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"... Kerr Mines and Star Royalties agree £13.6m

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goldenpolarbear   Friday, 11/13/20 07:55:30 AM
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"... Kerr Mines and Star Royalties agree £13.6m streaming deal ..."

"... Agreement will finance the restart of underground operations and gold production at the Copperstone Gold Mine in Arizona..."

"... As part of the key transaction terms for the agreement, Star Royalties will purchase from Kerr an amount of refined gold equal to 9.9 percent of gold produced at Copperstone until a culminative 21,000 ounces of refined gold are delivered, then 3.3 percent of gold produced until a culminative 27,200 ounces are delivered, and 1.2 percent of gold produced thereafter for the remaining life of the mine, the statement says.

Furthermore, Star Royalties will provide a cash payment to Kerr for each ounce of gold delivered equal to 25 percent of the average London Bullion Market Association gold spot price for five consecutive trading days prior to delivery.

“We are proud to announce our partnership transaction with Kerr to advance the restart of Copperstone. We have structured a mutually beneficial streaming arrangement which should translate to a win-win outcome for both parties’ shareholders.

"This gold stream will provide for significant, near-term cash flow from a highly prospective deposit in a world-class jurisdiction. We look forward to the successful restart at Copperstone and to its exploration upside under Kerr’s experienced and knowledgeable management team,” says Alex Pernin, chief executive officer of Star Royalties. ..."

https://www.miningglobal.com/supply-chain-and-operations/kerr-mines-and-star-royalties-agree-pound136m-streaming-deal


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