Triple Flag stream financing on the Agbaou and Bonikro gold mines

On August 14, 2024, Triple Flag Precious Metals Corp., through its wholly-owned subsidiary Triple Flag International Ltd. (together, “Triple Flag”) completed its previously announced acquisition of 3% gold streams on each of the Agbaou and Bonikro mines operated by Allied Gold Corp. (“Allied Gold”) for a total cash consideration of US$53 million.

The Agbaou and Bonikro mines are located in Côte d’Ivoire within the Birimian greenstone belt, approximately 20 km apart, and operate as a single complex. On a combined basis, Allied is targeting a production rate of 180,000 to 200,000 ounces per annum and a greater than 10-year mine life from the complex. Its production guidance for 2024 is 85,000 to 95,000 ounces of gold.

Under the terms of the transaction, following the initial US$53 million upfront cash payment, Allied Gold will receive ongoing payments equal to 10% of the spot gold price for a portion of its production. Triple Flag will have the right to purchase 3% of the payable gold related to production at each mine, subject to a step-down to 2% after set delivery thresholds.

Further information can be found on Business Wire’s website.

Allied Gold is a Canadian-based gold producer with a significant growth profile and mineral endowment which operates a portfolio of three producing assets and development projects located in Côte d'Ivoire, Mali, and Ethiopia.

Triple Flag is a pure play, precious-metals-focused streaming and royalty company. It offers bespoke financing solutions to the metals and mining industry with exposure primarily to gold and silver in the Americas and Australia, with a total of 236 assets, including 17 streams and 219 royalties.