11:55 AM EDT, 06/18/2025 (MT Newswires) -- (Updates shares.)

Troilus Gold ( CHXMF ) said Wednesday it agreed to terms with Germany-based Aurubis for the offtake of copper-gold concentrate to be produced from the Troilus project in Quebec.

Troilus said it expects to execute the final binding offtake agreement following the completion of a previously announced debt financing package of up to US$700 million, which is being structured by a syndicate of global financial institutions.

"This agreement enhances both the technical and financial readiness of the project and reflects the quality of concentrate we expect to produce," chief executive Justin Reid said. "Canada and Germany have a long-standing and collaborative relationship, and we are proud to contribute to that through this strategic alignment."

The offtake terms include anticipated specifications for the concentrate, precious metals payabilities, treatment and refining charges, and applicable penalties for deleterious elements, Troilus said.

Metallurgical test work 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 the company added.

Troilus shares were last seen down $0.02 to $0.71 on the Toronto Stock Exchange

Price: 0.71, Change: -0.02, Percent Change: -2.74