Franco-Nevada

Timmins West (Au)

Timmins

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

Franco-Nevada’s Timmins West 2.25% NSR royalty covers a large land package of approximately 130 km2 to the west of the City of Timmins, Ontario. The Timmins West property hosts the Timmins and Thunder Creek deposits as well as the 144 exploration zones and the Gold River Trend. Franco-Nevada acquired the royalty from Lake Shore Gold Corp. (“Lake Shore Gold”) in 2012, after Lake Shore put the property into full commercial production in 2011. Lake Shore Gold was acquired by Tahoe Resources Inc. (“Tahoe Resources”) in April 2016, 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 148,400 ounces of gold from its Timmins operations in 2020 versus 143,770 ounces of gold 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.

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

ASSET HIGHLIGHTS

  • Large land package providing exploration upside

2020 2019 2018
Revenue to Franco-Nevada ($ million) $ 3.2 $ 2.7 $ 2.6
Timmins map