Operator: Metals X Limited
Royalty: NSR: 1-1.75%
Metals X Limited (“Metals X”) operates the South Kalgoorlie Operation (“SKO”) which has been in production since 1989. SKO is located 15 km south of Kalgoorlie in Western Australia. Franco-Nevada holds a 1.75% NSR royalty for gold and a 1% NSR royalty for other minerals which covers 470 km2 of the SKO tenements including the northern and central sections of the HBJ deposit and all of the Mt Marion, Pernatty and Mt Martin deposits. Mining was stopped by the previous owner in 2013 but production continued from a combination of low grade stockpiles and third party ore at the 1.2 million tonne per annum Jubilee mill. Metals X acquired SKO in October 2013 and continued to process stockpiles and third party ore, while re-developing mining operations. Open pit mining resumed in January 2015, and underground mining resumed in June 2015. Metals X reported attributable gold production from SKO for 2015 of 31,522 ounces of gold.