Triple Flag to acquire Ravenswood gold stream for $440m

Triple Flag Precious Metals' wholly owned subsidiary Triple Flag International has reached an statement to get a golden watercourse connected the Ravenswood Gold Mine successful Australia for an upfront currency information of $440m (C$614.93m).

Located 130km southbound of Townsville, Queensland, Ravenswood is simply a large-scale open-pit golden excavation known for having produced much than 4 cardinal ounces of gold.

The mine's accumulation is expected to scope successful excess of 200,000oz annually by 2028 pursuing a important concern of A$830m ($584m) aimed astatine expanding and upgrading its infrastructure.

Under the presumption of the agreement, Triple Flag volition acquisition 5.50% of the mine's payable gold. Once the excavation delivers 194,200oz, this complaint volition trim to 3.75% and further alteration to 2.50% aft the transportation of 253,000oz.

The institution volition wage 10% of the spot golden terms per ounce until the 194,200oz threshold is met, aft which the outgo volition summation to 20%.

Triple Flag anticipates quarterly golden deliveries opening successful the 3rd 4th of 2026 (Q3 2026) until Q2 2028, with people amounts totalling 22,928oz, capped astatine 8% of existent accumulation per quarter.

The transaction is acceptable to adjacent successful June 2026.

The Ravenswood Mine is jointly operated by EMR Capital and Golden Energy and Resources (GEAR). They person invested much than A$830m since acquiring it successful 2020. The investments included upgrades to the processing works and infrastructure enhancements, ensuring the mine's semipermanent viability.

Triple Flag Precious Metals CEO Sheldon Vanderkooy said: "The Ravenswood watercourse adds contiguous currency travel from a large-scale, long-life cognition located successful a top-tier mining jurisdiction, and is underpinned by 2 years of people golden deliveries."

Funding for the transaction volition travel from Triple Flag's disposable capital, supported by a $1bn recognition installation and a $300m accordion facility.

Ravenswood operates connected a carbon-in-leach process and anticipates a life-of-mine mean betterment complaint of astir 90%.

This determination by Triple Flag reflects its strategical intent to fortify its golden assets portfolio, with the proceeds from the watercourse expected to assistance EMR Capital and GEAR successful indebtedness simplification efforts.

"Triple Flag to get Ravenswood golden watercourse for $440m" was primitively created and published by Mining Technology, a GlobalData owned brand.