RTG holds 40% of Mt Labo Exploration and Development Corp, owner of the high-grade Mabilo copper-gold project in Philippines.
Mabilo is a planned staged development with an initial, direct ship operation having capex of US$21 million.
RTG claims the first 12 months of operations can deliver cashflows in excess of $100 million at commodity prices of $7778 per tonne of copper and $1853 per ounce of gold.
As such debt financing is said to be firmly in the frame.
Current metal pricing sees the project having a net present value of $576 million, a 269% increase in the value of the project from the pricing used in the feasibility study.
RTG started 2021 with A$7.8 million cash.
Shares in RTG closed up 6% Friday on the ASX, and, subsequently, up 25% in Toronto.
At a share price of C20c, RTG is capitalised at $136 million.
