Triple Flag acquires latest gold stream from Ravenswood mine in Australia
TSX-listed Triple Flag Precious Metals Corporation has entered into an agreement to have its subsidiary, Triple Flag International, acquire a gold stream on the producing Ravenswood gold mine, in Queensland, Australia, for a cash consideration of $440-million.
Triple Flag CEO Sheldon Vanderkooy says the Ravenswood stream adds immediate cashflow from a large-scale, long-life operation located in a top-tier mining jurisdiction that is also underpinned by two years of target gold deliveries.
Triple Flag expects the transaction to close before the end of the month and will fund it from its available cash and loan facilities.
The Ravenswood gold mine is one of the ten largest gold mines in Australia by ore reserves, with a long history of continuous operation and historical production of more than four-million ounces of gold.
More than A$830-million has been invested in the mine, which is expected to produce more than 200000 oz/y of gold at steady state. Triple Flag says in-pit and near-mine exploration upside also presents a significant opportunity to extend the mine life at Ravenswood across a large and prospective land package.
Ravenswood produced 134000 oz of gold in 2025.
Vanderkooy explains the Ravenswood gold stream is a cornerstone addition to Triple Flag's substantial Australian presence, which includes Northparkes, Beta Hunt and Fosterville.
First delivery under the Ravenswood gold stream will start in the third quarter of the year.
Triple Flag has the right to purchase 5.5% of payable gold from the Ravenswood mine under the stream. The stream rate steps down to 3.75% after 194200 oz of gold has been delivered, and then to 2.5% after 253000 oz of gold has been delivered.
Triple Flag will make ongoing payments of 10% of the spot gold price for each ounce delivered until 194200 oz has been delivered, and 20% of the spot gold price thereafter.
The mine is owned by private equity fund EMR Capital and resources company GEAR, which is part of an Indonesian conglomerate called Sinas Mas Group.
"The portfolio continues to perform strongly, and with the addition of Ravenswood, we have increased our 2030 outlook to 150000 to 160000 gold-equivalent ounces, up from 140000 to 150000 gold-equivalent ounces,” Vanderkooy concludes.
