JV Video: Troilus targets spring finance decision

Lenders have increased the proposed debt facility for the Troilus Mining (TSX: TLG; US-OTC: CHXMF) gold-copper project in Quebec up to $1 billion (C$1.35 billion) from $700 million as the developer moves from feasibility into detailed engineering and permitting, CEO Justin Reid said.

A feasibility study released in May 2024 outlined a 22-year open-pit mine and mill running 50,000 tonnes per day with an initial capital cost of $1.07 billion. Troilus hosts probable reserves of 380 million tonnes grading 0.5 gram gold per tonne, 0.06% copper and 1 gram silver for 6 million oz. gold, 7.3 million lb. copper and 3.2 million oz. silver.

“We’ve de-risked this project significantly – we now have production visibility,” Reid told The Northern Miner host Devan Murugan.

Ottawa’s review of the environmental and social impact assessment is well advanced, the seasoned executive added, but Quebec’s process is running about six weeks behind. The company is tightening its construction budget as engineering advanced and expected to bring the financing package to lenders’ credit committees this spring.

Watch the full interview below:

The preceding Joint Venture video is PROMOTED CONTENT sponsored by Troilus Mining and produced in co-operation with The Northern Miner. Visit https://troilusmining.com for more information.