Multiple Finance and Offtake Offers Secured for Development of Mabilo Copper-Gold Project

RTG Mining Inc. has achieved a key development milestone with multiple finance and offtake offers secured for the Stage 1 DSO start-up at Mabilo. All finance offers include a facility for USD 25 million together with market-based offtake arrangements. The Mabilo project, known for its high-grade copper-gold reserves, has near-term cashflow potential with minimal capital requirements.

The Board of RTG Mining Inc. announced that MLEDC has received offers to fund 100% of the planned capital expenditure for Stage 1 of the project. The start-up operation will mine approximately 100,000 tonnes of supergene chalcocite material with a 21% reserve grade copper.

MLEDC will now analyze the term sheets to optimize the offers, aiming to select a final party and move towards signing binding documentation.