Séguéla (Au)

Location: Côte d’Ivoire, Rest of World
Operator: Roxgold Inc.
Royalty: NSR: 1.2%

In March 2021, Franco-Nevada acquired a 1.2% NSR from Roxgold Inc. (“Roxgold”) on the license covering its Séguéla open-pit gold project located in Côte d’Ivoire. The royalty is subject to a buy-back of up to 50% for a period of time. Roxgold completed a preliminary economic assessment in April 2020, with a feasibility study expected in Q2 2021. Roxgold has rapidly advanced the project, growing it from an Inferred Mineral Resource of 400,000 ounces of gold in April 2019, when Roxgold acquired the project, to an Indicated Mineral Resource of 1 million ounces of gold and an Inferred Mineral Resource of 370,000 ounces of gold by November 2020. Roxgold continues to explore over 30 prospective targets with an active exploration program on the 360 km2 land package. Recent high-grade intercepts at the Koula and Ancien deposits highlight the potential for underground targets. Environmental permits and the exploitation license were approved in Q4 2020. A construction decision is expected in Q2 2021 with commissioning to commence in H2 2022.