Glossary
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Non-Technical Terms
Certain terms and abbreviations used in this website or otherwise used in the corporate public disclosure are defined below:
“AECO-C” means the Alberta gas trading price at the AECO-C hub.
“AMR” means Advanced Minimum Royalty and is rent paid to the royalty holder prior to the payment of royalties on production. Once production begins, the AMR payments are then credited in full against stream of production royalty payments.
“Cenovus” means Cenovus Energy Incorporated.
“C.I.” or “Company Interest” reserves or values refer to the sum of royalty interest (royalty interest reserves include royalty volumes derived only from other working interest owners) and working interest reserves before deduction of royalty burden payable.
“CIM” means the Canadian Institute of Mining, Metallurgy and Petroleum.
“CIM Definitions” means the CIM Standards on Mineral Resources and Reserves Definition and Guidelines adopted by CIM Council on December 11, 2005, as amended from time to time.
“CNRL” means Canadian Natural Resources Ltd.
“Common Shares” means the common shares of Franco-Nevada.
“Edson Property” means, collectively, those properties located approximately 209 kilometers west of Edmonton, Alberta and encompassing over 26,560 gross acres in which the Royalty Portfolio has a royalty interest.
“Falcondo” means Falconbridge Dominicana, C. Por A.
“FH” means Freehold.
“Franco-Nevada” means Franco-Nevada Corporation.
“Freehold” means an interest in real property.
“GLJ” means GLJ Petroleum Consultants Ltd., independent petroleum and natural gas consultants.
“GLJ Report” means the report evaluating Franco-Nevada’s crude oil and natural gas reserves and the value of future net revenue attributable to such reserves, prepared by GLJ in accordance with the requirements of NI 51-101.
“Goldcorp” means Goldcorp. Inc.
“Goldstrike complex” means the Goldstrike mining complex located in the Carlin Trend gold mining area of northern Nevada.
“Goldstrike Open Pit Mine” means the Betz-post open pit mine located within the Goldstrike complex.
“Goldstrike Report” means the technical report with respect to the Goldstrike complex prepared by SRK.
“Goldstrike Underground Mine” means the underground mine operations covering the Meikle and Rodeo ore bodies located within the Goldstrike complex.
“GOR” means Gross Overriding Royalty and is the right to receive a royalty based on the gross value of the minerals produced with few, if any, deductions therefrom. Usually employed for non-metallic projects.
“GR” means Gross Royalty and is a royalty based on all revenues in cash or in-kind products received by the operator for the sale of product.
“Guide 7” means the mining industry guide entitled “Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations” contained in the Securities Act Industry Guides published by the United States Securities and Exchange Commission, as amended.
“JORC” means the Australasian Code for Reporting of Mineral Resources and Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Mineral Council of Australia, as amended.
“Medicine Hat Consolidated Unit No. 1” means those properties located approximately 257 kilometers southeast of Calgary, Alberta in which the Royalty Portfolio has a royalty interest.
“Midale Unit” means those properties located approximately 40 kilometers southeast of Weyburn, Saskatchewan in which the Royalty Portfolio has a royalty interest and working interest.
“Mineral Royalties” means the royalty interests in precious and base metal properties and certain equity interests owned by Franco-Nevada.
“Newmont” means Newmont Mining Corporation.
“Newmont Capital” means the division formed by Newmont following its acquisition of Old Franco-Nevada.
“NI 43-101” means National Instrument 43-101 — Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
“NI 51-101” means National Instrument 51-101 — Standards of Disclosure for Oil & Gas Activities of the Canadian Securities Administrators.
“NPI” means Net Profit Interest: the profits after deduction of expenses.
“NPI Royalty” has the meaning ascribed to it under “Types of Royalties and Other Interests”.
“NPR” means Net Proceeds Royalties: Which is the profits after deduction of expenses.
“NSR” means Net Smelter Return: Which is the proceeds returned from the smelter and/or refinery to the mine owner less certain costs.
“NSR Royalty” has the meaning ascribed to it under “Types of Royalties and Other Interests”.
“Oil & Gas Interests” means the royalty interests, working interests and oil and natural gas mineral rights in oil and natural gas properties owned by Franco-Nevada.
“Old Franco-Nevada” means Franco-Nevada Mining Corporation Limited and its predecessors, a former owner of certain of the interests in the Royalty Portfolio.
“ORR” has the meaning ascribed to it under “Types of Royalties and Other Interests”.
“Royalty Portfolio” means the Mineral Royalties and Oil & Gas Interests.
“Royalty Subsidiaries” means, prior to January 1, 2008, collectively, Franco-Nevada Australia Pty Ltd, Franco-Nevada Canada Corporation and Franco-Nevada U.S. Corporation, from January 1, 2008 to January 2009, Franco-Nevada Australia Pty Ltd and Franco-Nevada U.S. Corporation, and thereafter, Franco-Nevada Australia Pty Ltd., Franco-Nevada U.S. Corporation, Franco-Nevada Alberta Corporation and Franco-Nevada Mexico Corporation S.A. de C.V.
