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Franco-Nevada

Red Mountain (Au)

LOCATION: British Columbia, Canada
OPERATOR: IDM Mining Ltd.
ROYALTY: NSR: 1% / Production Payment

Franco-Nevada has a 1% NSR as well as a $10/oz production payment on gold produced in excess of 1.85 million ounces from the Red Mountain project near Stewart, B.C. Franco-Nevada acquired the royalty as part of the Barrick royalty portfolio in November 2013. IDM Mining released a feasibility study in June 2017 that estimated an initial mine life of six years producing an average of 78,000 gold ounces per year. The Red Mountain Gold Project received Federal Environmental Assessment Approval in January 2019 and will proceed to the regulatory phase with Fisheries and Oceans Canada and Natural Resources Canada. Ascot Resources Ltd. announced plans to acquire IDM Mining which is expected to close in March 2019.