TSX:FNV 91.48 -0.27 -0.29%
Volume 441,599
January 18, 2019
NYSE:FNV 68.90 -0.22 -0.32%
Volume 646,283
January 18, 2019
Gold 1,281.71 -10.78 -0.83%
Volume
January 18, 2019
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) $ – $ – $ –