Boroo Pte. Ltd. said on 22 October 2026 that it had agreed to acquire Victoria Gold Corp., owner of the Eagle Gold Mine in Yukon, from receivership for total consideration of C$140m.
Why Boroo Pte. Ltd. (via Gatsuurt Mining Inc.) is buying Victoria Gold Corp. (Eagle Gold Mine)
Boroo, a privately held Singapore-based mining group that specialises in operational turnarounds, plans a three-phase programme of stabilisation and remediation, mine restart and mine extension. It said it expects to commit more than C$1.5bn in Canada, including about C$800m of capital deployment between 2027 and 2029.
“marks a pivotal turning point for this foundational Yukon asset”
Deal terms and financing
Boroo will pay C$40m upfront in cash and C$100m in staged payments linked to permitting and commercial production, and will assume certain remediation obligations. It will provide interim financial assurance to the Government of Yukon for reclamation at closing. Some pre-closing liabilities will be vested out to a new entity that remains in receivership.
Regulatory approvals and timing
The receiver will seek approval from the Ontario Superior Court of Justice (Commercial List) in early December 2026. Closing also requires Competition Act clearance and the consent of the Government of Yukon as receivership lender, and is targeted for about 31 December 2026.
Market context
The Eagle mine's heap leach facility failed in June 2024, releasing cyanide-contaminated material, and Victoria Gold was placed into receivership later that year. Boroo signed an exclusivity agreement with the receiver in April 2026.
