METALLA PROVIDES UPDATE ON GOSSELIN & CÔTÉ ROYALTY AND 2024 CATALYSTS
(All dollar amounts are in
According to
CÔTÉ & GOSSELIN RESERVE & RESOURCE ESTIMATE AS OF
|
|
Côté |
Gosselin |
|
||||
|
Tonnes |
Gold |
Tonnes |
Gold |
Royalty |
|||
|
(000's) |
(g/t) |
(000's) |
(000's) |
(g/t) |
(000's) |
(000's) |
|
Proven & Probable |
234,644 |
1.01 |
7,610 |
- |
- |
- |
6.2 |
|
Measured & Indicated |
444,773 |
0.84 |
12,067 |
161,300 |
0.85 |
4,420 |
69.4 |
|
Inferred Resources |
60,591 |
0.61 |
1,184 |
123,900 |
0.75 |
2,980 |
41.2 |
For royalty ounce calculation, Metalla estimates 6% of Côté and 100% of Gosselin's Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 1.35%. |
|
2024 Portfolio Catalysts 2 :
- G Mining Ventures Tocantinzinho production expected in H2 2024 (0.75% GVR)
- Agnico Eagle Mines Amalgamated Kirkland first production anticipated in H2 2024 (0.45% NSR)
- Polymetals Resources Endeavor mine financing update and mine restart expected end of 2024 (4% NSR)
- Agnico Eagle Mines Wasamac updated development study anticipated in H1 2024 (1.5% NSR)
- Agnico Eagle Mines Fosterville mine drilling at Harrier zone and further extensions of
Phoenix decline towards royalty boundary (2.5% NSR) - Taca Taca Environmental and Social Impact Assessment approval expected in 2024 (0.42% NSR)
-
Hudbay Minerals Copper World mine state environmental permits expected mid-2024 (0.315% NSR) - Sierra Madre Gold & Silver's La Guitarra mine restart study anticipated in Q2 2024 (2% NSR)
-
Silver Storm Mining's La Parrilla mine plan technical study expected in Q4 2024 (2% NSR)
The technical information contained in this news release has been reviewed and approved by
Metalla was created to provide shareholders with leveraged precious and strategic metal exposure by acquiring royalties and streams. Our goal is to increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns. Our strong foundation of current and future cash-generating asset base, combined with an experienced team, gives Metalla a path to become one of the leading royalty companies.
For further information, please visit our website at www.metallaroyalty.com.
ON
(signed) "Brett Heath"
President and CEO
Neither the
Notes:
- Please see
IAMGOLD Corporation's press release datedFebruary 15, 2024 - Please see G Mining Ventures Corp.'s press release dated
January 15, 2024 , Agnico Eagle Mines Limited's press release datedFebruary 15, 2024 , Polymetals Resources' Mine Restart Study for theEndeavor Mine datedOctober 16, 2023 , First Quantum Minerals Ltd.'sManagement's Discussion and Analysis for the year endedDecember 31, 2023 , and filed under First Quantum's SEDAR+ profile on www.sedarplus.ca, the Technical Report titled "Phase I Pre-Feasibility Study and Updated Mineral Resources Estimates,Copper World Project ,Pima County, Arizona , USA", with an effective date ofJuly 1, 2023 , and filed under Hudbay Minerals Inc.'s SEDAR+ profile on www.sedarplus.ca onSeptember 8, 2023 , Sierra Madre Gold and Silver Ltd's Press Release datedFebruary 8 2024 ,Silver Storm Mining Ltd.'s February 2024 corporate presentation.
Information contained on any website or document referred to or hyperlinked in this press release shall not be deemed to be a part of this press release.
Metalla has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards (IFRS) including attributable gold equivalent ounces (GEOs). The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow.
Attributable GEOs are a non-IFRS financial measure that is composed of gold ounces attributable to the Company, plus an amount calculated by taking the expected revenue by the Company from payable silver ounces, copper pounds, lead pounds and zinc pounds attributable to the Company, less material costs, divided by the price of gold. The Company presents attributable GEOs as it believes that certain investors use this information to evaluate the Company's performance in comparison to other streaming and royalty companies in the precious metals mining industry who present attributable ounces on a similar basis
The presentation of these non-IFRS financial measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS financial measures differently.
Metalla has limited, if any, access to the properties on which Metalla holds a royalty, stream or other interest. Metalla is dependent on (i) the operators of the mines or properties and their qualified persons to provide technical or other information to Metalla, or (ii) publicly available information to prepare disclosure pertaining to properties and operations on the mines or properties on which Metalla holds a royalty, stream or other interest, and generally has limited or no ability to independently verify such information. Although Metalla does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Metalla's royalty, stream or other interests. Metalla's royalty, stream or other interests can cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, resources and production of a property.
Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this press release,
including any
references to mineral resources or mineral reserves, was prepared in accordance with Canadian
NI 43-101
, which differs significantly from the requirements of the
" Inferred mineral resources " have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.
This release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements")
within the meaning of applicable securities legislation.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur, or be achieved. Forward-looking statements include, but are not limited to, the statements regarding the drill program at Gosselin by
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Metalla to control or predict, that may cause Metalla's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: that the drill program at Gosselin may not happen at all or in the anticipated timeline; that the Gosselin deposit may not have the same dimensions as the Côté deposit; production may not start at Tocantinzinho at all or in the anticipated timeline; production may not start at Amalgamated Kirkland at all or in the anticipated timeline; Endeavor's mine financing update and mine restart
may not occur at all or in the anticipated timeline; the results of Wasamac's updated development study
may not be released at all or in the anticipated timeline; drilling at the Harrier zone at the
View original content to download multimedia:https://www.prnewswire.com/news-releases/metalla-provides-update-on-gosselin--cote-royalty-and-2024-catalysts-302070760.html
SOURCE