Business
Triple Flag Precious Metals Acquires Royalties Near Gold Fields’ Salares Norte Project
TORONTO / Dec 24, 2021 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, TSX:TFPM.U) is ple
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / Dec 24, 2021 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, TSX:TFPM.U) is pleased to announce the acquisition for US$4.9 million of three pre-existing 2% net smelter returns (“NSR”) royalties on each of the Aster 2, Aster 3, and Helada properties from a private third party that are proximal to Gold Fields Limited’s (“Gold Fields”) Salares Norte project in Chile. These properties cover prospective exploration ground that Gold Fields has been exploring. The Salares Norte project is currently under construction with anticipated first production in 2023. Once operational, the open pit mine is forecast to have an average annual production of 450,000 gold equivalent ounces per year for the first seven years, decreasing to around 355,000 gold equivalent ounces for the following three years. The royalties include buy-down provisions that would reduce the amount of each NSR royalty from 2% to 1%. The amount to be received by Triple Flag if the buy-down provisions are exercised would be US$2 million for the Aster 2 royalty and US$4 million for each of the Aster 3 and Helada royalties. About Triple Flag Triple Flag’s shares are listed on the TSX under TFPM.U (USD listing) and TFPM (CAD listing). On May 26, 2021 Triple Flag closed its initial public offering (“IPO”), which was the largest TSX-listed mining IPO since 2012 by size and market capitalization, and the largest precious metals IPO globally by market capitalization since 2008. Triple Flag is a gold-focused streaming and royalty company, providing investors exposure to a long-life, diversified and high-quality portfolio of streams and royalties, that generates robust free cash flows. Our business is underpinned by a rigorous focus on asset quality, optionality, sustainability and risk management. We offer bespoke financing solutions to the metals and mining industry. Our mission is to be a sought-after, long-term funding partner to mining companies throughout the commodity cycle. Since our inception in 2016, we have delivered sector-leading growth through the construction of a diversified portfolio of streams and royalties that provides exposure primarily to gold and silver in the Americas and Australia. We have 78 assets, including 9 streams and 69 royalties. These investments are tied to mining asse...