Boroo, a privately held investment holding company, has secured an exclusive window to negotiate the purchase of the shuttered Eagle gold mine, marking the most concrete step yet toward returning the troubled site to production nearly two years after a catastrophic landslide forced its closure.
The 90 day exclusivity agreement, signed April 23 with court appointed receiver PricewaterhouseCoopers, makes Boroo the sole party at the table for a potential acquisition of the mine and its related assets. The deal can be extended once by up to another 90 days if Boroo meets certain conditions and provides written notice.
The agreement follows a two-phase sale process that began in June 2025, including site visits and presentations from qualified bidders. PwC has not disclosed a target price, though a report it filed last year pegged the total value of Eagle’s assets at roughly $824.7 million.
Boroo will use the exclusivity period to complete due diligence and hammer out the terms of a definitive sale agreement, including a plan to restart operations. Any transaction would still require court approval.
The exclusivity period with the receiver follows after the mine’s previous operator, Victoria Gold, was pushed into receivership in 2024 after a failure at its heap leach pad released millions of tonnes of ore and at least 280,000 cubic metres of cyanide-bearing solution beyond containment. An independent review later attributed the collapse to inadequate surveillance, poor drainage and excessive loading.
The Yukon government has since authorized PwC to spend $220 million on cleanup, and recouping that outlay through a sale has become a stated priority.
Boroo bills itself as a specialist in operational turnarounds. The firm bought Barrick Mining’s Lagunas Norte mine in Peru in 2021 for $81 million while the asset sat in care and maintenance, subsequently restarting gold production and introducing new processing methods. It expanded again last year with the acquisition of the Alturas exploration project in northern Chile, and operates three producing gold mines in Mongolia.
The First Nation of Na-Cho Nyäk Dun, on whose traditional territory the mine sits, has declined to take a public position on Boroo specifically but has been sharply critical of how the territorial government has handled the process.
In a statement last week, the First Nation said the government’s endorsement of the exclusivity arrangement signals a preoccupation with clearing the disaster from its books rather than confronting the conditions that allowed it to happen. A territorial spokesperson has said any final deal will require the First Nation’s support.
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