Operator: Vault Minerals Limited
Location: Western Australia, Australia
Royalty: 1.5% NSR (all metals)
Term of Royalty: Life of Mine
King of the Hills (“KOTH”) is an underground and open-pit gold mine, owned by Vault Minerals Limited (“Vault”). KOTH is located in the Eastern Goldfields of Western Australia, approximately 80 kilometers south of Vault’s Darlot Gold Mine and 28 kilometers north of the town of Leonora.
Vault established the new KOTH Processing Hub in 2022, with a new 4.7 million tonne per annum process plant being fed by open-pit and underground mines at KOTH, and an underground satellite mine at Darlot.
The KOTH carbon-in-leach (CIL) plant was completed on time and on budget in June 2022, achieved full production in September, and declared commercial production in December 2022.
Royal Gold holds a 1.5% net smelter return (NSR) royalty on all metals produced from the KOTH mine. Royal Gold’s royalty does not cover ore from the Darlot mine.
Royal Gold acquired its royalty interest on February 22, 2010, with the acquisition of International Royalty Corporation, which included the 1.5% NSR royalty on King of the Hills.