Business
Maverix Metals Executes Silver Stream Agreement on Northern Vertex's Moss Mine
Maverix Metals Executes Silver Stream Agreement on Northern Vertex's Moss Mine Can...
About this update from Mustang Minerals Limited
[{"type":"text","content":"\n\n\n\nMaverix Metals Executes Silver Stream Agreement on Northern Vertex's Moss Mine\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 6, 2018\n\n\n\nVANCOUVER, Dec. 6, 2018 /CNW/ - Maverix Metals Inc. (\"Maverix\" or the \"Company\") (TSX-V: MMX) is pleased to announce that it has executed a definitive agreement, which increases the scope of the previously announced acquisition of a silver stream (the \"Silver Stream\") from a wholly-owned subsidiary of Northern Vertex Mining Corp. (\"Northern Vertex\") (TSX-V: NEE). The Silver Stream now entitles Maverix to purchase 100% of the silver produced from Northern Vertex's operating Moss mine, until a minimum of 3.5 million ounces of silver have been purchased, after which Maverix will be entitled to purchase 50% of the life of mine production. \n\n \n \n\n \nTransaction Highlights\nExpanded Asset Base and Immediate Increase to Cash Flow: With the Moss mine recently achieving commercial production in September 2018, the Silver Stream will generate immediate revenue for Maverix; adding to its already strong and growing cash flow. Low-Cost Operating Asset in Stable Jurisdiction: The Moss mine is on track to become a low-cost open pit mining and heap leach operation, as it continues to optimize post start up. Moss is located in northwest Arizona, a stable mining jurisdiction with a long history of mining operations.Accretive Transaction: The Silver Stream is accretive to Maverix across all key metrics, including net asset value, cash flow, and attributable gold equivalent production per share.Long Mine Life with Significant Exploration and Expansion P...