Troilus Gold Secures Up to $700M in Project Financing
Troilus Gold Secures Major Project Financing
Troilus Gold Corp. (TSX: TLG, OTCQX: CHXMF) has recently taken a momentous step in its journey towards developing the Troilus Gold-Copper Project. The company has successfully executed a mandate letter with a syndicate of prominent global financial institutions. This non-binding term sheet signals a potential structured project debt financing package worth up to US$700 million.
Strategic Partnerships for Development
The lending syndicate includes well-established financial players such as Societe Generale, KfW IPEX-Bank, and Export Development Canada. Their combined expertise in project financing for large-scale mining initiatives positions Troilus as a prominent and financeable asset on the global stage. This agreement marks a significant milestone in advancing towards fully funded construction of the Troilus project.
Building Towards a Sustainable Future
Troilus anticipates that this financing arrangement will pave the way for further assistance from global export credit agencies (ECAs), which have already expressed interest in supporting additional off-take arrangements. Four Letters of Intent (LOIs) have been announced from these ECAs, totaling up to US$1.3 billion, underscoring confidence in the project’s viability.
Expert Insights from the CEO
Justin Reid, the CEO of Troilus, emphasized the importance of securing partnerships with these recognized financial institutions. He stated, "Securing this mandate with three globally recognized financial institutions is a pivotal step in delivering a fully funded construction package for the Troilus project." This validation is crucial as it reflects the strong economic fundamentals and strategic importance of the Troilus project.
Advancing With Diligence and Preparation
As the project moves forward, Troilus is currently undergoing detailed technical, financial, and environmental due diligence with the mandated lead arrangers. This process is essential for structuring a definitive project debt package, with a target for financial close anticipated by the end of 2025. Troilus is also working hard on advancing other non-dilutive financing components while negotiating off-take agreements with smelters both domestically and internationally.
Focus on Sustainability and Environment
The company is placing dual importance on economic and environmental sustainability. Key developments include the final submission of the Environmental and Social Impact Assessment (ESIA) and progress in basic and detailed engineering operations. The collaboration with BBA Inc. is vital in ensuring that the project adheres to both local and international environmental standards.
A Bright Future for Troilus Gold
Troilus Gold Corp. is strategically positioned in Quebec, Canada, with a substantial land holding of 435 km² in the Frôtet-Evans Greenstone Belt. With a feasibility study supporting a robust 22-year plan for open-pit mining, Troilus is establishing itself as a cornerstone project in North America. This ambitious endeavor reflects the growing confidence in Troilus as it transitions from development stage to actual production.
Contact Information
For further inquiries, you can reach:
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com
Frequently Asked Questions
What is the purpose of the recent mandate letter?
The mandate letter is part of a process to secure structured project financing of up to US$700 million for the Troilus Gold-Copper Project.
Who are the financial institutions involved?
The syndicate includes Societe Generale, KfW IPEX-Bank, and Export Development Canada.
What does the financing package entail?
The financing package will support the development and construction of the Troilus Gold-Copper Project in Quebec.
When is the anticipated financial close?
The company targets financial close for before the end of 2025.
What is unique about Troilus Gold Corp.?
Troilus Gold Corp. is focused on systematically progressing towards production at the historic Troilus Mine, which is positioned in a prime mining jurisdiction.
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