

It was Roosen’s birthday.

Comments (10)

Up 22 Down 4

Always Questions on Sep 20, 2019 at 7:58 pm

Just wondering how many people living here know that a gold bar pour happens frequently in Dawson City, processing the smaller family operation's from the Klondike gold fields and Indian River, West Yukon river, during the mining season?
It's a big deal on any scale - I've seen it and held it (it is heavy), it gets you on both an emotional and physical level, go read some Robert Service - I think he really 'got' it.
Congrats Victoria Gold!

Up 7 Down 18

Clem Whatmaue on Sep 20, 2019 at 4:32 pm

Let this mine be the Liberal legacy project whereas the 'Yukon Party's' legacy mine is the Wolverine mine that just went into receivership.

Up 21 Down 5

Obi! on Sep 20, 2019 at 3:27 pm

Congratulations to Victoria Gold.
They have created real economic growth in the Yukon. Something that is not provided by the Governments, and employs hundreds of Yukoners with good jobs and spin offs, that help hundreds more.

Now all we need is a large Hydro dam built in central Yukon to provide clean, renewable energy for the benefit of all Yukoners, and the our future will be secured.

Up 12 Down 4

Ron Light on Sep 20, 2019 at 2:20 pm

Awesome accomplishment Victoria Gold team and contractors.

Up 10 Down 15

Alchemy on Sep 20, 2019 at 9:16 am

Let's hope they are ready to pour some of their profits into infrastructure, like roads, schools and hospitals. As per the social contract for all mining in the Yukon that extracts our collectively owned resources.

Up 19 Down 25

David on Sep 19, 2019 at 9:46 am

I wonder what the long term impact will be to the Yukon economy. If we look at past ventures the odds do not look good...

Up 26 Down 4

Jack Haynes on Sep 19, 2019 at 7:47 am

Congratulations to the Victoria Gold Team

Up 6 Down 38

Walter Wentworth on Sep 19, 2019 at 4:28 am

Grow grow with Trudeau!

Up 28 Down 13

jc on Sep 18, 2019 at 8:25 pm

Ten years of government and environmental BS to finally pour a gold bar. And only 11 years of mine life. What year would the Yukon be celebrating the Klondike gold rush if it had to endure all the BS bureaucracy that we have now? Pure nonsense.

Up 16 Down 3

Kevin Coswan on Sep 18, 2019 at 6:16 pm

If not mistaken a troy ounce of gold has a mass of 31.1035 grams
1001 troy ounce bar is approx 68.64 pounds
The little over 5 pounds of gold that is missing each and every bar over the life of the mine would amount to a tidy sum.
Soooooo...whoever did the calc...news HQ or Mine HQ....may have to put an order in for a new set of updated tables...as a kilo bar of 9999 fine gold bounces above and below the 50k$US line...and that is a lot of sourdough in my old Yukon book...thought you should know...KC

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