OPERATOR:: MIDAS GOLD CORP.
ROYALTY: NSR: 1.7%
In May 2013, Midas Gold Corp. (“Midas Gold”) agreed to sell to Franco-Nevada a newly created 1.7% NSR on the future gold production from Midas Gold’s Stibnite project in Idaho for $15 million. The Stibnite project is located in a historic mining town of the same name in Idaho, about 153 km northeast of Boise. It is potentially one of the highest grade open-pit deposits in the U.S. Midas Gold has consolidated 107 km2 of unpatented and patented claims. In December 2014, Midas Gold announced the results of an independent pre-feasibility study on the Stibnite project. The study envisages three open-pit mines along with the retreatment of historical tailings supplying a common processing plant. The Stibnite project is expected to have a 12 year mine life with annual gold production of 337,000 ounces per year. Midas Gold continues to engage stakeholders and complete environmental baseline studies and in February 2016 raised C$55.2 million to advance the project. In December 2016, Midas Gold’s Plan of Restoration and Operations for the Stibnite project was deemed complete by the U.S. Forest Service. The project will now commence the formal review under the National Environmental Policy Act.