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Bullboard - Stock Discussion Forum Troilus Gold Corp T.TLG

Alternate Symbol(s):  CHXMF

Troilus Gold Corp. is a Canadian mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. The Company owns a 100% interest in the Troilus project. The Company holds a land position of approximately 435 square kilometers (km2) in the mining jurisdiction of Quebec, Canada, within the prospective Frotet-Evans Greenstone Belt... see more

TSX:TLG - Post Discussion

Troilus Gold Corp > Additional Comments
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Post by AlwaysLong683 on Mar 14, 2024 1:20am

Additional Comments

How is TLG going to raise the $800M - $1B capex (my bet is $900M+) to go it alone without absolutely blowing out its share count and massively diluting existing shareholders? Any current shareholders on this BB want an equity raise of 300M new shares (doubling the existing 300M fully diluted shares outstanding to total 600M) at around $0.55 for a company at this stage of the process...? Even if they did this raise, it would only net the company around $160M. Debt / Copper Offtake / Streaming / Royalty will not get you there, and JR seems to want to avoid new streaming / royalty agreements anyway.

Management is critical in this sector, especially when building that first operation. Mines are very capex intensive / expensive to build, even with existing infrastructure, and costs can easily get out of hand, requiring more financing to make it to construction. Without TLG's existing infrastructure, I suspect this project would be deemed uneconomical and not be built at all. MREs and FSs are not as tough to pull off as completing financing / contracting / permitting in a timely manner and on good terms that stay true to your FS capex estimates.

I'm even more content to stay on the sidelines and watch how the company proceeds during the rest of 2024 given they are already quite a bit behind schedule from what JR was stating back in October.
Comment by AlwaysLong683 on Mar 14, 2024 1:45am
One last point: Quote from JR's Pre-PDAC 2024 presentation at the end of February / Early March 2024: "Our Feasibility will be out imminently...." Ecerpt from MD&A released after market close on March 7, 2024: "The Company is currently...undertaking the preparation of a full definitive feasibility study, including an inaugural Mineral Reserve estimate, which is expected to ...more  
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