|Investment Size: US$10M|
|Investment Type: Stream|
|Location: Ocoyo, Peru|
|Operator: Sierra Sun Group|
In July 2021, the Company completed the execution of a gold stream agreement on the Sierra Antapite mine in Peru owned by the private corporation Sierra Sun Group, through its 100% owned Peruvian company Sierra Antapite S.A.C. Mining Unit (“Sierra Antapite”).
The stream is on gold production from the Sierra Antapite mine at 20% of the gold spot price based on 4.5% of gold production for the first 11,000 gold ounces and 1% thereafter for life of mine. The stream will be registered and secured against the mine. The stream will be funded in two tranches of US$5,000,000, of which the first tranche of US$5,000,000 was funded in July 2021. The mine will use Empress’ investment to increase its processing capacity from 750 to 1,000 tonnes-per-day.
The mine is fully permitted, has all social licenses to operate, and sells dore bars through either Metalor Technologies, a Switzerland-based refiner, or through Procesadora Sudmerica S.R.L, a Peru-based refiner. The cyanidation and Carbon-in-Carbon flowsheet is straight forward, with no need for fine or ultra-fine grinding, no refractory ore and the flowsheet is “off the shelf” technology. Given this is an operating company with a track record, realized results de-risks many operating assumptions and inputs used in production forecasts derived from realized results.
The above information comes from various sources including the public domain, and Empress Royalty has been unable to verify the information.