Operator: FireFly Metals Ltd.
Location: Newfoundland & Labrador, Canada
Royalty: 1.0% NSR (all metals)
Term of Royalty: Life of Mine
The Ming Mine is an underground operation, a part of the larger Green Bay Copper-Gold Project, owned and operated by FireFly Metals Ltd. Green Bay is located in Newfoundland and Labrador, Canada, approximately 20 kilometers east of Baie Verte. Royal Gold’s royalty interest only applies to the 188L mining lease.
FireFly Metals has a strategy to expand the current resource at the Ming Underground mine through investment in drilling. The existing underground infrastructure will fast-track work with drill positions immediately accessible. Key targets for immediate resource growth include VMS Extensions, Lower Footwall Lower Extensions and the Upper extension of the Lower Footwall Zone.
Royal Gold holds a 1.0% net smelter return (NSR) royalty on all metals produced.
Royal Gold acquired this royalty interest effective October 1, 2008, as part of the acquisition of a royalty portfolio from Barrick Gold Corporation.