Nomad Royalty Company Ltd (TSE:NSR) (OTCQX:NSRXF) (FRA:IRLB) revealed it had delivered a record 5,575 gold equivalent ounces during the first quarter of 2021 from its royalty and streaming assets.
The Montreal-based company recorded preliminary revenues of US$9.7 million for the three-month period ended March 31, 2021, resulting in preliminary cash operating margin of $7.9 million, according to a statement.
Nomad also told shareholders that it had received its first shipment of gold from the Blyvoor mine in South Africa, where operations have resumed and production is ramping up after an “unlawful blockade” by members of a local union.
READ: Nomad Royalty unveils amendments to its Mercedes and South Arturo streams following Premier Gold Mines acquisition
Nomad owns a portfolio of 14 royalty and stream assets around the globe, six of which, are on currently producing mines.
The company also provided an operational update on a selection of its assets.
At the Robertson asset in Nevada, which is jointly owned by Barrick Gold Corporation (NYSE:GOLD) (TSE:ABX) (FRA:ABR) and Nevada Gold Mines, Nomad said that Barrick had reported that Robertson was to be a “meaningful” contributor to its nearby Cortez operation by 2025.
At the Moss mine, the largest pure precious metals mine in Arizona, owner Northern Vertex has outlined a large scale exploration program for 2021, with a focus on resource expansion.
In Canada, the Blackwater operation continues to head towards production, Nomad said, with financing in place and a definitive feasibility study planned for 2021.
At the Troilus gold project, Nomad told investors that owners Troilus Gold are seeing “great” exploration results on the Southwest Zone. The company is planning an updated resource estimate and prefeasibility study in the second half of 2021.
In April, Nomad announced an amendment to the Mercedes stream agreement with Equinox Gold Corp following its acquisition of Premier Gold Mines Limited. Nomad will now receive fixed quarterly gold deliveries of 1,000 ounces, plus an additional 6.5% of any adjusted amount payable in refined gold. The gold prepay loan agreement held by Nomad was also terminated, it added.
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