What’s a Canadian non producing silver mine worth Key is not in production. Looks pretty good to me. CCW could really unlock some big upside value as a Canadian silver story.
What’s a developed silver mine worth in Canada on a sale basis? Not bad I’d say. Overview Status: Development Project Location: 160 km southwest of Prince George Ownership: 100% New Gold Reserves1: Blackwater Gold 8.2 million ounces Silver 60.8 million ounces Resources2: Blackwater Gold 1.4 million ounces Silver 8.9 million ounces TORONTO--(BUSINESS WIRE)-- June 9, 2020– New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with Artemis Gold Inc. (“Artemis”) to divest its Blackwater Project (“Blackwater”) located in British Columbia, Canada (the “Transaction”). Under the terms of the Agreement, New Gold will receive consideration comprised of the following: C$190 million in cash comprised of C$140 million in cash upon closing of the Transaction and C$50 million in cash payable twelve months following closing of the Transaction (the “Second Instalment”); A gold stream on 8% gold produced from Blackwater, reducing to 4% of gold production once approximately 280,000 ounces of gold have been delivered to New Gold. The stream is subject to a transfer price equal to 35% of the spot gold price; In the event that agreed upon production targets at Blackwater are not achieved by the 7th, 8th, or 9th anniversary of closing of the Transaction, New Gold will be entitled to receive additional cash payments of C$28 million on each of those dates; and C$20 million in Artemis shares upon closing of the Transaction, subject to New Gold not acquiring more than 9.9% of Artemis’ issued and outstanding common shares, in which case the difference between C$20 million and the value of the shares issued to New Gold shall be added to the Second Instalment.