TSX:FNV 87.37 -0.11 -0.13%
Volume 221,756
August 21, 2018
NYSE:FNV 67.06 +0.00 +0%
Volume 191,156
August 21, 2018
Gold 1,193.93 +1.30 +0.11%
August 21, 2018
Contact Share

Location: South Africa
Royalty: NPI: 5%
Operator: Lonmin plc

The Pandora property forms part of the Bushveld complex approximately 40 km east of the town of Rustenburg, South Africa and is 100% owned by Lonmin plc following the acquisition of Anglo American Platinum’s 42.5% interest in the JV as well as Mvelaphanda Resources Proprietary Limited’s 7.5% interest. Subsequently, on December 14, 2017, Sibanye-Stillwater announced plans to acquire Lonmin plc. Franco-Nevada has a 5% NPI royalty as well as a small minimum annual payment of ZAR 100,000. The mine is an underground operation and exploits the UG2 reef horizon with access via a decline from surface. A shaft deepening project was completed in 2013 accessing the newly developed 9 and 10 levels. The majority of planned future mining is covered by Franco-Nevada’s 5% NPI royalty. Pandora has fallen short of its operating plans over the last few years and not generated a profit.