OpenAI to produce its own AI chip with Broadcom from 2026- FT
MONTREAL - Troilus Gold Corp. (TSX:TLG; OTCQX:CHXMF), which maintains a strong financial position with more cash than debt and a healthy current ratio of 2.24, announced Tuesday it has signed a Memorandum of Agreement with German copper smelter Aurubis AG for the long-term offtake of copper-gold concentrate from its Troilus Project in north-central Quebec.
InvestingPro analysis reveals the company has demonstrated remarkable revenue growth of 341.8% in the last twelve months, though analysts anticipate continued development costs will impact profitability this year.
The agreement was executed during the Government of Canada’s Critical Minerals Mission to Germany, attended by Prime Minister Mark Carney, Minister of Energy and Natural Resources Tim Hodgson, and other Canadian and German officials.
This agreement advances the partnership to a more formal stage following indicative terms announced on June 18, establishing commercial terms for a significant portion of Troilus’s concentrate to be delivered to Aurubis.
The deal is progressing alongside Troilus’s broader debt financing package of up to US$700 million announced in March. The company’s liquid assets currently exceed its short-term obligations, positioning it well for this significant financing undertaking.
For investors interested in detailed analysis of mining stocks like Troilus Gold, InvestingPro offers comprehensive financial health scores and over 10 additional ProTips that can help evaluate investment potential in the mining sector.
"Signing this agreement with Aurubis during Canada’s Critical Minerals Mission to Germany is highly significant for Troilus," said Justin Reid, CEO of Troilus Gold.
Minister Hodgson noted the partnership "reinforces Canada’s position as a reliable supplier of responsibly sourced copper and gold" while deepening strategic ties with Germany and the European Union.
Ocean Partners USA Inc. is acting as Troilus’s independent advisor on its concentrate offtake strategy, while Auramet International Inc. continues to assist with debt package structuring.
The Troilus Project, supported by a Feasibility Study completed in May 2024, is planned as a 22-year, 50,000 tonnes-per-day open-pit mining operation. The company holds a 435 km² land position in Quebec’s Frôtet-Evans Greenstone Belt.
This article is based on a press release statement from Troilus Gold Corp.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.