Operator: Yamana Gold Inc.
Royalty: NSR: 2%
In March 2014, Franco-Nevada entered into an agreement to acquire a 2% NSR on the Cerro Moro project currently being advanced by Yamana. Cerro Moro is located in the Santa Cruz Province of Argentina. Cerro Moro is an advanced high grade gold-silver exploration project which Yamana acquired through its purchase of Extorre Gold Mines Ltd. in August 2012. The royalty is estimated to cover 160 km2 of the property and all current Mineral Resources.
In February 2015, Yamana announced a formal decision to proceed with the construction of the Cerro Moro project. The current plan includes constructing a 1,000 tonne per day plant producing an average of 102,000 ounces of gold and 5 million ounces of silver per year over an initial 7 year mine life. Production estimates consider only current Mineral Reserves and not the benefit of expected additions from exploration and new discoveries. Yamana estimates 2018 production of 78,000 ounces of gold and approximately 3.2 million ounces of silver increasing to almost 160,000 ounces of gold and 6.5 million ounces of silver in 2020.
|Total Revenue to FNV ($ million)