TSX: NSR
NYSE: NSR
(in U.S. dollars unless otherwise noted)
MONTREAL, Dec. 15, 2021 /CNW Telbec/ - Nomad Royalty
Company Ltd. ("Nomad" or the "Company") (TSX: NSR) (NYSE: NSR) is
pleased to announce the closing of the first deposit of
$13.3 million under its
previously-announced gold purchase agreement (the "Gold
Stream") with OMF Fund II (SC) Ltd., a subsidiary of Orion Mine
Finance, ("Orion") with respect to its 40% interest in the
Greenstone Gold Mines LP ("GGM"), which is the owner and
operator of the Greenstone Gold Project located in Ontario, Canada (the "Greenstone
Project") (see Nomad's press release dated
October 29, 2021).
Pursuant to the Gold Stream, Nomad is required to make up-front
cash payments totalling $95 million,
of which $13.3 million was made
yesterday, for 5.938% of gold production attributed to Orion's 40%
interest in GGM until 120,333 ounces have been delivered, and
3.958% thereafter. A second and final deposit of $81.7 million is expected to be advanced no later
than June 30, 2023 under the Gold
Stream.
Nomad is also pleased to provide the following updates from its
royalty and stream portfolio and announce that it expects to
publish its GEO production guidance for the 2022 calendar year
during Q1 2022.
BLYVOOR UPDATES 2022 GUIDANCE: Blyvoor Gold Capital
Pty ("Blyvoor Gold") has revised 2022 gold production to 40,000 to
50,000 ounces. The updated 2022 budget accounts for a slower
ramp-up to the initial 80,000 ounce per year run rate, primarily as
a result of a delay in opening up new mining areas on levels 23 and
25. As such, expected attributable 2022 production to Nomad from
the Blyvoor stream has been updated to a range of 4,000 to 5,000
ounces. During the fourth quarter, the Blyvoor mine also became
cash-flow positive, an important milestone for Blyvoor Gold.
WOODLAWN STRATEGIC PROCESS
NEARING COMPLETION: The strategic process at the Woodlawn mine is nearing completion. Given the
longer than expected timeline to complete the restructuring and
restart of Woodlawn, Nomad now
does not expect any deliveries from Woodlawn in 2022.
ROBERTSON RESOURCE DEFINITION PROGRAM CONTINUES: On
November 4, 2021, Barrick Gold
Corporation ("Barrick") announced that resource definition drilling
is ongoing at Robertson. Results continue to meet expectations and
the program remains on track to add significant resources for the
year-end update. Follow up drilling to grow the deposit westward at
the Distal target is in progress. Further to the northwest, field
mapping and sampling highlights further potential related to
additional parallel faulting with strong alteration. Additional
step-out drill testing is planned to start in early 2022.
GREENSTONE CONSTRUCTION RAMPING UP: Greenstone is ramping
up to full-scale construction, and first gold is scheduled for the
first half of 2024. The development is well advanced with 85% of
the project engineering completed. Additionally, the project
leadership team and temporary workforce camp are in place. Phase 1
road building and tree clearing has been completed, allowing to
start the tailings facility works.
MERCEDES OPENING NEW OREBODIES: At Mercedes, work is
underway on a large development program that will increase access
to multiple ore bodies. Equinox Gold Corp. ("Equinox") currently
produces from Diluvio and Lupita and expects to add in Marianas,
followed by the Rey de Oro area,
ore bodies which will enable Equinox to increase the plant
throughput, which is currently working on a campaign basis. In
addition, the Mercedes mine was recognized for the eighth
consecutive year as a Socially Responsible Company by the Mexican
Centre for Philanthropy (CEMEFI).
SOUTH ARTURO OPERATION CONSOLIDATED BY BARRICK: Barrick
acquired the 40% interest in the South Arturo Joint
Venture that it did not already own. This allows Barrick to
consolidate production from the South Arturo open pit and the El
Niño underground in the short term and capture 100% of the
longer-term upside on both orebodies. Additionally, it provides
Barrick with flexibility to pursue other potential operational
synergies at Goldstrike. As part of the South Arturo Stream
Agreement Nomad is entitled to deliveries from Barrick of 40% of
the ounces of refined silver in attributable production from the
existing mineralized areas at South Arturo and 20% of ounces of
refined silver in attributable production from the exploration
stream area.
RDM EXPLORATION PROGRAM RESTARTED: At RDM, the
stripping program continued during the third quarter and is
expected to last until the end 2021. Higher volumes of low grade
were mined during the third quarter, but the operation still
achieved production of 15,880 ounces, and RDM remains on track to
achieve 2021 guidance of 60,000 to 65,000 ounces. Importantly, the
exploration program was restarted, focused on strike extensions
from the open-pit area. This is the first exploration program that
has been initiated in several years, so Equinox is looking forward
to seeing results come out of that program and will work on doing
more exploration in the RDM area.
