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Troilus Mining Corporation

TSX:TLGLive AI agent

Troilus Mining Corp.

Investor website: https://troilusmining.com/

About

Troilus Mining Corp. is a Canadian mining company headquartered in Montréal, advancing the Troilus Project in north-central Québec. Located on the site of a former producing mine (1996–2010), Troilus is one of Canada's largest undeveloped gold-copper projects. Following nearly a decade of technical, environmental and stakeholder engagement work, the Project is progressing through permitting, detailed engineering and financing as it advances toward construction. Supported by significant existing infrastructure and a secured 70 MW power allocation, Troilus is well positioned for its next stage of development. Beyond developing a mine, we are creating long-term value through responsible development - for our shareholders, employees, Indigenous and local communities.

Verified company data

Cash position
153 M
Shares outstanding
554753658
Fully diluted shares
600377073
Mineral resource
Probable Mineral Reserve estimate totaling 380 million tonnes, grading 0.59g/t AuEq (0.49 g/t Au, 0.058 % Cu and 1.0 g/t Ag) and containing 7.26 million ounces of gold equivalent (6.02 Moz Au, 484 Mlb Cu and 12.15 Moz Ag), reflecting the successful conversion of Indicated and Inferred Mineral Resources. This mineral reserve estimate has an effective date of January 15, 2024, and is based on the mineral resource estimate dated October 2, 2023, for Troilus by AGP Mining Consultants Inc. The Mineral Reserve estimate was completed under the supervision of Willie Hamilton, P.Eng. of AGP, who is a Qualified Person as defined under NI 43-101. Mineral Reserves are stated within the final pit designs based on a US$1,550/oz gold price, US$20.00/oz silver price and US$3.50/lb copper price. An NSR cut-off of C$9.96/t was used to define reserves. The life-of-mine mining cost averaged C$3.99/t mined, preliminary processing costs were C$8.02/t ore and G&A was C$1.94/t ore placed. The metallurgical recoveries were varied according to gold head grade and concentrate grades. 87 pit recoveries for equivalent grades were 95.5%, 94.7% and 98.2% for gold, copper, and silver respectively. J pit recoveries for equivalent grades were 93.1%, 89.3% and 88.9% for gold, copper, and silver respectively. X22 pit recoveries for equivalent grades were 95.5%, 94.7% and 98.2% for gold, copper, and silver respectively. SW pit recoveries for equivalent grades were 85.7%, 91.5% and 85.6% for gold, copper, and silver respectively. The formulas used to calculate equivalent values are as follows, for 87 Pit AuEq = Au + 1.5361*Cu +0.0133 *Ag, for J Pit AuEq = Au + 1.4849*Cu +0.0123*Ag, for SW Pit AuEq = Au + 1.6535*Cu +0.0129*Ag, for X22 Pit AuEq = Au + 1.5361*Cu +0.0133*Ag. Please refer to the identified risks in the Company’s Annual Information Form available under the Company’s profile at www.sedarplus.ca for known legal, political, environmental, and other risks that could materially affect the potential development of the mineral resources and mineral reserves.
Projects
["The Troilus Project is comprised of four main zones of mineralization, which are located on a NE-SW trend covering approximately seven kilometres. These deposits will be mined using conventional open pit mining methods over a 22-year period. Ore will be processed in a flotation mill to produce gold-rich copper concentrate for sale to a smelter, with provision for gravity gold recovery to produce doré after Year 1. The projected payable gold production averages 256,200 oz per year over the first 5 years, 241,200 oz per year for the remaining 17 years, for a LOM average of 244,600 oz per year. Copper payable annual production averages 16.1 million pounds per year for the first five years, 17.7 million pounds per year for the remaining 17 years and 17.3 million pounds for the life of mine average. Silver payable annual production is 475,200 oz per year for the first five years, 438,300 oz per year for the remaining 17 years with a life of mine annual average of 446,700 oz per year. The production profile is shown in Figure 1. Total payable metal over the 22-year mine life is estimated at 5.4 million ounces of gold, 381.8 million pounds of copper, and 9.5 million ounces of silver."]
Leadership
Chantal Lavoie (Chairperson & Independent Director, Professional Mining Engineer with over 35 years of experience in mining operations, permitting, construction, and executive leadership. Former COO of Iron Ore Company of Canada.), Justin Reid (President & CEO, Director, Geologist and capital markets executive with over 20 years of experience in the mineral resource space. Former Managing Director Global Mining Sales at National Bank Financial.), François Biron (Independent Director, Senior professional mining engineer with over 40 years of experience in mining operations. Former General Manager of the Troilus Mine for Inmet Mining Corporation.), Diane Lai (Independent Director, Executive and entrepreneur with 20+ years of global marketing and product management experience in the technology sector. Former Vice President of Marketing and IT for Yellow Pages Media.), Brigitte Berneche (Independent Director, CPA, CA, ICD.D with 15 years of experience in public companies in the mining and publishing sectors. Founder of a non-profit organization for families with children with cerebral palsy.), Hon. Pierre Pettigrew (Independent Director, Distinguished career in public and private sectors, former Member of Parliament and Minister in Canadian federal governments.), Thomas Olesinski (Independent Director, CPA, CMA with over 20 years of finance and management experience. Currently serves as Chief Financial Officer of Lithium Ionic Corp.)

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