“SAMREC” means the South African Code for Reporting of Mineral Resources and Mineral Reserves prepared by the South African Mineral Committee under the auspices of the South African Institute of Mining and Metallurgy, as amended.
“Significant Operating Properties” means the oil and natural gas interests on the Edson Property, Weyburn Unit, Midale Unit, Medicine Hat Consolidated Unit No. 1 and Tidewater Interests.
“SRK” means SRK Consulting (US), Inc.
“Stillwater” means Stillwater Mining Company.
“Stillwater complex” means the Stillwater mining complex including the Stillwater mine and the East Boulder mine owned and operated by Stillwater and located in Montana.
“Stillwater Report” means the technical report with respect to the Stillwater complex prepared by SRK.
“Talisman” means Talisman Energy Inc.
“Tidewater Interests” means the 28,900 gross acres of land throughout southern Saskatchewan in the Dollard Unit, Instow Unit, Tidewater Non-Unit, Miscellaneous Tidewater properties and Rapdan Unit in which the Royalty Portfolio has a royalty interest.
“Weyburn Unit” means those properties located approximately 129 kilometers southeast of Regina, Saskatchewan and encompassing 53,360 gross acres in which the Royalty Portfolio has a royalty interest or working interest.
“WI” means working interest.
Back to Non-Technical Terms
TECHNICAL TERMS
“Ag” means the chemical symbol for the element silver.
“Au” means the chemical symbol for the element gold.
“bcm” means bank cubic metres.
“Co” means the chemical symbol for the element cobalt.
“COGE Handbook” means the “Canadian Oil & Gas Evaluation Handbook” prepared jointly by the Society of Petroleum Evaluation Engineers (Calgary Chapter) and the Canadian Institute of Mining, Metallurgy & Petroleum (Petroleum Society), as amended from time to time.
“concentrate” is the product of physical concentration process, such as flotation or gravity concentration, which involves separating ore minerals from unwanted waste rock. Concentrates require subsequent processing (such as smelting or leaching) to break down or dissolve the ore minerals and obtain the desired elements, usually metals.
“contingent recoverable natural gas resources” are those quantities of natural gas estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies such as economic, legal, environmental, political, and regulatory matters, or lack of markets.
“Cu” means the chemical symbol for the element copper.
“De” means the abbreviation for diatomite.
“Fe” means the chemical symbol for iron.
“feasibility study” means a comprehensive study of a mineral deposit in which all geological, engineering, legal, operation, economic, social, environmental and other relevant factors are considered in sufficient detail that it could reasonably serve as a basis by a financial institution to finance the development of a deposit for mineral production.
“flotation” is a process by which mineral particles are induced to become attached to bubbles and float, in an ore and water slurry, so that the valuable minerals are concentrated at the slurry surface and separated from the worthless gangue.
“g/t” means grams per tonne.
“grade” means the concentration of each ore metal in a rock sample, usually given as weight percent. Where extremely low concentrations are involved, the concentration may be given in grams per tonne (g/t) or oz per ton (oz/t).
“H2S” means the chemical compound hydrogen sulphide.
“Indicated Resources” has the meaning ascribed to the term “indicated mineral resource” pursuant to CIM Definitions.
“Inferred Resources” has the meaning ascribed to the term “inferred mineral resource” by CIM Definitions.
“Measured Resources” has the meaning ascribed to the term “measured mineral resource” pursuant to CIM Definitions.
“mineralization” usually implies minerals of value occurring in rocks.
“Mo” means the chemical symbol for the element molybdenum.
“Ni” means the chemical symbol for the element nickel.
“OOIP” means Original Oil in Place, the total quantity of oil estimated to be contained in an accumulation, at a given time.
“ore” means a natural aggregate of one or more minerals which may be mined and sold at a profit, or from which some part may be profitably separated.
“Pb” means the chemical symbol for the element lead.
“Pd” means the chemical symbol for the element palladium.
“PGM” means the platinum group of metals, including but not limited to Palladium, Platinum, Rhodium, Osmium, and Rhenium.
“Probable Reserve” in respect of mineral reserves, means the economically mineable part of an Indicated, and in some circumstances a Measured, Resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.
“Probable Reserves” in respect of oil and natural gas reserves, probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will exceed the estimated proved reserves.
“Proved Reserves” in respect of oil and natural gas reserves, proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.
“Proven Reserve” in respect of mineral reserves, means the economically mineable part of a Measured Resource demonstrated by at least a preliminary feasibility study. This preliminary feasibility study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.
“Pt” means the chemical symbol for the element platinum.
“Reserves” means, collectively, in respect of mineral reserves, Probable Reserves and Proven Reserves, or in respect of oil and natural gas reserves, Probable Reserves and Proved Reserves.
“Resources” means a concentration or occurrence of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals in or on the earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction.
“slurry” is a mixture of water with ores, minerals or chemicals, and is often used in the processing of ores and for the purpose of transportation.
“smelting” is an intermediate stage metallurgical process in which metal is separated from impurities by using thermal or chemical separation techniques.
“waste” is rock which is not ore and usually has to be removed during the normal course of mining to get at the ore.
“Zn” means the chemical symbol for the element zinc.