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Troilus Mining Corp.: A Quebec gold-copper developer working through financing, permitting and detailed engineering toward a construction decision

Maker Capital Research2026-11-0311 min read
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Gold-Copper Development TSX: TLG | OTCQX: CHXMF | FSE: CM5

P&P reserve
6.69 Moz
Gold, effective Dec 31, 2025 (Sep 9, 2026 release)
Debt commitment
US$850M
Credit-approved letter (Sep 28, 2026)
Cash
C$121,565,934
at Jul 31, 2026 (audited annual FS)
Power allocation
70 MW
Hydro-Quebec and MEIE (Jun 2, 2026)

Three things to know

  1. The updated technical report dated September 8, 2026 reported Proven and Probable reserves containing 6.69 Moz of gold, 568 Mlb of copper and 14.22 Moz of silver, effective December 31, 2025.
  2. On September 28, 2026 the Company reported a credit-approved US$850 million commitment letter from KfW IPEX-Bank and Societe Generale within a planned US$1.1 billion debt package. Conditions precedent remain and it has not closed.
  3. The ESIA filed in June 2025 remains under review. The Company had targeted federal approval in H2 2026 (Jan 8, 2026); its Oct 27, 2026 MD&A gives no date. Subject to approvals and financing, it plans to start construction by end-2027.

Company Profile

Troilus Mining Corp. (TSX: TLG | OTCQX: CHXMF | FSE: CM5) is a development-stage company advancing the Troilus Gold-Copper Project in Quebec. Formerly Troilus Gold Corp., it completed its name change after shareholder approval on December 4, 2025 (December 5, 2025 release).

The project sits at the former Troilus gold and copper mine, approximately 175 kilometres north of Chibougamau, on a 435 square kilometre land position in the Frotet-Evans Greenstone Belt (Annual Information Form, October 27, 2026).

The Company is at the pre-construction stage: Basic Engineering is complete, Detailed Engineering is underway and federal and provincial environmental reviews are ongoing (MD&A for the year ended July 31, 2026).

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