Multiple Finance and Offtake Offers Secured FOR Development of Mabilo Copper- GOLD Project Announcement to the Toronto Stock Exchange and Australian Securities Exchange
Not for release to US wire services or distribution in the United States
MULTIPLE FINANCE AND OFFTAKE OFFERS
SECURED FOR DEVELOPMENT OF MABILO COPPER-
GOLD PROJECT
ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE
AND AUSTRALIAN SECURITIES EXCHANGE
18 JULY 2024
Highlights:
▪ Key development milestone achieved with multiple attractive finance and
offtake offers secured for Stage 1 DSO start-up at Mabilo
▪ All the finance offers include a facility for US$25m together with offtake
arrangements for products on market terms
▪ DSO start -up operation at Mabilo has near term cashflow with nominal
capital, with 94% of net cashflow from 21% supergene chalcocite
▪ Mabilo is a world -class high-grade copper-gold project (CuEq 3.9%), fully
permitted MPSA (mining permit) and ECC
The Board of RTG Mining Inc. (“RTG”, or the “Company”) (TSX Code: RTG, ASX Code:
RTG) is pleased to provide an update on the financing process for the development of
the high-grade Copper and Gold Mabilo Project (“the Project”) in the Philippines . RTG
holds a 40% interest in Mt. Labo Exploration and Development Corporation (“ MLEDC”)
which owns 100% of the Mabilo Project, together with a 2% Net Smelter Royalty.
RTG confirms that following a short due diligence period, MLEDC has received multiple
debt finance and offtake offers to fund 100% of the planned capital expenditure for the
development of Stage 1 of the Project, on attractive terms.
Operational start-up of Stage 1 at Mabilo is a significant milestone for RTG investors,
highlighted by a high-grade Direct Shipping Operation (“DSO”) that will mine, amongst
other products, approximately 100,000t of supergene chalcocite material which runs
in the order of 21% reserve grade copper1.
With all initial finance offers now received, MLEDC will analyse the various term sheets
and seek to optimise the preferred offers, with a view to selecting a final party and moving
to signing binding documentation in the near-term.
1 For the ASX Feasibility Study announcement including JORC tables please refer to the RTG Mining website
(www.rtgmining.com) and on the ASX, under announcements (www.asx.com.au).
Management Commentary:
Commenting on this key development, RTG’s CEO Justine Magee said: “This is a
very important step in the development of the high-grade Mabilo Copper-Gold Project and
places the project in a prime position to capitalise on consensus views of a strong and
improving forecast for copper prices. The offers for 100% finance for Stage 1 CAPEX
also demonstrate the strong economics and cashflow underpinning Mabilo’s
development, with few projects capable of securing such attractive financing terms. RTG
will now focus on securing the most appropriate, non -dilutive funding option to advance
this asset forward.”
ABOUT RTG MINING INC
RTG Mining Inc. is a mining and exploration company listed on the main board of the
Toronto Stock Exchange and the Australian Securities Exchange. RTG is currently
focused primarily on progressing the Mabilo Project to start -up having now received a
mining permit for the Project, with a view to moving quickly and safely to a producing gold
and copper company.
RTG also has several exciting new opportunities including the Panguna Project in
Bougainville, which it remains committed to while also considering further new business
development opportunities.
RTG has an experienced management team which has to date developed seven mines
in five different countries, including being responsible for the development of the Masbate
Gold Mine in the Philippines through CGA Mining Limited. RTG has some of the most
respected international institutional investors as shareholders including Franklin
Templeton, Equinox Partners and Sun Valley.
ENQUIRIES
President & CEO – Justine Magee
Tel: +61 8 6489 2900
Email: [email protected]
US Investor Relations Contact Australia Investor and Media Contact
Jaime Wells: +1 970 640 0611 Sam Burns: +61 400 164 067
[email protected] [email protected]
COMPLIANCE STATEMENT
Date: 18 July 2024
Authorised for release by: By the Board of Directors
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the accuracy or adequacy
of this press release, which has been prepared by management.
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities
legislation including, among others, statements made or implied relating to the interpretation of exploration
results, accuracy of mineral resource an d mineral reserve estimates, parameters and assumptions used to
estimate mineral reserves and mineral resources, realization of mineral reserve and mineral resource
estimates, estimated economic results of the Mabilo Project, future operational and financial results, including
estimated cashflow and the timing thereof, estimated expenditures, expansion, exploration and development
activities and the timing thereof, including expectations regarding the DSO, plans for progressing Stage 2
development, completion of a debt funding package, the negotiation of contracts for start up works and offtake
arrangements and the completion of merged documentation, RTG’s objectives, strategies to achieve those
objectives, RTG’s beliefs, plans, estimates and intentions, and similar statements concerning anticipated
future events, results, circumstances, performance or expectations. All statements, other than statements of
historical fact, included herein, are forward-looking statements. Forward looking statements generally can be
identified by words such as “objective”, “may”, “will”, “expected”, “likely”, “intend”, “estimate”, “anticipate”,
“believe”, “should”, “plans”, or similar expressions suggesting future outcomes or events. Forward -looking
statements involve various risks and uncertainties and are based on certain factors and assumptions. There
can be no assurance that such statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Import ant factors that could cause actual
results to differ materially from RTG’s expectations include uncertainties related to fluctuations in gold and
other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results
and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating
costs, recovery rates, production estimates and estimated economic return; the need for cooperation of
government agencies in the development of R TG’s mineral projects; the need to obtain additional financing
to develop RTG’s mineral projects; the possibility of delay in development programs or in construction projects
and uncertainty of meeting anticipated program milestones for RTG’s mineral proje cts and other risks and
uncertainties as discussed in RTG’s annual report for the year ended December 31, 2023 and detailed from
time to time in our other filings with the Canadian securities regulatory authorities available at
www.sedar.com. The forward‐looking statements made in this announcement relate only to events as of the
date on which the statements are made. RTG will not release publicly any revisions or updates to these
forward‐looking statements to reflect events, circumstances or unanticipated events occurring after the date
of this announcement except as required by law or by any appropriate regulatory authority.
QUALIFIED PERSON AND COMPETENT PERSON STATEMENT
The information in this release that relates to Mineral Resources is based on information prepared by or under
the supervision of Mr Aaron Green, who is a Qualified Person and Competent Person. Mr Green is a Member
of the Australian Institute of Geoscientists and is employed by CSA Global Pty Ltd, an independent consulting
company. Mr Green has sufficient experience that is relevant to the style of mineralisation and type of deposit
under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined
in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves” and to qualify as a “Qualified Person” under National Instrument 43 -101 – Standards of
Disclosure for M ineral Projects (“NI 43 -101”). Mr. Green has verified the data disclosed in this release,
including sampling, analytical and test data underlying the information contained in the release. Mr Green
consents to the inclusion in the release of the matters bas ed on his information in the form and context in
which it appears.
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
This announcement has been prepared for publication in Canada and Australia and may not be released to
US wire services or distributed in the United States. This announcement does not constitute an offer to sell,
or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities
described in this announcement have not been, and w ill not be, registered under the US Securities Act of
1933, as amended (the “US Securities Act”), or any state securities laws, and may not be offered or sold in
the United States except in transactions exempt from, or not subject to, registration under the US Securities
Act and applicable US state securities laws.