en.Wedoany.com Reported - Triple Flag Precious Metals has acquired a gold stream interest from the Ravenswood Gold Mine in Queensland, Australia, for a prepaid cash consideration of $440 million. Under the agreement, Triple Flag is entitled to purchase 5.50% of the payable gold from the mine, which will decrease to 3.75% after the delivery of 194,200 ounces of gold, and further reduce to 2.50% after an additional delivery of 253,000 ounces. The first gold delivery is expected to commence in the third quarter of 2026.

The Ravenswood Gold Mine is a large-scale open-pit operation, with cumulative historical and modern production exceeding 4 million ounces of gold. Current mining activities are focused on the Buck Reef West and Sarsfield-Nolans deposits, which still offer significant in-pit exploration potential. The mine is expected to produce over 200,000 ounces of gold annually after its ramp-up in 2028.

Sheldon Vanderkooy, CEO of Triple Flag, stated that the Ravenswood gold stream will become a key growth asset for the company, raising its 2030 outlook from 140,000 to 150,000 gold equivalent ounces to 150,000 to 160,000 gold equivalent ounces. He noted that milestones achieved by the company's assets in the first six months of this year support further growth beyond 2030, including a positive construction decision at Hope Bay, positive economic studies at Arthur and Kemess, and progress on the mill expansion at Northparkes, which could add 10 tonnes or more per year. These growth opportunities come from assets in mining-friendly jurisdictions such as the United States, Canada, and Australia, and will create value for shareholders over the coming decades.

Triple Flag will make ongoing payments at 10% of the spot gold price per ounce delivered until 194,200 ounces are delivered, after which payments will increase to 20%. The gold stream covers all existing mining and exploration permits at the Ravenswood Gold Mine, with prospective exploration areas spanning over 1,800 square kilometers. Long-term exploration prospects within the region include Mingela, Mt Success, Trieste, and Helena.

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