Hope Bay is an 80km by 20km Archean greenstone belt located in Nunavut, Canada


Image: Maverix Metals completes acquisition of additional royalty on the Hope Bay Mine. Photo: courtesy of Steve Bidmead from Pixabay.

Maverix Metals Inc. (the “Company” or “Maverix”) (NYSE American: MMX, TSX: MMX) is pleased to announce that it has completed the acquisition of an additional net smelter return (“NSR”) royalty on the Hope Bay mine (“Hope Bay”) in Nunavut, Canada, owned and operated by TMAC Resources Inc. (“TMAC”). Maverix now holds a 2.75% NSR royalty on Hope Bay effective from August 1, 2019. The 2.75% NSR royalty will reduce to 2.5% upon registration of the royalty against the property.

TMAC continues to optimize the established operations and expects Hope Bay to produce over 160,000 ounces of gold in 2019.

Maverix has drawn on its existing credit facility to fund the acquisition.

Source: Company Press Release