Resource World Magazine

32 www.resourceworld.com F E B R U A R Y / M A R C H 2 0 1 9 MINING business very easily, and we don't have to have armed guards pro- tecting us," he said. Metalla is gold and silver focused and pays a monthly dividend. Royal Gold Inc. [RGLD-NASDAQ] is a precious metals stream and royalty company with interests in 191 properties on six continents, including interests in 40 producing mines and 18 development stage projects. In the first quarter ended September 30, 2018, the company posted a net profit of $15 million or 23 cents a share on revenue of $100 million. Operating cash flow in the quarter was $44.6 million. Key assets include 35% of the pay - able gold and 18.75% of payable copper from the Mount Milligan Mine in British Columbia. This is a metal stream, whereby the purchase price for gold ounces delivered is $435 an ounce, or the prevailing price of gold, if lower. The purchase price for copper is 15% of the spot price per metric tonne of copper delivered. Sailfish Royalty Corp. [FISH-TSXV] is a yield-focused royalty company. Its portfolio includes the TZ Royalty, a 3.5% royalty on revenue derived from the sale of gold in Eldorado Gold Corp.'s [ELD-TSX; EGO-NYSE] advanced stage Tocantinzinho gold proj - ect in Para State, Brazil. It also holds a gold stream agreement on the San Albino gold project in Northern Nicaragua. San Albino is being developed by Mako Mining Corp. [MKO-TSXV] (formerly Golden Reign Resources) following the successful completion of a business combination with Marlin Gold Mining Ltd. Sandstorm Gold Ltd. [SSL-TSX; SAND-NYSE American] was launched in 2008 by founders Nolan Watson and David Awram. Sandstorm aimed to reshape the mine finance landscape through royalty financing. At the time, this method of partnering with mines in return for royalties on production was uncommon. Having made its first acquisition in 2009, Sandstorm laid the foundation for what is now a portfolio of over 188 royalties. It now has stable cash flow from 20 producing mines. Sandstorm sold approximately 57,600 attributable gold equivalent ounces in 2018, the highest yearly total in the com - pany's history. That number includes approximately 14,150 attributable gold ounces sold during the fourth quarter of 2018. Approximately 85% of the ounces came from operations run by major and mid-tier mining companies, Sandstorm said in a press release. Of the attributable gold equivalent ounces sold by Sandstorm, approximately 39% were attributable to mines in Canada, 17% from the rest of North America and 44% from South America and other countries. Abitibi Royalties Inc.'s [RZZ-TSXV] holds various royalty interests in the Canadian Malartic gold mine (owned and operated by Agnico-Eagle Mines Ltd. [AEM-TSX, NYSE] and Yamana Gold Inc. [YRI-TSX; AUY-NYSE]) near Val d'Or, Québec. Abitibi's flagship asset is a 3% net smelter return royalty on the eastern portion of the Canadian Malartic Mine. Gogold Resources Inc. [GGD-TSX] is a Canadian-based silver and gold producer with operations in Mexico. Having recently sold a 2% royalty on the Santa Gertrudis Mine for US$12 million to Metalla Royalty & Streaming Ltd. [MTA-TSXV; MTAFF- OTCQB; X9CP-FSE], the company's key asset is the Parral Tailings Project in Chihuahua, Mexico. Labrador Iron Ore Royalty Corp. [LIF-TSX] holds a 15.10% equity interest in Iron Ore Company of Canada directly and through its wholly-owned subsidiary, Hollinger-Hanna Ltd., and receives a 7% gross overriding royalty and a 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC. Miranda Gold Corp. [MAD-TSXV] is a gold prospect genera - tor with a focus on Colombia. The company performs its own grass roots exploration and employs a joint venture business model. It recently optioned its Lyra Project, which lies adjacent to the Buritica District in Colombia to Newmont Mining [NEM- NYSE], giving the major the right to earn up to a 70% project interest. Miranda also has an ongoing relationship with Iamgold Corp [IMG-TSX, IAG-NYSE], which has the option to earn up to a 75% interest in Miranda's Antares project in Colombia. Strongbow Exploration Inc. [SBW-TSXV; SBWFD-OTC] is an associate company of Osisko Gold Royalties and is building a portfolio of strategic metals assets in North American and the United Kingdom. Its flagship asset is the past producing South Crofty underground tin mine in Cornwall, U.K. With a mining license (valid to 2071), planning permission to construct a new surface process plant and water discharge in place, the project is fully permitted. Headed by Chairman Grenville Thomas, the com - pany is well positioned to capitalize on demand for clean tin. n w w w . Te r r a L o g i c E x p l o r a t i o n . c o m 7 7 8 . 5 2 0 . 2 0 0 0 Geochemical surveys | Geological mapping & prospecting Drill programs | Camp Construction & Management Data Management | Custom GIS solutions Cartography D R I V E N B Y D I S C O V E R Y

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