Monarch expects the mine to return to production by June 2022, and has already made shipments of ore to the mill. There are currently 15,000 tonnes of ore ready for processing when the mill restarts.
“We are pleased to partner with Monarch as it prepares to restart production at its past-producing Beaufor mine later this year and continues to expand near-mine resources with ongoing exploration,” Shaun Usmar, founder and CEO of Triple Flag, said in a news release.
“Beaufor is located in the Abitibi mining camp in Quebec, a top-tier mining jurisdiction, and this royalty will provide Triple Flag with near-term cash flows that will persist for years to come,” Usmar added.
In the last mineral resource update, Monarch more than doubled its measured and indicated mineral resources, and has since drilled a further 25,000 metres.
The Beaufor mine now has measured and indicated resources of 1.3 million tonnes grading 5.3 g/t gold…
