RTG Mining Inc. Secures Financing for High-Grade Mabilo Project

RTG Mining Inc. announces a strategic partnership with Glencore International AG to finance Stage 1 of the Mabilo Copper-Gold Project. This collaboration includes a binding term sheet for a $30 million financing facility and offtake agreement. The funding will be disbursed in three tranches, covering 100% of development and additional costs. Tranche A offers $3.5 million for early-stage funding, while Tranches B and C provide $21.5 million and $5 million, respectively, for further development and working capital.

The terms cater to offtake agreements for all Stage 1 products, ensuring market-based terms. Stage 1 aims to mine 100,000 tonnes of supergene chalcocite with a 21% reserve grade copper. RTG expects to gain 50% of project cash flow, factoring in debt repayment, net smelter return, and net profits.

The Joint Venture foresees an annual production of 18,400 tonnes of copper and 66,800 ounces of gold during Stage 2. Despite early drilling termination, further exploration may expand project scale significantly.