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Finnvera eyes up to $132M export credit support for Troilus project
The non-binding letter of interest is tied to equipment procurement for the gold-copper project in Québec and links to an estimated $155M export transaction.
Troilus Mining said it has received a non-binding letter of interest from Finnvera for up to $132 million in potential export credit support connected to equipment acquisition for its gold-copper project in Québec.
The export credit agency letter is tied to Troilus's recent Metso selection for mineral processing, with Metso expected to support the first phase of equipment procurement for the project, according to Mining.com.
Troilus said Finnvera's involvement would provide another long-term financing avenue as the company advances toward construction, and that the support could cover up to 85% of the value of eligible goods and services imported into Canada, up to $132 million based on the estimated transaction value.
The company also noted that Finnvera may support a financing structure where an eligible commercial bank provides funds with Finnvera's official export credit agency support, and that any financing is subject to customary due diligence and final approvals.
Latest closeGold $4,666.20 ▲0.6%|Copper $6.713 ▲0.0%