Troilus lifts debt financing mandate to $1bn for Quebec copper/gold project
Developer Troilus Gold has increased its debt financing mandate for the Troilus copper/gold project in Quebec to up to $1-billion, reflecting stronger commodity markets, improved project economics and growing confidence from international lenders.
The upsized mandate compares with the $700-million framework announced in March and will support the development and construction of what is expected to become one of North America’s next major copper/gold mines.
“We are building a long-life operation founded on strong economics, technical excellence and environmental integrity,” said CEO Justin Reid.
“The increase to $1-billion positions us to deliver a funded construction package for Troilus in 2026 and reflects the team’s disciplined approach to unlocking value for our stakeholders and communities.”
The financing process is being led by a syndicate of global institutions, including Societe Generale, KfW IPEX-Bank and Export Development Canada. Troilus said the expansion demonstrates a high degree of alignment among its lenders and export credit agency partners as due diligence nears completion.
Technical, financial, and environmental and social due diligence is progressing on schedule, with final credit approvals and negotiation of definitive agreements expected in the first quarter of 2026.
The 435 km2 Troilus property, located in Quebec’s Frôtet-Evans greenstone belt, is supported by a May 2024 feasibility study outlining a 22-year, 50 000 t/d openpit operation.
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