Triple Flag acquires royalties near Gold Fields’ Salares Norte gold-silver project in Chile
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(Kitco News) - Triple Flag Precious Metals (TSX:TFPM) today announced the acquisition for US$4.9 million of three pre-existing 2% NSR royalties on each of the Aster 2, Aster 3, and Helada properties from a private third party that are proximal to Gold Fields’ Salares Norte project in Chile.
In a statement, the company said that these properties cover prospective exploration ground that Gold Fields has been exploring.
The Salares Norte high-sulphidation epithermal gold-silver project is currently under construction with anticipated first production in 2023.
Once operational, the open pit mine is forecast to have an average annual production of 450,000 gold equivalent ounces per year for the first seven years, decreasing to around 355,000 gold equivalent ounces for the following three years.
Triple Flag is a gold-focused streaming and royalty company. The company has 78 assets in the Americas and Australia, including 9 streams and 69 royalties.
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