TSX:FNV 117.86 +1.10 +0.94%
Volume 739,207
July 19, 2019
NYSE:FNV 90.22 +0.64 +0.71%
Volume 724,583
July 19, 2019
Gold 1,425.90 -20.27 -1.4%
Volume
July 19, 2019
Contact Share

Franco-Nevada

Pandora (PGM)

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

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 that includes 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 deepening of the decline was completed in 2013 accessing the 9 and 10 levels. The majority of planned future mining is covered by Franco-Nevada’s 5% NPI royalty. Pandora has not generated a profit in the last few years.