Business
Triple Flag Precious Metals: Steppe Gold Publishes ATO Feasibility Study; Mine and Stream Life Extended by 10.5 years from 2024 to 2034
TORONTO / Nov 01, 2021 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag”) (TSX:TFPM, TSX:TFPM.U) is pleased to report th
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / Nov 01, 2021 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag”) (TSX:TFPM, TSX:TFPM.U) is pleased to report that its partner Steppe Gold Ltd. (TSX: STGO) (OTCQX:STPGF) (FSE:2J9) (“Steppe Gold”) announced on October 26 the positive results of the Feasibility Study on the ATO gold mine in Mongolia, focused primarily on the 10.5 year expansion from the fresh rock ore (“Phase 2 Expansion”) following depletion of the producing oxide phase in 2 years (the “Feasibility Study”). The Phase 2 Expansion materially extends the life of Triple Flag’s gold and silver stream by more than a decade, for no incremental investment by Triple Flag. All dollar references are in United States dollars. The Phase 2 Expansion is a low-risk project with construction already underway (a new 2.5 million tonnes per annum crusher is currently being installed) and existing permitting and infrastructure in place. After constructing the ATO oxide phase heap leach project that went into production in 2020, Steppe Gold boasts a proven management team well versed in constructing a mine in the region. Steppe Gold has reported that it is in advanced discussions with project lenders for debt financing. Triple Flag’s Founder and CEO, Shaun Usmar, commented, “We want to extend our gratitude and congratulations to the entire Steppe Gold team on the excellent Phase 2 Expansion results and the rapid progress made on this exciting project. This project will bring further significant investment to the region, generating more jobs and providing economic benefits to the local region and Mongolia, while creating strong returns for Steppe Gold and Triple Flag shareholders. This stream showcases Triple Flag’s ability to source and secure transactions on high-quality mining projects led by great partners around the globe, deploy our broad technical and commercial expertise, and work hand-in-hand with mining companies to deliver value to all stakeholders. We are working with the Steppe Gold management team to meaningfully contribute to their impressive community programs in education and beyond.” Summary of the Feasibility Study1 Stepp Gold announced the following highlights from its Feasibility Study: Pre-Tax NPV (5%) of $320 million with an IRR of 109% and a Post-Tax NPV (5%) of $232 million with an IRR of 67%, driven by payback of...