Operator: MMG Limited

Location: Botswana

100% Payable Silver

Term of Stream: Life of Mine

Khoemacau is a copper-silver mine located in the Kalahari copper belt in northwestern Botswana in the Kalahari Desert and is operated by a subsidiary of MMG Limited (“MMG”). MMG completed the acquisition of Khoemacau Copper Mining (Pty.) Limited (“KCM”), effective March 22, 2024.

The Khoemacau operation consists of mechanized underground mines producing from the Zone 5 orebody and a sulfide ore flotation plant producing a copper-silver concentrate product at Boseto. The project completed construction in the second half of 2021 and ramp-up of mining and processing operations to the 10,000 tonnes per day (tpd) target production rate was achieved in December of 2022.

The Zone 5 operation is designed for a total production rate of 3.65 million tonnes per annum (Mtpa) through three decline systems, with a single decline system production rate of 1 to  2 Mtpa, all using the long-hole open-stoping mining method. The upper levels of the mine incorporate stabilizing pillars between long-hole stopes and paste backfill will be used as depth increases to improve overall mineral resource recovery.