TSX:FNV 102.22 +0.81 +0.8%
Volume 367,024
May 17, 2019
NYSE:FNV 75.92 +0.61 +0.81%
Volume 447,074
May 17, 2019
Gold 1,278.30 -9.10 -0.71%
Volume
May 17, 2019
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Franco-Nevada

Stibnite Gold (Au)

LOCATION: Idaho, United States
OPERATOR: MIDAS GOLD CORP.
ROYALTY: NSR: 1.7%

In May 2013, Midas Gold Corp. (“Midas Gold”) agreed to sell to Franco-Nevada a newly created 1.7% NSR on the future gold production from Midas Gold’s Stibnite project in Idaho for $15 million. The Stibnite project is located in a historic mining town of the same name in Idaho, about 153 km northeast of Boise. It is potentially one of the highest grade open-pit deposits in the U.S. Midas Gold has consolidated 107 km2 of unpatented and patented claims. In December 2014, Midas Gold announced the results of an independent pre-feasibility study on the Stibnite project. The study envisages three open-pit mines along with the retreatment of historical tailings supplying a common processing plant. The Stibnite project is expected to have a 12 year mine life with annual gold production of 337,000 ounces per year. In September 2017, seven federal, state and local agencies entered into an agreement outlining their commitment to work together and coordinate efforts to permit the Stibnite project. Midas Gold provided an updated permitting schedule for the Stibnite Gold project in October 2018 which would allow for a Final Record of Decision in May 2020. Subsequently, Midas Gold announced that the Nez Perce Tribe, one of the three tribes being consulted by the U.S. Forest Service, is formally opposing the project.