OVERVIEW
| Royalty | 2% NSR |
| Location | Victoria, Australia |
| Asset Overview | Underground mine, Open Stoping |
| 2017E Production | 250-260Koz |
| Resources | P&P: 1.2 Moz
M&l (Exclusive of P&P): 1.9Moz
Inferred: 1.0Moz |
Centerra Gold holds a 2% net smelting royalty on the Fosterville Gold Mine, operated by Kirkland Lake Gold Ltd, located in the province of Victoria, Australia.
Gold was first discovered in the Fosterville area in 1894 with activity continuing until 1903. Modern era gold production resumed in 1991-2011 with oxide heap leach mining. Sulfide mining and processing started in 2004 and been continuous since that time with a track record of exploration success that continues to this day.
SUMMARY:
So this is the NSR, Centerra has listed on its website, and "was" owned by Centerra via its subsidiary Aurico Metals. Now technically no longer owned by Centerra as this NSR has now been sold as part of the portfolio to Triple Flag Mining Bermuda.
KL will now go to arbitration as KL NEVER HAD THE CHANCE to offer up the cash to buy this NSR off Centerra through KL's Fosterville subsidiary (FGM for Fosterville Gold Mine Pty Ltd.) Almost like Centerra played dumb and did not want to let KL exercise its right of 1st offer since in the long-run would be very beneficial for KL to by back this 2 % NSR.
GO AFTER THESE AS*HOLES TONY.
JIN