Franco-Nevada closes US$165 million gold and silver stream with Southern Peaks Mining
On March 8, 2021, Franco-Nevada closed a US$165 million precious metals stream with Southern Peaks Mining LP (“SPM”) with respect to gold and silver production from the Condestable mine, an operating underground copper-gold-silver mine near Lima, Peru. Effective January 1, 2021, Franco-Nevada will receive deliveries of 8,760 ounces of gold and 291,000 ounces of silver annually until ;December 31, 2025, followed thereafter by variable deliveries based on a percentage of gold and silver in concentrate. Franco-Nevada will pay 20% of the spot price for gold and silver for each ounce delivered under the stream agreement.
Further information can be found on Globe Newswire’s website and Canada Newswire’s website.
Franco-Nevada is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets.
SPM is a Peruvian copper company that operates Condestable, the 2nd largest underground mine in Peru, and is developing Ariana, a low-cost Peruvian copper project.