Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FSE: CM5R) has made a significant move in its development strategy by appointing Andy Fortin as the new Vice President of Operations and General Manager of the Troilus Mine. This strategic appointment comes at a crucial time as the company transitions its Troilus Project into the development phase, setting the stage for future operations.
Andy Fortin brings a wealth of experience to Troilus, with over 28 years in mineral processing and project management. His previous tenure at the Troilus Mine during its operation under Inmet Mining from 1996 to 2008 equips him with deep insights into the project’s intricacies. Fortin held several key roles during this period, including Chief Metallurgist and Process & Maintenance Plant Manager, where he successfully led initiatives such as the mill expansion from 10,000 to 20,000 tons per day.
His extensive background also includes leadership positions at Goldcorp’s Éléonore Mine and Agnico Eagle’s Meadowbank Mine, where he was recognized for his commitment to operational excellence and sustainability. Justin Reid, CEO of Troilus, expressed confidence in Fortin’s ability to drive the company forward, stating that his familiarity with the site and expertise will be instrumental as Troilus prepares for production.
In addition to leadership changes, Troilus has reported substantial advancements in its operational activities. The company has made significant strides in its pit dewatering program, which is critical for preparing the site for development. Currently, three 140Hp pumps are actively dewatering the J4 pit, with plans to commence dewatering of the larger Z87 pit in 2025. To date, over 2 million cubic meters of water have been successfully pumped out of the J4 pit.
Troilus is also making headway in its Environmental and Social Impact Assessment (ESIA), having recently completed final community consultations with local Jamesian and Cree communities. The company aims to submit the ESIA report to Quebec’s Ministry of Environment in early Q1 2025, marking another step towards regulatory compliance and community engagement.
In addition, Troilus has reached a pivotal milestone by securing Letters of Intent (LOIs) from multiple global Export Credit Agencies (ECA), totaling approximately US$1.3 billion in support for project financing. This includes significant commitments from Euler Hermes (US$500 million), Export Development Canada (US$300 million), Finnvera (US$300 million), and EKN (US$200 million). These LOIs underscore the robust economic fundamentals of the Troilus Project and provide a solid foundation for a multifaceted financing strategy.
As Troilus Gold moves forward with its ambitious plans for the former gold and copper mine located in Quebec’s Frôtet-Evans Greenstone Belt, it is positioned to capitalize on its substantial land position of 435 km². The recently completed Feasibility Study supports a large-scale mining operation projected to last 22 years, reinforces Troilus’s status as one of North America’s cornerstone copper-gold projects.