MOSS EXPANDS DRILL PROGRAM: Elevation Gold Corp.
("Elevation") announced exciting results from their
infill-exploration drilling program which demonstrate the expansion
potential at the Moss mine. The program intersected thick zones of
significant stockwork-hosted precious metal mineralization in the
Gold Bridge area and provided
further support for the potential to amalgamate the West and Center
pits into a single pit. New drill results along almost 175
meters of the Moss vein system in the Eastern Extension area
highlight the mine expansion potential to the east. Elevation is
planning an expanded drilling program for 2022, focusing on both
resource expansion and exploration drilling.
TROILUS CONTINUES FAST-PACED DEVELOPMENT
SCHEDULE: Following extensive exploration programs of over
150,000 metres of drilling, Troilus Gold Corp. ("Troilus")
anticipates releasing an inaugural reserve and initiate the federal
permitting process by the end of 2021. During the second half of
2022, Troilus plans to release a feasibility study. A construction
decision is expected prior year end 2022.
ARTEMIS RAISES $141 MILLION TO
FUND DEVELOPMENT AND CONSTRUCTION OF BLACKWATER: On
November 16, 2021, Artemis Gold
("Artemis") announced a $141 million
definitive Precious Metals Purchase Agreement which will be used to
fund the advancement of the development and construction of the
Project. The start of construction for Blackwater is currently
targeted for the second quarter of 2022.
QUALIFIED PERSON
Vincent Cardin-Tremblay, P. Geo.,
Vice President, Geology of Nomad Royalty is the "Qualified Person"
as defined in National Instrument 43-101 – Standards of
Disclosure for Mineral Projects who has reviewed and approved
the technical content of this news release.
ABOUT NOMAD
Nomad Royalty Company Ltd. is a gold & silver royalty
company that purchases rights to a percentage of the gold or silver
produced from a mine, for the life of the mine. Nomad owns a
portfolio of 16 royalty and stream assets, of which 8 are on
currently producing mines. Nomad plans to grow and diversify its
low-cost production profile through the acquisition of additional
producing and near-term producing gold & silver streams and
royalties. For more information please visit:
www.nomadroyalty.com.
Nomad Royalty Company Ltd.
500-1275 ave. des Canadiens-de-Montréal
Montreal, Québec H3B0G4
nomadroyalty.com
Forward-looking statements
Certain statements contained in this press release may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical fact, that address events or
developments that Nomad expects to occur, are forward looking
statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential", "scheduled" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur including, without limitation, the
satisfaction of all conditions precedent for funding the second and
final deposit under the Gold Stream; the realization of the
anticipated benefits to Nomad under the Gold Stream; the timing for
the development and construction of the Greenstone Project,
including works relating to the tailings; the timing for the
expected publication by Nomad of its GEO production guidance for
2022; the 2022 annual gold production of Blyvoor Gold; the expected
amount of ounces attributable to Nomad from the 2022 annual
production under the Blyvoor stream; the outcome of, and timing for
the completion of the strategic process at the Woodlawn mine; the results of the exploration
works to be obtained by Barrick on the Robertson property,
including its resource definition drilling program, the timing for
the commencement of the drill testing program; the outcome of the
development program at the Mercedes mine to increase access to
multiple ore bodies; the expected commencement of production on the
Marianas and the Rey de Oro areas
at the Mercedes mine; the outcome and timing for the completion of
the exploration program by Equinox on RDM; the achievement of the
2021 guidance of ounces produced at RDM; the realization of an
expanded drilling program on at Moss; the timing for the release of
the inaugural reserve, to initiate the federal permitting process
and the release of a feasibility study by Troilus; and the expected
timing to begin construction at the Blackwater project by Artemis.
Although Nomad believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in forward looking
statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements include, the
impossibility to proceed with the closing of the second and final
deposit, fluctuations in the prices of the primary commodities that
drive royalty and stream revenue, Nomad's royalty and stream
interests, access to skilled consultants, results of mining
operations, exploration and development activities for properties
with respect to which Nomad holds a royalty or stream, uninsured
risks, regulatory changes, defects in title, availability of
personnel, materials and equipment, timeliness of government or
court approvals, actual performance of facilities, equipment and
processes relative to specifications and expectations,
unanticipated environmental impacts on operations, market prices,
continued availability of capital and financing, general economic,
market and business conditions, risks relating to the Gold Stream
and its completion; and the absence of any other factors that could
cause actions, events or results to differ from those anticipated,
estimated or intended. Nomad cautions that the foregoing list of
important factors is not exhaustive. Investors and others who base
themselves on the forward-looking statements contained herein
should carefully consider the above factors as well as the
uncertainties they represent and the risks they entail. Nomad
believes that the expectations reflected in those forward-looking
statements are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward-looking
statements included in this press release should not be unduly
relied upon. These statements speak only as of the date of this
press release. Nomad undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, other than as required by
applicable law.
SOURCE Nomad Royalty Company Ltd.