Mar. 31 at 10:46 AM
$ERO Ero Copper extends Metals Purchase Agreement with RGLD Gold
Ero Copper is pleased to announce that, in return for upfront proceeds of
$50M, it has extended the June 2021 Precious Metals Purchase Agreement with RGLD Gold AG, a wholly owned subsidiary of Royal Gold Inc., under an additional precious metals purchase agreement in relation to a portion of future gold production from the Xavantina Operations in Mato Grosso, Brazil. The Stream Supplement is incremental to the Original Xavantina Stream. Under the terms of the Stream Supplement, Ero has received a further
$50M in proceeds from Royal Gold, bringing total proceeds from Royal Gold under the Xavantina streaming agreements to
$160M since 2021.
In exchange, the company has extended the gold delivery threshold milestones under Stage II and has agreed to expand the area of influence covered by the stream to incorporate additional tenements acquired by the company since the Original Xavantina Stream was completed. The delivery of additional ounces under the Stream Supplement is expected to commence in 2028.
