Investors should pay close attention to Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) and its gold-copper Troilus Project, located in north-central Quebec, Canada. In latest news, the company is actively progressing a structured project debt financing package of up to US$700 million for the development and construction of the project. Two, the mine has a strong history, producing two million ounces of gold and nearly 7,000 tonnes of copper between 1996 and 2010. Three, a 2024 Feasibility Study showed incredible potential for Troilus to rank among the largest gold producers in Canada with life of mine (LOM) average annual production of 303,000 ounces gold equivalent (AuEq) over a 22-year mine life.
In addition, according to Justin Reid, CEO of Troilus Gold, “Troilus has grown into one of the largest undeveloped gold-copper deposits in North America—a true generational asset. With a strong feasibility study, key permits advancing, and the backing of top-tier global financial institutions, we’re moving steadily towards construction. Our focus remains on responsible development, long-term value creation, and strengthening Quebec’s position as a leader in critical minerals.”
Not only is this a positive catalyst for Troilus Gold Corp., but also for other gold industry stocks, such as Skeena Resources (NYSE: SKE) (TSX: SKE), Robex Resources (TSXV: RBX) (OTC: RSRBF), Getchell Gold (CSE: GTCH) (OTC: GGLDF) and Lundin Mining (TSX: LUN) (OTC: LUNMF).
Look at Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), For Example
Troilus Gold Corp. announced that it has executed a mandate letter with respect to a non-binding term sheet with a syndicate of leading global financial institutions, including Societe Generale, KfW IPEX-Bank, and Export Development Canada, (together the mandated lead arrangers or “MLAs”) to arrange a structured project debt financing package of up to US$700 million for the development and construction of the Troilus Gold-Copper Project, located in north-central Quebec, Canada.
This syndicate of lenders brings deep expertise in structuring project financing for large-scale mining developments, reinforcing Troilus as a globally recognized, financeable asset. The execution of this mandate letter represents a major milestone in advancing towards a fully funded construction package and follows four previously announced Letters of Intent (“LOIs”) from global export credit agencies totaling up to US$1.3 billion (see November 13, 19, and 21, 2024 press releases). Troilus anticipates that the ECAs previously detailed and other ECAs will provide financing and guarantees in support of companies and off-take arrangements within their domestic economies.
Justin Reid, CEO of Troilus, commented, “Securing this mandate with three globally recognized financial institutions that have expertise in structuring financing solutions for large-scale mining development is a pivotal step in delivering a fully funded construction package for the Troilus project. These institutions bring world-class mining finance expertise, and their participation further validates the project’s strong fundamentals and strategic importance. Project due diligence is underway in parallel with continued permitting and detailed engineering; our development schedule is on track as we advance Troilus towards construction.”
As part of the next phase in this financing process, detailed technical, financial, and environmental & social due diligence is underway with the MLAs. This due diligence will be instrumental in structuring the definitive project debt package, with financial close targeted for before the end of 2025. Troilus and its advisors continue to advance sizeable other non-dilutive components of the project financing as well as negotiating off-take agreements with domestic and foreign smelters and look forward to updating the market in due course.
The Company continues to advance key development catalysts, including the final submission of its Environmental and Social Impact Assessment and the advancement of basic and detailed engineering by BBA Inc. (see January 28 and 29, 2025, press releases).
The completion of the financing package, including the debt facility, remains subject to final due diligence, credit approvals, and negotiation and execution of definitive financing agreements and satisfaction of the conditions precedent thereunder. Auramet International Inc. continues to act as project finance advisor and assist with structuring, identifying, and engaging potential financing participants. Troilus will provide further updates as the process advances.
Other related developments from around the markets include:
Skeena Resources announced a rebranding to Skeena Gold & Silver to more accurately represent the strong silver component at its flagship Eskay Creek Project. This subtle yet impactful shift highlights Skeena’s ongoing commitment to advancing the world-class gold-silver Project, located in the renowned Golden Triangle of British Columbia, Canada. Randy Reichert, President & Chief Executive Officer of Skeena, commented: “The rebranding to Skeena Gold & Silver captures the increasing importance of the silver component at Eskay Creek. As we continue to develop this remarkable deposit, our name now better reflects the spectrum of value we are creating.”
Robex Resources announced the signing of the previously announced syndicated facility agreement with Sprott Resource Lending (US Manager) Corp., as agent and lead arranger, Sycamore Mine Guinée-SAU, a subsidiary of the Company, as borrower, and others, in respect of a US$130 million senior secured syndicated facility to finance the construction of the Kiniero Gold Project in Guinea. Closing of the Debt Facility will occur on the date that the initial conditions precedent outlined in the Facility Agreement are satisfied or waived, allowing the Company to draw down the initial utilization under the Facility Agreement. Robex Managing Director and Chief Executive Officer Matthew Wilcox said: “We are pleased to have signed the Facility Agreement with Sprott. The Debt Facility provided by Sprott will be the sole leverage for the Kiniero Project. The next step for the Company is the listing of the Company’s common shares on the Australian Securities Exchange which is targeted for April this year. The Project is on schedule, and we will share construction updates regularly.”
Getchell Gold announced that the technical report titled The Preliminary Economic Assessment of the Getchell Gold Corp. Fondaway Canyon Project, Nevada, USA, has been filed and is available on SEDAR+. The PEA outlines an open pit mining and conventional 8,000 tonne per day milling operation with an initial planned mine life of approximately 10.5 years. The PEA contemplates the production and sale of a high-grade concentrate to a local 3rd party refinery for pressure oxidation or roasting followed by cyanidation to produce doré. “This PEA readily demonstrates the potential for a robust economic open pit mining operation at Fondaway Canyon. In addition, there remain multiple avenues to pursue in 2025 to further improve the economics beyond the current enviable level. There is significant potential to increase the mineral resource within and beyond the current minable shape and to optimize the mining and processing of the gold.” stated Mike Sieb, President.
Lundin Mining announced that it has entered into exclusivity to negotiate an earn-in agreement with Talon Metals Corp. for the right to acquire up to a 70% ownership interest in the Boulderdash exploration properties which are adjacent to the Company’s Eagle Mine. Concurrently with the execution of the exclusivity agreement, Lunding Mining has advanced Talon US$5 million to, among other things, commence drilling at Boulderdash. If the parties do not execute the Option Agreement, Talon will either repay such advance or issue shares to the Company with an aggregate subscription price equal to such advance based on the 5-day volume weighted average price of Talon shares on the TSX at the time of issuance. It is anticipated that pursuant to the terms of the Option Agreement, Lundin Mining will agree to fund up to 30,000 metres (m) of Talon’s drilling campaign at Boulderdash in exchange for a 44.625% interest in Boulderdash. Such drill campaign will be completed in 10,000 mtranches at the election of Lundin Mining. Following the completion of 30,000 m of drilling, the Company may fund a feasibility study in respect of the Boulderdash property in exchange for an additional 25.375% interest in Boulderdash, for a total ownership of 70%, as well as the potential for a 90% interest in certain properties adjacent to Boulderdash.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Troilus Gold Corp by Troilus Gold Corp. We own ZERO shares of Troilus Gold Corp. Please click here for disclaimer.
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