SilverStream to Acquire the Forest Reefs and Mt Moss Royalties in New South Wales and Queensland, Australia
GEORGETOWN, Cayman Islands--(BUSINESS WIRE)--Feb 6, 2020--
SilverStream SEZC, dba Vox Royalty (“VOX”), is pleased to announce it has entered into a preliminary purchase agreement to acquire two royalties from ASX-listed Jervois Mining Limited (“Jervois” or “Company”).
Forest Reefs is a 1.5% NSR royalty over exploration license EL4620 targeting large porphyry copper gold, located in New South Wales and part of the land holdings of the Cadia Mine; which is operated by ASX-listed Newcrest Mining Limited.
Mt Moss is a 1.5% NSR royalty over base metal, magnetite and silver production from the Mt Moss Mine in Queensland. The mine is currently on care and maintenance and had a production capacity of approximately 0.5Mtpa magnetite prior to operations ceasing. Remaining resources were estimated (2012) as 11Mt @ 44.5% Fe in oxide (hematite) and 9.4Mt @ 45% Fe (magnetite). The mining lease (ML10171) is held by Mt Moss Mining Pty Ltd and also holds potential to produce copper and zinc concentrates as secondary products due to the skarn style classification of the deposit.
Kyle Floyd, CEO of Vox Royalty, commented, “We are pleased to announce this transaction with Jervois. It maximizes the value of the Jervois’ non-core holding of royalties and allows the Company to share in the value created in Vox’s impending public listing, whilst realizing capital that furthers the development of their core projects. Vox realizes continued growth and diversification of its royalty portfolio adding two royalties over interesting assets that have large potential.”
About Vox Royalty
Vox is a mining-focused royalty and streaming company building a portfolio of royalties and streams across a diverse commodity base. We have a basket of royalties covering precious, base, battery & specialty metals and with this acquisition, industrial metals. Our portfolio consists of >25 royalties and streams globally, with both cash-flowing and longer-term growth-oriented assets.
Jervois Mining Limited is focused on becoming a global supplier of battery metals and is a leading cobalt company with significant nickel and copper exposure. As part of its global strategy, the Company has secured geographic and asset diversification by combining the development-stage Idaho Cobalt Operations (“ICO”) and Nico Young project in Idaho (US) and Australia respectively with a large package of prospective exploration tenements in Uganda and a strategic base in East Africa. ICO has had US$100m invested to date and is a partially built mine. When it moves into production (currently scheduled for H2 2021) it will be the only producing cobalt mine in the US making it highly strategic. It has the largest compliant resource in the US and is amongst the highest average grade cobalt projects globally.
This news release contains certain information which constitutes ‘forward-looking statements’ and ‘forward-looking information’. Forward-looking statements involve known and unknown risks, most of which are beyond SilverStream’s control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200206005654/en/
CONTACT: Simon Cooper, VP Corporate Development
KEYWORD: NEVADA COLORADO IDAHO ARIZONA AUSTRALIA/OCEANIA UNITED STATES CAYMAN ISLANDS CARIBBEAN CANADA NORTH AMERICA AUSTRALIA
INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES
SOURCE: SilverStream SEZC
Copyright Business Wire 2020.
PUB: 02/06/2020 10:56 AM/DISC: 02/06/2020 10:56 AM