Talisker Resources has secured an equipment financing facility of up to $11 million to fund ore sorting and processing equipment for the Bralorne Gold Project in southern British Columbia. The financing was arranged through Talisker’s wholly owned subsidiary, Bralorne Gold Mines, under a loan agreement with Two Shores Capital.
The facility is structured as a delayed-draw term loan, allowing Bralorne to access capital in stages as equipment purchase milestones are reached.
An initial advance of $2.4 million will reimburse deposits that Bralorne previously paid to equipment vendors.
The remaining $8.6 million will be available in one or more tranches to fund additional equipment purchases.
Talisker said the new equipment is central to its planned processing strategy at Bralorne.
Ore sorting technology is designed to separate higher-value mineralized material from lower-grade or waste rock before conventional processing.
This approach can reduce the volume of material that must pass through the processing plant, potentially lowering costs and improving operating efficiency.
The facility has a 36-month term beginning at closing.
Talisker will make blended monthly payments of principal and interest that fully amortize the drawn amount over the term.
The loan carries an annual interest rate of 14% on amounts drawn.
Two Shores will also receive a closing fee equal to 1% of each advance, with the fee withheld from the proceeds.
Talisker may repay the financing in whole or in part with seven business days’ notice.
Any prepayment is subject to Two Shores receiving a minimum return equal to 1.10 times its invested capital.
The facility is secured through a first-priority purchase money security interest limited to the financed equipment and related insurance proceeds.
The security package also includes a performance bond of up to $5 million from a Canadian surety and a guarantee from Talisker.
The financing does not place a charge on the Bralorne Gold Project’s mineral claims or other project assets.
Talisker said this structure allows the company to fund the equipment without issuing equity or encumbering the broader project.
The loan agreement also contains customary covenants, representations, funding conditions and events of default.
Talisker is advancing the Bralorne Gold Project toward a preliminary economic assessment expected later in 2026.
A preliminary economic assessment provides an early review of a mineral project’s potential economics, including expected production, capital requirements, operating costs and development options.
Bralorne is Talisker’s flagship asset and is described by the company as a high-grade, fully permitted gold project.
Talisker is currently producing at the project’s Mustang Mine.
The company is also advancing the Ladner Gold Project near Hope, British Columbia, and maintains a substantial land position in the Spences Bridge Gold Belt.
The $11 million facility provides Talisker with dedicated capital to acquire equipment while preserving access to its mineral assets as it continues development work at Bralorne.
KEY QUOTE:
“This facility provides non-dilutive capital for the ore-sorting and processing equipment that is central to our processing strategy at the Bralorne Gold Project. Structuring the financing against the equipment itself, with no encumbrance on our mineral tenure, preserves the strength of our balance sheet as we advance toward our Preliminary Economic Assessment later this year.”
Terry Harbort, President and CEO of Talisker Resources
