Bald Mountain
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1% to 4% NSR 123,000 oz (Au) 3,059,000 oz (Au) 861,000 oz M&I¹ / 411,000 oz Inf. (Au) Barrick Gold Corporation |
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Franco-Nevada’s Bald Mountain royalties cover a portion of the 154,500 acre Bald Mountain mine located in White Pine County, 90 miles northwest of Ely, Nevada. Operations began as two separate mines with different owners, initially producing gold in 1981 at Alligator Ridge on the east side of the property, and in 1986 at Bald Mountain on the west side of the property. The property was combined in 1993 by Placer Dome Inc. Historically, Bald Mountain has been operated from multiple small open pits, using multiple heap leach facilities. From 2005 to 2006, Placer Dome, and later Barrick, dramatically expanded reserves and production rates on the entire property. However, in 2007, this trend reversed itself as production dropped due to mine sequencing away from locally higher grade ores in the bottom of the Top pit. Barrick continues to explore the property and region.
The lands over which Franco-Nevada holds its royalty interests, which are primarily situated on the eastern portions of the property, include approximately 18,160 acres that are subject to a 4% NSR on all gold and silver recovered from such portion, of which approximately 50% may be subject to a lower royalty rate until the cap to payments is reached on royalties payable to other parties, and approximately 2,300 acres that are subject to a 2.4% NSR. The conventional open pit – heap leach operation is operated by Barrick.
¹ Measured and indicated resources are exclusive of reserves.