mining

Gold holds at $2,400 and Yukon miner warns there is 'no assurance' it can reopen

Kitco Media
By Michael McCrae
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Gold holds at $2,400 and Yukon miner warns there is 'no assurance' it can reopen teaser image

(Kitco News) - Victoria Gold said there is "no assurance" the mine its Eagle Mine will reopen.

On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable.

In late June the Yukon mine suffered a heap leach failure at its Eagle Gold Mine. Eagle employs about 500 people. This week, the miner provided an update on its investigation.

Gold prices ended their second week above $2,400 an ounce. Gold is seeing fresh bullish momentum following relatively dovish comments from Federal Reserve Chair Jerome Powell, coupled with weaker-than-expected inflation in the Consumer Price Index.

Kitco Media

Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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