Troilus Gold agrees to commercial offtake terms with Boliden

Troilus Gold (CHXMF) announce that is has agreed to indicative commercial offtake terms with Boliden Commercial (BDNNY) for the sale of copper-gold concentrate expected to be produced from the Company’s Troilus Project in north-central Quebec, Canada. Boliden is a leading global base and precious metals company that operates seven mines and five smelters throughout Sweden, Finland, Norway, Ireland and Portugal. This agreement marks the second offtake arrangement for Troilus, following the recently announced agreement with Aurubis. Together, these partnerships further validate the quality of Troilus’ anticipated concentrate and highlight the Project’s strategic importance within the European critical minerals supply chain. As outlined in the Company’s May 2024 Feasibility Study, the Troilus Project is expected to produce an annual average of approximately 135.4M pounds of copper equivalent, or 75,000 wet metric tonnes of concentrate containing payable copper, gold, and silver. The final binding offtake agreements with both Boliden and Aurubis are expected to be executed in connection with the completion of the Project’s broader $700M debt financing package, announced on March 13, 2025. This financing is being structured by a syndicate of global financial institutions, including Societe Generale, KfW IPEX-Bank, and Export Development Canada, and is expected to include support from various European export credit agencies including Finnvera, the official Export Credit Agency of Finland, and from EKN, the Swedish Export Credit Agency, tied to equipment procurement and long-term offtake agreements. The indicative offtake terms include expected specifications for concentrate quality, payabilities on precious metals, treatment and refining charges, and penalties for deleterious elements. Metallurgical testwork conducted to date, along with historical data from the prior operation, indicates that no penalties are anticipated outside the thresholds outlined in the agreement.