Triple Flag increases 2030 outlook as it finalises Ravenswood stream buy
TSX-listed streaming company Triple Flag Precious Metals Corporation's subsidiary, Triple Flag International, has completed the acquisition of a gold stream on the producing Ravenswood gold mine, in Queensland, Australia, and thereby increased its 2030 outlook to between 150 000 and 160 000 gold-equivalent ounces (GEOs).
The company previously estimated its 2030 outlook at between 140000 and 150000 GEOs.
Ravenswood is a large-scale, low-cost and long-life operation ramping up to produce 200000 oz/y of gold by 2028. First delivery under the Ravenswood gold stream will start in the third quarter.
"The Ravenswood mine has a long history of continuous operation since 1987, and we fully expect the mine to continue its strong track record of successful conversion of resources into reserves, with further upside potential from a large and prospective 1800 km2 land package,” says Triple Flag CEO Sheldon Vanderkooy.
He adds that the milestones achieved by Triple Flag's assets in the first six months of the year have been impressive, supporting further GEO growth beyond 2030. Notable developments in the first six months of the year include a positive construction decision at Hope Bay, positive economic studies at both Arthur and Kemess, and the advancement of a potential 10-million-tonne-a-year, or more, mill expansion at Northparkes.
"This growth from assets located in mining-friendly jurisdictions across the US, Canada and Australia will drive value for our shareholders for decades to come.”
