ESGold Corp. Secures $9 Million Non-Dilutive Financing Through Gold and Silver Dore Purchase Agreement with Ocean Partners
ESGold Corp. has entered a definitive agreement with Ocean Partners UK Ltd. to sell 100% of its dore production in exchange for a non-dilutive working capital facility of up to C$9 million, marking its transition from development to near-term producer.
ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has announced a definitive gold and silver dore purchase agreement with Ocean Partners UK Ltd., a significant milestone that positions the company as a near-term producer. Under the agreement, Ocean Partners will purchase 100% of ESGold's dore production from its flagship Montauban Project, providing the company with a non-dilutive working capital facility of up to C$9 million.
The deal allows ESGold to avoid equity dilution while securing upfront capital to advance its operations. Delivery of the dore will be made ex-works (EXW) at the Montauban Project mine site, with Ocean Partners responsible for collection and related logistics. Pricing will be based on prevailing LBMA or COMEX market prices, ensuring transparency and alignment with global benchmarks.
ESGold CEO Gordon Robb highlighted the importance of the agreement, stating that it marks the company's evolution from a development-stage entity to a near-term producer. “Ocean Partners is an internationally respected organization with extensive experience across the mining and metals sector,” Robb said. The partnership is expected to accelerate ESGold's path to production at the Montauban Project, which is located in Quebec, Canada.
The Montauban Project is a past-producing gold and silver mine, and ESGold has been focused on its redevelopment. The working capital facility will support ongoing activities, including mill refurbishment and mine preparation. By securing off-take and financing from a single counterparty, ESGold reduces counterparty risk and streamlines its path to cash flow.
Ocean Partners UK Ltd. is a global metals trading and marketing firm with expertise in off-take agreements and working capital solutions for mining companies. This agreement underscores growing interest in precious metals projects as investors seek exposure to gold and silver amid economic uncertainty.
For more information on ESGold Corp., visit the company's newsroom at https://ibn.fm/ESAUF. Additional details on the agreement can be found at https://ibn.fm/deTSj.