Euro Sun Mining Inc. has entered into a non-binding memorandum of understanding with Macquarie Bank Limited and Trafigura PTE LTD to establish a proposed senior project finance facility of up to US$400 million to support development at the Rovina Valley Gold-Copper Project in Romania.

Under the 18-month mandate, Macquarie and Trafigura will conduct due diligence, shape a financing structure, and seek internal approvals required to deliver a commitment letter for underwriting and syndicating the debt. The arrangement creates a binding agreement on process and exclusivity between the parties, though the facility itself remains conditional on definitive documentation and regulatory approvals.

Alongside the debt talks, Euro Sun agreed to a term sheet with Urion Investments Holdings Limited, a Trafigura Group company, for a US$3 million strategic equity investment. The placement involves issuing approximately 21.5 million units at C$0.19 per unit, with closing expected on or about September 4, 2026. Each unit consists of one common share and one-half of a purchase warrant, with whole warrants exercisable at C$0.40 for 48 months from closing. Proceeds will fund general corporate purposes and work at the project.

The new agreements operate alongside Euro Sun's existing US$200 million commitment from Trafigura, which remains in full force. The Rovina Valley Project in west-central Romania holds European strategic status and ranks as the second-largest copper and gold deposit on the continent.

“The signing of this MoU with Macquarie and Trafigura, alongside the strategic equity investment by Trafigura, represent a significant milestone for the Rovina Valley Project. Together with our existing arrangements, these agreements establish a substantial portion of the financing framework contemplated to advance the Project toward construction, subject to securing the remaining financing, and support our continued commitment to shareholders,” says Grant Sboros, CEO of Euro Sun.

Read the full announcement: Euro Sun Mining Announces Non‑Binding MoU for US$400 Million Senior Debt Facility and Term Sheet for US$3 Million Strategic Equity Investment