TSX:FNV 82.53 -0.90 -1.08%
Volume 967,041
September 21, 2018
NYSE:FNV 63.95 -0.66 -1.02%
Volume 1,891,366
September 21, 2018
Gold 1,200.30 -8.03 -0.66%
Volume
September 21, 2018
Contact Share

LOCATION: IDAHO
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. In February 2018, Idaho’s House of Representatives and Senate encouraged the U.S. President and Federal officials to move the project forward. Based on discussions with the U.S. Forest Service, a draft Environmental Impact Statement for public comment is expected in Q3 2018 and an approved Record of Decision anticipated in Q3 2019 based on the current timeline of the process.