One of the best ways for a gold stock, like Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), to gain bigger exposure is with the help of global investment managers like VanEck Associates – one of the most influential institutional investors in the precious metals and junior mining sectors. Known for identifying long-term investment trends, most notably with precious metals, VanEck’s involvement with Troilus Gold Corp. is a significant endorsement of its value potential and will help expose it to a greater investment audience. Troilus Gold is currently advancing one of Canada’s largest undeveloped gold-copper deposits towards production.
In late 2024, Troilus announced the receipt of four LOIs totaling $1.3B of in-principle financial support from prominent export credit agencies from Germany, Canada, Sweden and Finland. This was a strong demonstration of the Troilus Project being a highly financeable copper-gold asset capable of providing reliable, long-term supplies of critical minerals to meet rising global demand. As financing a development-stage project is always one of the largest risks, this was an important announcement that was very well received by the market. Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) shares at up 18% since then.
Not only does VanEck’s involvement bring more attention to Troilus Gold, but also to Freeport-McMoRan (NYSE: FCX), Centerra Gold (NYSE: CGAU) (TSX: GG), Barrick Gold (NYSE: GOLD) (TSX: ABX) and Newmont Corp. (NYSE: NEM) (TSX: NGT).
Troilus Gold (TSX: TLG) (OTCQX: CHXMF) Received a $5.8 Million Investment from VanEck
Troilus Gold Corp. announces that it has completed a non-brokered private placement of approximately CAD$5.8 million to funds managed by VanEck Associates Corporation, a globally recognized investment management firm known for its forward-looking approach to identifying investment trends and one of the most influential institutional investors in the precious metals and junior mining sectors.
The Offering consisted of 16,478,900 common shares of the Company (the “Shares”) at a price of C$0.35 per share, representing a 1.45% premium to the five-day volume-weighted average price of C$0.345 as of January 29, 2025. Following the closing of the Offering, the accounts managed by VanEck now hold approximately 4.3% of Troilus’s total issued and outstanding shares, further aligning itself with the Company’s long-term growth and development. The net proceeds of the Offering shall be used for general corporate and working capital purposes. The securities issued are subject to a regulatory hold period that expires on June 7, 2025.
VanEck’s participation in this Offering is a powerful endorsement of the Troilus Project’s quality, value potential, and long-term scalability, further strengthening the Company’s position as it advances toward construction and future production.
Justin Reid, CEO of Troilus, commented “We are pleased to welcome VanEck as a strategic investor in Troilus. Their investment is a strong endorsement of the Troilus Project’s quality and its potential to become a cornerstone Canadian mining operation. As one of the most respected institutional investors in the gold sector, VanEck’s support further strengthens our position as we advance toward construction.”
VanEck is a leading global investment manager, offering both active and passive strategies across various structures, including ETFs, mutual funds, and institutional portfolios. The firm is known for identifying long-term investment trends, including its early recognition of gold’s transformative potential as an asset class.
The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Other related developments from around the markets include:
Freeport-McMoRan reported fourth-quarter 2024 net income attributable to common stock of $274 million, $0.19 per share, and adjusted net income attributable to common stock of $450 million, $0.31 per share, after excluding net charges totaling $176 million, $0.12 per share. Richard Adkerson, Chairman of the Board, and Kathleen Quirk, President and CEO, said, “We enter 2025 with a clear focus on continued strong execution of our operating plans, enhancing productivity, managing costs and capital, and advancing opportunities for long-term profitable growth and value creation. Our global team delivered solid results in 2024 and we are strongly positioned for the future with high-quality, large-scale copper assets, attractive organic growth options, successful track record of our team and a strong balance sheet. Copper’s role in the global economy is increasingly important and Freeport is well positioned for the future as a global industry leader.”
Centerra Gold reported its third quarter 2024 operating and financial results. President and CEO, Paul Tomory, commented, “Centerra continues to deliver consistent operating performance and is on track to meet our consolidated production and cost guidance for the year. We have benefited from margin expansion driven by stable cost performance in an elevated metal price environment. As planned, we have returned to strong free cash flow generation in the third quarter. Even after spending approximately $32 million on the restart of operations at the Thompson Creek mine, we grew our cash and cash equivalents to $604 million at the end of the third quarter. We increased our share buybacks in the third quarter to $12 million, and declared a quarterly dividend, delivering on our disciplined approach of returning capital to shareholders.
Barrick Gold reaffirmed its commitment to Zambia’s economic growth, contributing over $3.7 billion since 2019. In 2024 alone, Lumwana’s operations contributed $887 million to the economy through royalties, taxes, salaries and procurement of goods and services, solidifying its position as one of the nation’s top five taxpayers. Copper production for 2024 was within guidance, supported by investments in operator training and an upgraded ultra-class fleet. Lumwana remains a leader in advancing local content, with 72% of the $906 million spent on goods and services in 2024 going to Zambian suppliers and contractors. This brings the total spend on local goods and services to $2.5 billion since 2019. The company’s Business Accelerator Programme is further building capacity, targeting 150 SMEs to support the upcoming Superpit expansion.
Newmont Corp. announced that it has agreed to sell its Porcupine operation in Ontario, Canada to Discovery Silver Corp. for up to $425 million in total consideration. Upon closing the sale of the Porcupine operation and the previously announced transactions, Newmont will deliver up to $4.3 billion in total proceeds from non-core asset divestitures and investments.
The transaction is expected to close in the first half of 2025, subject to certain conditions being satisfied.1 Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $425 million. “Today’s announcement represents a significant milestone for Newmont as we have agreed to sell the final non-core operation from our divestiture program. The sale is part of Newmont’s ongoing program to divest non-core assets as we make a strategic shift to focus on our Tier 1 assets,” said Tom Palmer, Newmont’s President and Chief Executive Officer. “We have full confidence that Discovery’s leadership team will continue to operate Porcupine responsibly, leveraging their extensive experience and history in the area. Including the Porcupine divestiture, we expect to generate up to $4.3 billion in total proceeds from the announced sales of our high-quality non-core assets and investments, enabling us to further reduce debt and return capital to shareholders.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Troilus Gold Corp by Troilus Gold Corp. We own ZERO shares of Troilus Gold Corp. Please click here for disclaimer.
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