Triple Flag Precious Metals announced that its wholly owned subsidiary, Triple Flag International, has completed the previously announced acquisition of a gold stream on the producing Ravenswood Gold Mine in Queensland, Australia.
The transaction is valued at $440 million. First delivery under the Ravenswood gold stream is expected to begin in the third quarter of 2026.
Ravenswood is a large-scale, long-life gold mine that has been in continuous operation since 1987. Triple Flag said the mine is ramping up toward more than 200,000 ounces of gold per year by 2028.
Triple Flag also noted that Ravenswood has a large and prospective 1,800-square-kilometer land package, which provides additional upside potential.
The acquisition of the Ravenswood stream is expected to serve as a key growth asset for Triple Flag. The company previously increased its 2030 outlook to 150,000 to 160,000 gold equivalent ounces, up from its prior outlook of 140,000 to 150,000 GEOs.
Triple Flag said several milestones across its asset base during the first half of the year also support additional GEO growth beyond 2030. These include a positive construction decision at Hope Bay, positive economic studies at Arthur and Kemess, and the advancement of a potential 10 Mtpa or larger mill expansion at Northparkes.
The company said its growth profile is supported by assets located in mining-friendly jurisdictions across the United States, Canada, and Australia.
Triple Flag is a precious metals streaming and royalty company that provides investors with exposure to gold and silver across 242 assets. Its portfolio includes 17 streams and 225 royalties, primarily across the Americas and Australia.
The company’s streams and royalties are connected to mining assets at various stages, including 36 producing mines and 206 development and exploration-stage projects and other assets.
KEY QUOTES:
“We are very pleased to announce the completion of our gold stream acquisition on the Ravenswood Gold Mine, a large-scale, long-life, low-cost operation ramping up to over 200,000 ounces of gold per annum by 2028. The Ravenswood Gold Mine has a long history of continuous operation since 1987, and we fully expect the mine to continue its strong track record of successful conversion of resources into reserves, with further upside potential from a large and prospective 1,800 km2 land package.”
“With the acquisition of the Ravenswood Stream serving as a key growth asset for Triple Flag, we have increased our 2030 outlook to 150,000 to 160,000 GEOs from 140,000 to 150,000 GEOs, as previously announced. The milestones achieved by our assets in the first six months of the year have also been impressive, supporting further GEOs growth beyond 2030, and include a positive construction decision at Hope Bay, positive economic studies at both Arthur and Kemess, and the advancement of a potential 10 Mtpa or more mill expansion at Northparkes. This growth is from assets located in mining-friendly jurisdictions across the United States, Canada and Australia, and will drive value for our shareholders for decades to come.”
Sheldon Vanderkooy, CEO of Triple Flag
