Justin Reid, President and CEO of Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), joins me for a comprehensive update of many key derisking work programs and infill drilling initiatives at the Troilus Project located in northcentral Quebec, Canada. Additionally, we review again the key metrics from their recent Feasibility Study, and some recent news on the different components coming together for the capital stack to build the project and the timeline to permitting.
We start off discussing the ongoing dewatering work and pumping out of the J4 pit the last few months which will be followed by the dewatering of the larger Z87 in 2025. Justin then discussed the installation of an alternative solar and wind energy generation system at the Troilus site, in collaboration with Tugliq Energie Co, that will augment their hydroelectric power. We also touched up on the importance of infill drilling for gaining higher confidence ounces in the resource and for the mining sequence, as well as near-pit drilling where he touched upon the positive drill results forming part of a 1,866-metre exploratory drill program on its newly discovered “West Rim” VMS (Volcanogenic massive sulfide ore deposit) target, located within 150 metres of the North Reserve Pit Shell.
Next we got into the 4 different LOIs adding up collectively to US$1.3billion that were each announced in November news releases from the German export credit agency (“ECA”) Euler Hermes, the Finland ECA, Finnvera plc and the Swedish export credit agency, EKN, and Export Development Canada (EDC). Justin goes on to explain how they will not need to utilize all those ECA funds, and strikes the balance between those inputs, tradition debt, equity, and royalty or streams that will be coming together to form the capital stack for project construction. This highlights the importance of the copper concentrate components of the copper to these other organizations, even more so than the gold.
Wrapping up we get into the permitting timelines and the ongoing work the company has been doing for years, in tandem with maintaining the already fully permitted areas of the Project. The last big receivable for the permitting will be kicking off soon with a look to receipt back in late 2025, or more likely early 2026 as the final step to then commence the construction.
If you have any questions for Justin regarding Troilus Gold, then please email them over to me at
[email protected].
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