Triple Flag Announces US$440 Million Gold Stream on Ravenswood Gold Mine

Triple Flag Precious Metals Corp. has entered into an agreement to acquire a gold stream on the Ravenswood Gold Mine in Queensland, Australia, for US$440 million. This stream is on a producing mine with a history of over 4 million ounces of gold production and is expected to produce over 200,000 ounces of gold per annum at steady state. The agreement includes Triple Flag purchasing 5.50% of payable gold, stepping down to 3.75% after 194,200 ounces and then to 2.50% after 253,000 ounces. Ongoing payments will be 10% of the spot gold price per ounce delivered, stepping up to 20% after 194,200 ounces. The transaction is expected to close in June 2026 and will be funded through available capital, including cash on hand and credit facilities. This acquisition is expected to increase Triple Flag's 2030 outlook for gold equivalent ounces (GEOs) to between 150,000 and 160,000. The Ravenswood Mine has current Proved and Probable ore reserves of 2.8 million ounces of gold and significant exploration potential. EMR Capital and Golden Energy and Resources Pte. Ltd. (GEAR), the current owners, have invested over A$830 million since 2020 to expand the asset.