Operator: Saracen Mineral Holdings Limited
Royalty: NSR: 1.75%
Red October is located in the Laverton region of Western Australia which was in production as an open-pit until 2001. Saracen Mineral Holdings Limited (“Saracen”), the current operator, commenced underground mining in 2012. Franco-Nevada’s royalty interest covers 29 km2 surrounding the Red October deposit and applies after 160,000 ounces of gold have been produced. This threshold was passed in early 2014. Saracen reported Red October production of 64,200 ounces of gold for 2015.