AcquisitionsJun 12, 2026, 09:21 AM
Triple Flag Acquires $440M Gold Stream on Ravenswood Mine; Boosts 2030 Outlook
AI Summary
Triple Flag Precious Metals Corp. announced its subsidiary will acquire a gold stream on the producing Ravenswood Gold Mine in Queensland, Australia, for an upfront cash consideration of $440 million. This acquisition is expected to provide immediate cash flow from a large-scale, long-life operation in a top-tier mining jurisdiction. The company also increased its 2030 outlook for Gold Equivalent Ounces (GEOs) to 150,000-160,000, up from 140,000-150,000 GEOs, due to the addition of Ravenswood.
Key Highlights
- Triple Flag acquired a gold stream on the Ravenswood Gold Mine for an upfront cash consideration of $440 million.
- The company increased its 2030 outlook to 150,000-160,000 Gold Equivalent Ounces (GEOs), up from 140,000-150,000 GEOs.
- Triple Flag will purchase 5.50% of payable gold, stepping down to 3.75% and then 2.50% after certain delivery thresholds.
- Ongoing payments will be 10% of the spot gold price until 194,200 ounces are delivered, then 20% thereafter.
- Ravenswood Mine is expected to produce over 200,000 ounces of gold per annum at steady state by 2028.
- Current Proved and Probable ore reserves at Ravenswood are 2.8 million ounces of gold.
- The transaction will be funded from available capital, including $144 million cash on hand and a $1 billion credit facility.
Price Impact
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