Robinson (Gold) - Nevada
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0.225% NSR and approx. 5% NSR above production threshholds 108,119 oz (Au) 772,000 oz (Au) 1,352,000 oz M&I / 24,000 oz Inf. (Au @ 0.40% Cu c/o) Quadra Mining Ltd. |
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The Robinson open pit mining complex is located near Ely, Nevada. Copper, gold and molybdenum are recovered in concentrates that are transported offsite for smelting. The mine is operated by Quadra Mining Ltd. (“Quadra Mining”). There are two royalty agreements covering different portions of the Robinson mine.
Under an agreement purchased from Nerco Exploration Company (“Nerco”), the royalty holder receives a 0.225% NSR on all base-metal and associated precious metal production. The royalty will cease after $17 million has been paid pursuant to the agreement.
Under an agreement purchased from Alta Gold Co. (“Alta”), the royalty holder receives a 10% NSR on 51% of the gold production from the property in excess of 60,000 ounces of gold per year.
In July 2008, Quadra increased its yearly production estimate for calendar 2008 from 100,000 ounces to 115,000 ounces of gold and from 130 million pounds to 150 million pounds of copper. Additionally, because gold production exceeded expectations in 2007, Quadra has initiated technical studies to evaluate methods of improving the accuracy of the estimate of the gold grade in the Veteran pit.