Commitments
Mineral interests
The following table summarizes the Company’s commitments to make per unit cash payments for metal to which it has the contractual right pursuant to the metal purchase and sale agreement:
| | | | | | | | | | | | |
|---|
| · · · Attributable · · |
|---|
| Mineral interest · Commodity · Inception date · volume purchased · Per unit cash payment · Term |
|---|
| Cerro Lindo | | Silver | | Dec. 20, 2016 | | 65 | %1 | 10% of monthly average | | Life of mine | |
|---|
| Altan Tsagaan Ovoo | | Gold | | Aug. 11, 2017 | | 25 | %2 | 17% of spot | | Life of mine | |
|---|
| Altan Tsagaan Ovoo | | Silver | | Aug. 11, 2017 | | 50 | %3 | 17% of spot | | Life of mine | |
|---|
| Pumpkin Hollow | | Gold | | Dec. 21, 2017 | | 97.5 | %4 | 5% of spot | | Life of mine | |
|---|
| Pumpkin Hollow | | Silver | | Dec. 21, 2017 | | 97.5 | %4 | 5% of spot | | Life of mine | |
|---|
| Gunnison | | Copper | | Oct. 30, 2018 | | 16.5 | %5 | 25% of spot | | Life of mine | |
|---|
| Buriticá | | Silver | | Mar. 15, 2019 | | 100 | %6 | 5% of spot | | Life of mine | |
|---|
| RBPlat | | Gold | | Jan. 23, 2020 | | 70 | %7 | 5% of spot | | Life of mine | |
|---|
| Northparkes | | Gold | | Jul. 10, 2020 | | 54 | %8 | 10% of spot | | Life of mine | |
|---|
| Northparkes | | Silver | | Jul. 10, 2020 | | 80 | %8 | 10% of spot | | Life of mine | |
|---|
| La Bolsa | | Gold | | Jan. 19, 2023 | 9 | 5% | | Lesser of $450 and spot | | Life of mine | |
|---|
| La Colorada | | Gold | | Jan. 19, 2023 | 9 | 100% | | Lesser of $650 and spot | | Life of mine | |
|---|
| El Mochito | | Silver | | Jan. 19, 2023 | 9 | 25% | | 25% of spot | | Life of mine | |
|---|
| Moss | | Silver | | Jan. 19, 2023 | 9 | 100% | | 20% of spot | | Life of mine | |
|---|
| | | | | | | | | | | | |
|---|
| Prepaid gold interests | | | | | | | | | | | |
|---|
| Auramet | | Gold | | Jan. 19, 2023 | 9 | 1,250 ounces per quarter | | 16% of spot | | Commercial conditions milestones | 10 |
|---|
| 1. | 65% of payable silver produced from Cerro Lindo until 19.5 million ounces have been delivered and 25% thereafter. |
| 2. | 25% of gold from Altan Tsagaan Ovoo (“ATO”) until 46,000 ounces of gold have been delivered and thereafter, 25% of gold subject to an annual cap of 7,125 ounces. |
| 3. | 50% of silver from ATO until 375,000 ounces of silver have been delivered and thereafter, 50% of silver subject to an annual cap of 59,315 ounces. |
| 4. | Streamed gold is to be based on a fixed gold-to-copper ratio (being 162.5 ounces of gold for each million pounds of payable copper over the life of the asset) multiplied by a 97.5% gold stream percentage and streamed silver is to be based on a fixed silver-to-copper ratio (being 3,131 ounces of silver for each million pounds of payable copper over the life of the asset) multiplied by a 97.5% silver stream percentage. |
| 5. | The stream percentage of refined copper produced from the Gunnison mine ranges from 3.5% to 16.5% depending on the Gunnison mine’s total production capacity, with the stream percentage starting at 16.5% and decreasing as the Gunnison project’s production capacity increases. Triple Flag has the option to increase its stream participation percentage by paying an additional deposit of an amount up to US$65 million. |
| 6. | The streamed silver is to be based on a fixed silver-to-gold ratio of 1.84 over the life of the asset. |
| 7. | 70% of payable gold produced until 261,000 ounces have been delivered and 42% thereafter. |
| 8. | 54% of payable gold produced until 630,000 ounces have been delivered and 27% thereafter, 80% of payable silver produced until 9,000,000 ounces have been delivered and 40% thereafter. |
| 9. | Acquired pursuant to the Maverix acquisition. |
| 10. | On and after September 27, 2031 and the delivery of 50,000 ounces of gold. |
