Nomad Royalty acquires royalty on Moss Gold mine in Arizona
Nomad Royalty has completed its $7.6 million acquisition of Valkyrie Royalty, a private royalty company that owns a net smelter return royalty on the Moss Gold mine in Arizona.
The deal was announced in August 2020.
The royalty is made up of a 0.5-3% net smelter return royalty on all metals and minerals produced from certain claims within the Moss Gold mine, an open pit gold-silver operation located within Oatman District, 10 miles east of Bullhead City.
The Moss Gold mine is operated by Northern Vertex Mining, which is aiming to produce 55,000 to 65,000 gold equivalent ounces annually. Presently, Northern Vertex is undertaking a 60,000 foot-drilling program and is looking to increase the mine life beyond 10 years.
Nomad Royalty said that the royalty acquisition provides it producing gold mine in a premium jurisdiction. It will also give immediate cash flow to the gold and silver royalty company from a low-cost, conventional open pit and heap leach gold mine with significant production growth potential.
The acquisition also gives an excellent resource expansion potential by means of strong district-scale exploration and increased gold and silver exposure.
At the time of singing the deal, Vincent Metcalfe – CEO of Nomad Royalty said: “The Moss mine is generating strong gold & silver cash flows, holds considerable exploration upside on a district-scale and is located in a stable jurisdiction.” adding this royalty, Nomad further diversifies its portfolio and again strengthens its global presence by adding Arizona to its list of jurisdictions.”
Nomad Royalty is a Montreal-based gold and silver royalty company, engaged in acquiring rights to a percentage of the gold or silver produced from a mine. The company’s portfolio has 11 royalty, stream, and gold loan assets, of which five are producing mines.