TSX:FNV 91.26 +0.72 +0.8%
Volume 488,722
April 26, 2017
NYSE:FNV 67.10 +0.35 +0.52%
Volume 989,490
April 26, 2017
Gold 1,265.60 -10.20 -0.8%
Volume 605
April 25, 2017
Contact Share

Location: South Africa
Operator: Sibanye Gold Limited
Stream: 7% Gold Stream

Cooke 4, which was formerly known as the Western Areas Gold Mine or Ezulwini, is located near the Town of Westonaria approximately 40 km west of Johannesburg, South Africa and owned by Sibanye Gold Limited. Cooke 4 is contiguous to the South Deep operation of Goldfields Limited to the south. Franco-Nevada, as a result of its acquisition of Gold Wheaton, is entitled to 7% of the gold produced from the Cooke 4 mine and makes ongoing payments equal to the lesser of $416/ounce of payable gold (subject to 1% inflation per annum that commenced in December 2013) and the spot price of gold. Sibanye announced in 2016 plans to place the mine on care and maintenance and allow the mine to flood. While the stream agreement remains in place, Franco-Nevada has impaired the majority of its carrying value for this asset.