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Cerro San Pedro (Au & Ag)

Location: Mexico, Latin America
Operator: New Gold Inc.
Royalty: GR: 1.95%

Franco-Nevada has a 1.95% GR that covers most of the Cerro San Pedro project operated by New Gold Inc. (“New Gold”). Cerro San Pedro is located in the San Luis Potosi mining district of central Mexico. The project is a gold-silver, open-pit, run-of-mine heap leach operation. Cerro San Pedro finished active mining late in the second quarter of 2016 and transitioned to residual leaching. A staged closure process is underway. Cerro San Pedro produced 10,870 ounces of gold in 2018 versus 34,337 ounces of gold in 2017. Minimal production from Cerro San Pedro is expected moving forward.