Triple Flag Acquires Ravenswood Gold Stream for $440 Million

Triple Flag Precious Metals Corp. has agreed to acquire a gold stream agreement related to the Ravenswood gold mine in Australia for $440 million. The transaction adds a significant production stream to the company's existing portfolio, supporting its growth strategy. The acquisition includes the right to purchase a specified amount of gold from current and future production at the Ravenswood mine. Triple Flag aims to achieve approximately 50,000 ounces of annual gold production through this agreement. The deal is expected to close in the first quarter of 2024. The company will finance the acquisition using its existing cash reserves and credit facilities. Triple Flag seeks to create value for its investors by gaining access to low-cost, long-term gold production through such streaming agreements. The Ravenswood mine, located in Queensland, produces approximately 100,000 ounces of gold annually. This agreement is considered part of Triple Flag's growth strategy and provides protection against fluctuations in gold prices. This is not investment advice.