Troilus Gold Corp. Agrees to Commercial Offtake Terms with Aurubis AG for its Copper-Gold Concentrate
TLG.TO
Published on 06/18/2025 at 11:41
Troilus Gold Corp. announced that is has agreed to indicative commercial offtake terms with Aurubis AG for the offtake of copper-gold concentrate expected to be produced from the Company?s Troilus Project in north-central Quebec, Canada. The final binding offtake agreement is expected to be executed in connection with the completion of the Project?s broader debt financing package of up to USD 700 million announced on March 13, 2025, which is being structured by a syndicate of global financial institutions, including Société Générale, KfW IPEX-Bank, and Export Development Canada (?EDC?).
This financing is expected to include support from Euler Hermes Aktiengesellschaft (?Euler Hermes?), representing the German Federal Ministry for Economic Affairs and Climate Action, which has issued a letter of intent (?LOI?) to Troilus for up to USD 500 million, confirming in-principle eligibility for an untied loan guarantee. As outlined in the Company?s May 2024 Feasibility Study, the project is expected to produce an annual average of approximately 135.4 million pounds of copper equivalent or 75,000 wet metric tonnes (?WMT?) of concentrate. The concentrate will contain copper, gold, and silver as payable metals.
The indicative agreed upon offtake terms include anticipated specifications for the concentrate, precious metals payabilities, treatment and refining charges, and applicable penalties for deleterious elements. Metallurgical testwork conducted to date, as well as historical data from the past operation, indicates that there will not be penalties incurred outside the thresholds outlined in the agreement. Ocean Partners USA Inc. (?Ocean Partners?) is acting as Troilus?
independent third-party advisor in support of the Company?s concentrate offtake strategy. With deep expertise spanning technical, commercial, and financial disciplines, Ocean Partners has provided valuable market insight and guidance throughout the development of the offtake arrangements. Their involvement has been instrumental in conducting the specialized analysis and commercial structuring required for long-term concentrate sales, helping to ensure a strong and competitive foundation for the Project as it advances toward construction.
Auramet International Inc. continues to assist with the ongoing structuring of the debt package and engagement with potential lenders and strategic partners. The Company remains focused on advancing all aspects of the Project toward a construction decision and will provide further updates as progress continues.