ESGold Secures Doré Purchase Agreement and Up to C$9 Million Non-Dilutive Facility for Montauban Project
ESGold Corp. has entered into a definitive gold and silver doré purchase agreement with Ocean Partners UK Ltd., securing a non-dilutive working capital facility of up to C$9 million to advance its Montauban Gold-Silver Project toward production.
ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) announced today that it has entered into a definitive gold and silver doré purchase agreement with Ocean Partners UK Ltd., a global metals trading and mine finance group. Under the agreement, Ocean Partners will purchase 100% of the doré production from ESGold's Montauban Gold-Silver Project in Québec. Additionally, ESGold gains access to a non-dilutive working capital facility of up to C$9 million to support its transition toward near-term production.
The agreement is a significant milestone for ESGold as it progresses its flagship Montauban project, which is fully permitted and under construction, with production anticipated in 2026. The non-dilutive facility provides ESGold with crucial funding without diluting existing shareholders, a key advantage for the company as it moves toward becoming a producer. The facility can be used to finance working capital needs, equipment, and other costs associated with bringing the mine into operation.
Ocean Partners UK Ltd. is an established player in the metals trading and mine finance sector, and its involvement provides ESGold with a reliable offtake partner. The agreement also strengthens ESGold's financial position and de-risks the project's path to production. By securing a buyer for its future doré output, ESGold can better plan its production schedule and cash flow projections.
The Montauban Gold-Silver Project is a key asset for ESGold, which describes itself as a fully permitted, pre-production mining company advancing a scalable clean mining model across North and South America. The company has a dual-track strategy of generating cash flow from near-term production while pursuing exploration for discovery. With this agreement, ESGold is taking a concrete step toward realizing that vision.
For investors, the agreement signals that ESGold is making tangible progress toward becoming a revenue-generating company. The non-dilutive nature of the facility is particularly attractive, as it avoids the dilution that would come with equity financing. The facility of up to C$9 million provides a substantial buffer to cover costs as construction continues.
The full press release is available at https://nnw.fm/VpFFx. More information about ESGold Corp. can be found in the company's newsroom at https://nnw.fm/ESAUF.