Troilus secures $1.3bn in potential funding for Quebec project
Canadian project developer Troilus Gold continues to make strides in its financing efforts for the development of its flagship copper and gold project in Quebec, with the announcement of a letter of intent (LoI) from Export Development Canada (EDC) for up to $300-million.
The new LoI from EDC builds upon the earlier LoIs announced with key European export credit agencies. Together, these LoIs represent up to $1.3-billion in potential financing, positioning Troilus well as it prepares for the next phase of its journey toward becoming a North American copper and gold producer.
In terms of the latest LoI, EDC is ready to consider providing up to $300-million in debt financing for the Troilus project, contingent upon a successful due diligence process that will assess economic, technical, environmental and social factors.
“As a Canadian company, this support from EDC reinforces the Troilus project’s importance to Canada’s critical minerals strategy and broader resource objectives, while highlighting our nation’s leadership in advancing domestic projects with global significance. It also reflects the growing recognition of Troilus as a highly financeable copper/gold asset capable of providing reliable, long-term supplies of critical minerals to meet rising global demand,” said Troilus CEO Justin Reid.
The Troilus project is a past-producing mine, which operated from 1996 to 2010, producing more than two-million ounces of gold and nearly 70 000 t of copper.
A feasibility study completed in May 2024 supports a large-scale 22-year, 50 000 t/d openpit mining operation.
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