TSX:FNV 82.53 -0.90 -1.08%
Volume 967,041
September 21, 2018
NYSE:FNV 63.95 -0.66 -1.02%
Volume 1,891,366
September 21, 2018
Gold 1,200.30 -8.03 -0.66%
Volume
September 21, 2018
Contact Share

Location: South Africa
Stream: 7% Gold Stream
Operator: Sibanye Gold Limited

Cooke 4, which was formerly known as the Western Areas Gold Mine or Ezulwini, is located near the Town of Westonaria approximately 40 km west of Johannesburg, South Africa and owned by Sibanye Gold Limited. Cooke 4 is contiguous to the South Deep operation of Goldfields Limited to the south. Franco-Nevada, as a result of its acquisition of Gold Wheaton, is entitled to 7% of the gold produced from the Cooke 4 mine and makes ongoing payments equal to the lesser of $420/ounce of payable gold (subject to 1% inflation per annum that commenced in December 2013) and the spot price of gold. Sibanye announced in 2016 plans to place the mine on care and maintenance and allow the mine to flood. While the stream agreement remains in place, Franco-Nevada has impaired the majority of its carrying value for this asset.