Operator: KINROSS GOLD CORPORATION
Royalty: NSR/GR: 0.875-5%
The Bald Mountain mine lies within the Southern Ruby Mountains of northeastern Nevada, approximately 110 km southeast of Elko. Ore is sourced from multiple open pits over an estimated 600 km2 property with processing at multiple conventional heap leaching facilities. Bald Mountain is the largest mine site by area in the U.S. It stretches 40 km north to south and 15 km east to west and is divided in three zones: North Zone, South Zone and JV Zone. Kinross Gold Corporation (“Kinross”) purchased the operation from Barrick at the end of 2015 which included 100% of the North and South Zones while forming a 50/50
exploration joint venture partnership with Barrick on the JV Zone.
Franco-Nevada’s Bald Mountain royalties cover a significant portion of the Bald Mountain property. Franco-Nevada holds various revenue royalties on the property depending on the claim groups, ranging from 0.875% to 5% NSR/GR. A detailed map of our royalties is shown in the schematic. Bald Mountain produced 191,000 ounces of gold in 2015. Kinross does not provide production guidance for individual assets.
Bald Mountain represents a high-quality brownfield opportunity and is expected to be a key aspect of Kinross’ 2016 exploration program. Kinross stated that it will focus on upgrading and adding to the existing estimated mineral resource base with priority within the footprint of the active mining areas in extensions to known deposits.
|Total Revenue to FNV ($ million)