Black Fox

Primero Mining Corp.

PHOTOS
INFO

The Black Fox Mine is located outside of Matheson, Ontario, Canada in the Timmins Gold District. The Black Fox Mine began operating as an open pit mine (depleted in 2015) and transitioned to underground operations in 2011. The project produced approximately 62,000 ounces of gold in 2016.

McEwen Mining Inc. (TSX:MUX, NYSE:MUX) announced the acquisition of the Black Fox Mine from Primero in August 2017 and is expected to close in the third quarter of 2017. 

Terms

Sandstorm has a gold stream agreement to purchase 8% of the life of mine gold produced from Black Fox and 6.3% of the life of mine gold produced from the Black Fox extension (which includes a portion of the Pike River concessions) for a per ounce cash payment equal to the lesser of US$524 and the then prevailing market price of gold.

Sandstorm originally acquired a 12% stream on Black Fox from Brigus Gold Corp. for an upfront payment of US$56.3 million. The transaction included a partial buyback option which Brigus exercised in October 2012 for US$24.4 million to buyback 4% of the stream from Sandstorm. Primero acquired Brigus Gold in March 2014. 

Key Streams & Royalties

DEVELOPMENT-STAGE
PRODUCING
ALL
Chapada | Yamana Gold Inc. Chapada | Yamana Gold Inc.
Black Fox | Primero Mining Corp. Black Fox | Primero Mining Corp.
Santa Elena | First Majestic Silver Corp. Santa Elena | First Majestic Silver Corp.
Bachelor Lake | Metanor Resources Inc. Bachelor Lake | Metanor Resources Inc.
Karma | Endeavour Mining Corporation Karma | Endeavour Mining Corporation
Cerro Moro | Yamana Gold Inc. Cerro Moro | Yamana Gold Inc.
Ming | Rambler Metals & Mining PLC Ming | Rambler Metals & Mining PLC
Hugo North Extension and Heruga | Entrée Resources Ltd. Hugo North Extension and Heruga | Entrée Resources Ltd.
Diavik | Rio Tinto plc Diavik | Rio Tinto plc
Hot Maden | Lidya Madencilik Hot Maden | Lidya Madencilik
Hackett River | Glencore plc Hackett River | Glencore plc
Lobo-Marte | Kinross Gold Corporation Lobo-Marte | Kinross Gold Corporation
Aurizona | Trek Mining Inc. Aurizona | Trek Mining Inc.
Bracemac-McLeod | Glencore plc Bracemac-McLeod | Glencore plc
Copper Mountain | Copper Mountain Mining Corporation Copper Mountain | Copper Mountain Mining Corporation
Gualcamayo | Yamana Gold Inc. Gualcamayo | Yamana Gold Inc.
Emigrant Springs | Newmont Mining Corp. Emigrant Springs | Newmont Mining Corp.
Ağı Dağı and Kirazli | Alamos Gold Inc. Ağı Dağı and Kirazli | Alamos Gold Inc.
MWS | Anglogold Ashanti Limited MWS | Anglogold Ashanti Limited

Corporate Head Office

Suite 1400
400 Burrard Street
Vancouver, BC | V6C 3A6 Canada

604.689.0234
1.866.584.0234
604.689.7317

info@sandstormLTD.com
www.sandstormLTD.com

Investor Relations

Denver Harris

604.628.1178
1.866.584.0234 ext. 254

dharris@sandstormLTD.com
request more info