a u g u s t / s e p t e m b e r 2 0 1 6
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Mines' operating San Jose silver and gold
mine in Mexico. Fortuna currently expects
operations to last approximately eight
years. First production on the Taviche
Oeste concession began in 2015 with the
first NSR payment being made for the
third quarter of 2015.
In Nova Scotia, Canada, the company
has a 3% NSR, subject to a 2% buy-
back for CDN $2.5M, on Atlantic Gold's
Touquoy deposit. Touquoy is part of the
Moose River Project, an advanced stage,
open pit development, gold project.
Atlantic Gold is fully financed and has
major permits in place for the Moose River
Project with first production expected in
late 2017.
Roscoe Postle Associates Inc. completed
an independent valuation of the resource
assets held in Maverix's portfolio using
an after-tax discounted cash flow analysis
and comparable transaction analysis which
resulted in an estimate of the portfolio
value between CDN $52 to $57 million,
based on a consensus long term gold price
of US $1,201/oz.
After the arrangement has been final-
ized, 79,573,258 shares will be issued and
outstanding with Pan American Silver
owning 54% (42,850,000 shares), Burns
owning 14.9% (11,792,417 shares) and
O'Flaherty owning 7.87% (6,258,333
shares).
The streaming business model,
although highly lucrative, does face risks,
including project risk. Maverix has cre-
ated a leadership group of technical and
financial professionals, with the support
of Pan American Silver, to mitigate this
risk through diligent and disciplined asset
selection. Through a prudent approach
to investing in economic and low cost
projects, shareholders can hopefully be
rewarded with an early investment in what
may become another streaming giant.
n
Maverix Metals will
be immediately
cash flow positive
