The owners of the Northparkes gold/copper mine, in New South Wales, has inked a $550-milion streaming agreement with Triple Flag Mining Finance Bermuda, a subsidiary of Triple Flag Precious Metals Corp.
Under the terms of the agreement, Triple Flag Bermuda would make an up-front cash payment of $550-million and ongoing payments equaling 10% of the spot gold price and spot silver price at the time of delivery, for 54% of the gold produced at Northparkes until a cap of 630 000 oz is delivered, and 27% thereafter.