Operator: Westgold Resources Limited
Royalty: Production Payment
Effective April 1, 2014, Franco-Nevada acquired a production payment royalty on all mineral production from the Lake Cowan Project operated by Westgold located in Western Australia northeast of the Higginsville Gold Plant. Westgold was created late in 2016 when Metals X demerged its gold assets into a separate ASX listed company. The Lake Cowan royalty rate is A$1.00 per tonne of ore processed and covers 32 km2 including five small open-pit gold deposits. Westgold (then Metals X) began mining and processing ore from Lake Cowan in September 2014, to utilize spare capacity at its Higginsville Gold Plant and also at its South Kalgoorlie Gold Plant. Neither Metals X nor Westgold reported separate production figures for Lake Cowan during 2016.