Annual Benefit Payments from the KSM Providing an update on its royalty interest, Nations Royalty (NRC.v) announced earlier this week that Seabridge Gold Inc.'s KSM Project in northwest British Columbia has received the 'Substantially Started' designation from the British Columbia Provincial Government.
Ensuring that the project's Provincial Environmental Assessment Certificate (EAC) remains valid indefinitely, this designation makes KSM the largest permitted copper-gold development project globally.
The KSM Project hosts 47.3 million ounces of gold and 7.3 billion pounds of copper in proven and probable reserves, with over $800 million spent on development, including road, power infrastructure, and camp construction.
Notably, NRC holds an entitlement to annual benefit payments from the KSM Project, calculated based on the project's tax payable under the Mineral Tax Act (British Columbia).
This entitlement was negotiated by the Nisga'a Nation and contributed to Nations Royalty's royalty portfolio. Kody Penner, Vice President of Corporate Development for Nations Royalty, acknowledged the efforts of Seabridge, the Government of British Columbia, and the thorough consultation with Indigenous groups and nearby communities, including the Nisga'a and Tahltan. Nations Royalty looks forward to continued collaboration and the advancement of the KSM Project, which is vital to the company's future success.
News Release: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/3352-tsx-venture/nrc/164898-nations-royalty-provides-update-on-royalty-interest-the-ksm-deposit-receives-substantially-started-designation.html
Posted on Behalf of Nations Royalty Corp.