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Franco-Nevada

Matilda (Wiluna) (Au)

Location: Australia
Operator: Blackham Resources Limited
Royalty: NSR: 3.6%

Franco-Nevada holds a 3.6% NSR royalty on all gold production from the Matilda/Wiluna Gold Project located in Western Australia. In December 2016, Franco-Nevada and Blackham Resources Limited (“Blackham”) agreed to restructure the royalty agreements with the result being that the Franco-Nevada royalty covers all of the 1,150 km2 property. Wiluna was discovered in 1896 and has produced in excess of 4.0 million ounces of gold to date, with nearly continuous production from 1987 to 2013. Blackham acquired the Wiluna Gold Operation in 2014 and resumed mining operations in 2016. Matilda/Wiluna has a 1.3 Mt per annum treatment plant and processes ore from several open-pit and underground deposits. Total production for 2019 was 64,909 ounces of gold. In February 2020, Blackham provided 2020 production guidance of 70,000-80,000 ounces of gold. Blackham is progressing plans to expand the Wiluna mill to produce sulphide concentrates, and increase annual production to 100,000-120,000 ounces of gold per annum. Blackham is also progressing plans for a CIL plant to process tailings at Wiluna. Franco-Nevada received $3.0 million of royalty revenue from Matilda/Wiluna in 2019.