Operator: Evolution Mining Limited
Location: Western Australia, Australia
Royalty: 2.5% GSR (gold); 2.5% NSR (silver)
Term of Royalty: Life of Mine
Red Dam is a development project, currently one of 15 deposits that comprise the December 2022 ore reserve at the Mungari operation. The project is owned by Evolution Mining Limited (“Evolution”) and is located in the Eastern Goldfields district, in Western Australia, approximately 600 kilometers east of Perth and 20 kilometers west of Kalgoorlie.
Evolution is committed to investing $250 million towards increasing the processing capacity at Mungari from 2 million tonnes per annum (Mtpa) to 4.2 Mtpa. In September 2023, Evolution awarded $155 million to a contract company to complete plant expansion works.
Royal Gold holds a 2.5% gross smelter return (GSR) royalty on gold and a 2.5% net smelter return (NSR) royalty on silver and all other metals other than gold produced from the Red Dam tenement.
Royal Gold acquired this royalty interest effective October 1, 2008, as part of the acquisition of a royalty portfolio from Barrick Gold Corporation.