TSX:FNV 99.80 -0.11 -0.11%
Volume 230,824
October 17, 2017
NYSE:FNV 79.64 -0.13 -0.16%
Volume 365,153
October 17, 2017
Gold 1,299.90 -1.60 -0.12%
Volume 74
October 16, 2017
Contact Share

Location: Côte D’Ivoire
Operator: Endeavour Mining Corporation
Royalty: NSR: 1-1.5% (approximately)

The Ity gold mine, located in western Côte d’Ivoire, is operated by Endeavour Mining. Endeavour Mining holds a 55% interest in the operation while the remainder is held 30% by Sodemi (the State Mining and Exploration Agency), 10% by the Government of Côte d’Ivoire, and 5% by a private investor. Franco-Nevada has a sliding scale royalty which increased to an approximate 1.5% NSR once cumulative production from 2001 onwards exceeded 21 tonnes of gold (reached at beginning of 2015). The royalty ceases once production reaches 35 tonnes of gold. Ity had a strong 2016 producing 76,000 ounces, reported an increase in Mineral Reserves and discovered two new deposits on royalty ground, Bakatouo and Colline Sud which are close to the existing operations. For 2017, Endeavour forecasts Ity to produce between 75,000-80,000 ounces and is currently studying the potential of constructing a CIL plant.