Maverix announces Northern Vertex silver stream deal

7th December 2018 By: Creamer Media Reporter

TSX-V-listed precious metals royalty and streaming company Maverix Metals has strike a deal to purchase 100% of the silver production from fellow-listed Northern Vertex’s 5 000 t/d Moss gold/silver mine, in Arizona.

Maverix has the right to purchase 100% of the silver output until 3.5-million ounces have been bought, and thereafter it will be entitled to purchase 50% of the life-of-mine production.

The Moss mine achieved commercial production in September, and is seen as an immediate revenue stream for Maverix.

The mine is forecast to produce about 313 000 oz/y of gold and three-million ounces of silver, at an all-in sustaining cost of $603/oz of gold equivalent.

The silver stream applies to all current and future phases of operations at the Moss mine.

“Maverix is excited to partner with Northern Vertex by offering a financing solution that will allow them to significantly de-lever their balance sheet and keep the operating team at Moss fully focused on unlocking the mine’s long term potential,” commented Maverix CEO Dan O’Flaherty.

 “The addition of this cash flowing asset in a stable jurisdiction further strengthens our portfolio and meaningfully increases our attributable precious metals production per share.”