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Franco-Nevada

Timmins West (Au)

Timmins

Location: Ontario, Canada
Operator: Pan American Silver Corp.
ROYALTY: NSR: 2.25%

In 2012, Franco-Nevada acquired a 2.25% NSR royalty covering a large land package of approximately 130 km2 to the west of the City of Timmins, Ontario from Lake Shore Gold Corp. (“Lake Shore Gold”). The Timmins West property hosts the Timmins and Thunder Creek deposits as well as the 144 exploration zones and the Gold River Trend and was put into full commercial production by Lake Shore Gold in 2011. Lake Shore Gold was acquired by Tahoe Resources Inc. (“Tahoe Resources”), which was subsequently acquired by Pan American Silver Corp. (“Pan American Silver”) in February 2019.

Under Pan American Silver, public reporting for both the Timmins West and Bell Creek underground mines has been consolidated into its Timmins operations (Franco-Nevada does not have a royalty on Bell Creek).

Pan American Silver produced 143,770 ounces from its Timmins operations in 2019.

Ore from both the Timmins West and Bell Creek mines is processed at the Bell Creek mill. Debottlenecking of the plant was conducted to optimize improved efficiencies resulting from the commissioning of the Bell Creek shaft in February 2019. In 2020, Pan American Silver plans to expand the tailings storage facility.

Exploration potential on the property includes targeting zones below the Thunder Creek deposit and at the Gold River Trend. Pan American Silver holds a significant land position in the Timmins Camp providing potential for exploration upside.

ASSET HIGHLIGHTS

  • Pan American Silver acquired the previous operator, Tahoe Resources, in February 2019

2019 2018 2017
Revenue to Franco-Nevada ($ million) $ 2.7 $ 2.6 $ 3.4
Timmins map