Clean Air Metals received the first C$10 million tranche on Dec. 19 and has the right to buy down up to 40% of the NSR royalty and reduce the NSR percentage to 1.5% within a three-year period. The company has granted Triple Flag a right of first refusal to match any other offers for stream, royalty or similar financing agreements.
The junior exploration company is planning a preliminary feasibility study on the project next year.
A preliminary economic assessment completed in Dec. 2021 outlined a 10-year ramp-access underground mine plan on the project’s two deposits—Current and Escape—and a 3,600 tonne per day milling complex. Initial project capital costs were estimated at C$367.2 million with total capital costs of C$536 million.
The project’s two deposits contain total indicated resources of 14.6 million tonnes grading 1.54 grams palladium per tonne, 1.58 grams platinum per tonne, 0.10 gram gold per tonne, 2.30 grams…
