TSX:FNV 87.46 -0.02 -0.02%
Volume 202,231
August 21, 2018
NYSE:FNV 67.19 +0.13 +0.19%
Volume 186,019
August 21, 2018
Gold 1,194.32 +1.69 +0.14%
Volume
August 21, 2018
Contact Share

LOCATION: CÔTE D’IVOIRE, REST OF WORLD
OPERATOR: ENDEAVOUR MINING CORPORATION
ROYALTY: NSR: 1-1.5%

The Ity gold mine, located in western Côte d’Ivoire, is operated by Endeavour Mining. Endeavour Mining increased its ownership interests to 80% in 2017 with the remainder split between the Government of Côte d’Ivoire and the Drogba Group. Franco-Nevada has a sliding scale royalty which increased to an approximate 1.5% NSR once cumulative production from 2001 onwards exceeded 21 tonnes of gold (reached at beginning of 2015). The royalty ceases once cumulative production reaches 35 tonnes of gold. Production for 2017 of 59,000 gold ounces was short of expectations due to transitioning away from the higher grade Bakatouo deposit. For 2018, Ity is expected to produce between 60,000-65,000 gold ounces. 2018 is also expected to be a transition year with greater priority given to the CIL construction activities and maximizing trade-off opportunities between immediate heap leach production and deferred mining with better margins when the CIL plant is commissioned in mid-2019.