Operator: Metals X 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 Metals X located in Western Australia northeast of the Higginsville Gold Plant. The royalty rate is A$1.00 per tonne of ore processed from Lake Cowan and covers 32 km2 including five small open-pit gold deposits. Metals X began mining and processing ore from Lake Cowan in September 2014, to utilize spare capacity at the Higginsville Gold Plant, and reported total ore production of 479,585 tonnes from Lake Cowan in 2015.