Thursday, October 2, 2025

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

FULL DISCLOSURE: ESGold Corp is a sponsor of theDeepDive.ca.

ESGold Corp (CSE: ESAU) has secured non-dilutive funding to advance their flagship Montauban gold-silver project in Quebec. The funding comes from Ocean Partners UK, a renowned name within the mining industry.

The funding comes in the form of a prepayment and working capital facility, which will provide ESGold with up to $9 million across two tranches to support the completion of the Montauban processing facility and to provide working capital.

“This agreement with Ocean Partners is an important step forward for ESGold. We are very pleased to partner with such a first-class global group, and this facility significantly strengthens our financial position and provides additional financial flexibility as we advance Montauban. Ocean Partners’ support ensures that debt obligations will be serviced through operating cash flow rather than equity dilution, while establishing a stable long-term sales channel for the gold and silver dore produced from Montauban,” commented Gordon Robb, CEO of ESGold on the announcement.

READ: ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

The arrangement will see the first $3 million tranche become available three months prior to anticipated phase 1 production, while a second $6 million tranche will be available five months prior to phase two production. Phase one production is anticipated to occur in February 2026, while phase two production is slated for March 2027.

Repayment is to take the form of dore deliveries, while the interest rate will consist of the 3 month secured overnight financing rate plus 7% per annum, plus an arrangement fee of 1%. Ocean Partners has also agreed to purchase 100% of gold and silver dore production from the Montauban tailings and crown pillar material, subject to minimum deliveries of 50,000 ounces of gold and 1.0 million ounces of silver. Pricing on that offtake will be based on LBMA/COMEX settlement rates.

“The Montauban project is exactly the type of innovative opportunity in which we like to be involved. ESGold has found an economically viable path forward for precious metal production from tailings and surface rock. We are very pleased to form a long-lasting partnership with the ESGold team and are excited about the long-term potential in this area of Quebec,” commented Brent Omland, CEO of Ocean Partners.

Completion of construction at Montauban is currently targeted for mid Q4 2025, while concentrate test results are expected in the coming weeks.

ESGold last traded at $0.98 on the TSX Venture.


FULL DISCLOSURE: ESGold Corp is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is long the equity of ESGold Corp. The author has been compensated to cover ESGold Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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