GOLD: Barrick sells Hemlo royalties to Mineral Streams

ONTARIO – Mineral Streams of Toronto has acquired two gold royalties on the output from Barrick Gold's Hemlo complex near Marathon, 350 km east of Thunder Bay. The first is a 0.25% net smelter return on the Williams mine. The other is a...

Topics

Commodities

Regions

Tags

Companies

ONTARIO – Mineral Streams of Toronto has acquired two gold royalties on the output from Barrick Gold's Hemlo complex near Marathon, 350 km east of Thunder Bay. The first is a 0.25% net smelter return on the Williams mine. The other is a 1.5% NSR on the David Bell mine.

This is Mineral Streams' first royalty investment, and it paid $252,000 in Q4 2013.

Will Ansley, COO of Mineral Streams, said, "The Hemlo complex is located in a top tier geopolitical jurisdiction and has been in production for decades with recovered gold exceeding 25 million ounces. Over the past five years Hemlo has produced between 200,000 and 275,000 ounces of gold annually and based on existing reserves we anticipate the complex will continue to operate for at least another five years and, as demonstrated in the past, has the opportunity to be extended further."

Mineral Streams is a private company with a website at MineralStreams.com.

Comments

Your email address will not be published. Required fields are marked *

Apr 08 2024 - Apr 09 2024
Apr 15 2024 - Apr 16 2024
Apr 16 2024 - Apr 16 2024
Apr 17 2024 - Apr 18 2024