ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has taken a significant step toward becoming a near-term gold and silver producer by signing a definitive gold and silver dore purchase agreement with Ocean Partners UK Ltd. The agreement, announced on [date], covers 100% of dore production from ESGold's flagship Montauban Project in Quebec. In exchange, ESGold gains access to a non-dilutive working capital facility of up to C$9 million, providing crucial funding without shareholder dilution.
Gordon Robb, CEO of ESGold, highlighted the importance of this milestone, 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 metals trading, mine finance, and global mining operations,” Robb noted. “Securing a definitive agreement with a group of this caliber significantly strengthens our production strategy and validates the progress our team has made behind the scenes.”
The Montauban Project, located in Quebec, is fully permitted and under construction, with production anticipated in 2026. ESGold is advancing a scalable clean mining model, focusing on sustainable growth. The company follows a dual-track strategy of generating cash flow from production while pursuing exploration for future discoveries. This approach aims to build long-term shareholder value.
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The agreement with Ocean Partners, a globally recognized metals trader and mine financier, provides ESGold with a stable off-take partner and working capital to advance construction. This deal reduces financial risk and underscores the project's viability, positioning ESGold to transition from developer to producer in the near term.
