TSX:FNV 96.53 -0.89 -0.91%
Volume 314,497
June 27, 2017
NYSE:FNV 73.25 -0.29 -0.39%
Volume 255,828
June 27, 2017
Gold 1,246.30 -9.90 -0.79%
Volume 269
June 26, 2017
Contact Share

Location: Australia
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. Saracen reported Red October production of 21,000 ounces of gold for 2016. There was a production hiatus at Red October during the September quarter while exploration drilling was conducted from the base of the mine. Production re-commenced at Red October during the December quarter. Saracen has forecast lower production from Red October in 2017 and 2018 as activities have shifted to their Deep South Mine.