TSX:FNV 91.48 -0.27 -0.29%
Volume 441,599
January 18, 2019
NYSE:FNV 68.90 -0.22 -0.32%
Volume 646,283
January 18, 2019
Gold 1,281.71 -10.78 -0.83%
January 18, 2019
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.