Troilus Gold Secures a US$700MM ( CDN$1BB) Project Financing Syndicate As The Next Key Milestone Towards Construction And Development Of The Troilus Gold Project
Last year Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) was able to secure US$1.3BB in LOI’s from 4 different Export Credit Agencies based in part on the import of future copper concentrates into various members of the European Union ( Germany, Sweden, Finland) and/or export of equipment from the same.
Troilus announced on March 13th, that “after considerable negotiation, that we have secured a US$700MM ( CDN$1BB) project financing syndicate underwritten by Societe Generale ( Paris), KfW Ipex-bank ( Frankfurt) and Export Development Canada. These lead arrangers will act as the agent via direct lending to the ECA’s for which we have an LOI ( Finnvera, EKN, Euler Hermes and EIFO).”
- Here is a link to that full press release:
Troilus Mandates Syndicate of Global Lenders for up to US$700M Project Financing
This project financing agreement is a very big step forward for Troilus Gold in de-risking this Project and moving towards development and construction. As most resource investors know, project financing can be a significant hurdle for projects of this scale (50ktpd, US$1B CAPEX), and this commitment is a strong endorsement of Troilus’ fundamentals. Plugging in current metal prices and exchange rate into the Troilus Feasibility Study model, then we are looking at a post-tax NPV5% of $2.6B and IRR of 27%, for a mine producing an average of 303,000oz AuEq over 22 years.
Below is a table showcasing the largest Canadian mine financings of the last decade, putting this transaction on the project financing syndicate into perspective.
On February 10th, we had Justin Reid, President and CEO of Troilus Gold Corp., back onto the KE Report for a comprehensive update of the key derisking work programs, additions made to personnel, detailed engineering underway, more drilling initiatives, permitting updates, and working on building the capital stack for the Troilus Project located in northcentral Quebec, Canada.
For those that missed that discussion, here is that interview:
GOLD…….$3050…………… I think it just left the pad………. 🙂
While Gold and Gold Stocks Continue To Shine, Dr Copper Has Been Starting To Dance Like Nobody’s Watching
Excelsior Prosperity w/ Shad Marquitz (03-20-2025)
https://excelsiorprosperity.substack.com/p/while-gold-and-gold-stocks-continue
I always liked Troilus, I just couldn’t stand having money sit there, but it looks like it is finally getting some attention. There are gems out there that get no respect like Rodney Dangerfield would say. Troilus is one of them and I had bought into them about four months ago when they first announced the financing, but it was ignored by the market, now we should see some excitement. DT