TSX:FNV 87.37 -0.11 -0.13%
Volume 221,756
August 21, 2018
NYSE:FNV 67.06 +0.00 +0%
Volume 191,156
August 21, 2018
Gold 1,193.93 +1.30 +0.11%
Volume
August 21, 2018
Contact Share

LOCATION: ONTARIO
OPERATOR: PREMIER GOLD MINES LIMITED / CENTERRA GOLD INC.
ROYALTY: NSR: 3%

Franco-Nevada acquired a 3% NSR on Hardrock as part of its acquisition of a portfolio of approximately 20 royalties from Barrick in November 2013. The Hardrock property is being advanced by Greenstone Gold Mines L.P. (“Greenstone”), a 50/50 partnership between Premier and Centerra Gold Inc. As part of the Greenstone partnership, Centerra paid C$96 million and is responsible for funding the initial C$185 Million of capital contributions with C$121.0M remaining as at September 30, 2017. The Hardrock property is part of the larger Trans-Canada project with Hardrock representing the core project. The district has historic production of 4 million ounces of gold and is host to multiple gold deposits.

Greenstone released a feasibility study in November 2016. The study envisions an open-pit mine producing 4.2 million ounces of gold over a 14.5 year mine life. Production is expected to average approximately 300,000 ounces per year during full production and excludes processing of low-grade stockpiles. The economic study only includes the Hardrock open-pit Mineral Resource and does not include any potential from the large underground Mineral Resource on the property.

Greenstone submitted the Hardrock Project Environmental Impact Statement/Environmental Assessment to the required government agencies in July 2017 to initiate the formal environmental review process.

ASSET HIGHLIGHTS:

  • Advanced project in favourable mining jurisdiction
  • Feasibility outlines potential 14.5 year mine life producing ~300,000 ounces per year
  • Additional upside from large underground Mineral Resource

2017 2016 2015
Revenue to Franco-Nevada ($ million) $ – $ – $ –