The Gabelli Gold Fund, Inc. on Troilus Gold Corp.
Thesis
Troilus owns a large open-pit gold, copper, and silver project in Quebec with existing infrastructure and access to low-cost hydropower. Development-bank financing arrangements and a potential silver stream provide multiple funding options for construction. Gabelli expects the mine to become a low-cost producer and significant free-cash-flow generator once in production.
“Once in production, the mine will be a low-cost producer and significant free cash flow generator.”
Key risks
- The project is not yet in production