Welcome!

News Feed Item

Mineral Streams Announces Acquisition of Royalties on Barrick Gold's Hemlo Complex

TORONTO, ONTARIO -- (Marketwired) -- 02/26/14 -- Mineral Streams Inc. ("the Company" or "Mineral Streams") is pleased to announce the acquisition of two cash flowing royalties on Barrick Gold Corporation's Hemlo complex, located near Marathon, Ontario, approximately 350 kilometres east of Thunder Bay. The royalties are comprised of a 0.25% Net Smelter Return ("NSR") on the Williams Mine and a 1.5% NSR on the David Bell mine, which together form the Hemlo complex. The Hemlo royalties acquisition (the "Transaction"), the Company's inaugural royalty investment, was purchased from a private party in exchange for a combination of cash and common shares in Mineral Streams. As part of the Transaction, Mineral Streams was entitled to receive the fourth quarter 2013 royalty payment which totaled approximately $252,000.

Gordon McKinnon, President and CEO of Mineral Streams commented, "We are pleased to enter the royalty business with these two cash flowing royalties, on outstanding assets operated by a major global gold company. These royalties will serve as our foundation, provide us with immediate free cash flow and the ability to selectively seek out and evaluate other investment opportunities. Going forward our investment thesis extends beyond precious metals and could include opportunities in base metals, oil and gas, as well as specialty metals, depending on the respective investment opportunity and risk adjusted projected return."

Will Ansley, Chief Operating Officer of Mineral Streams, said, "The Hemlo complex is located in a top-tier geopolitical jurisdiction and has been in production for decades with recovered gold exceeding 25 million ounces. Over the past five years Hemlo has produced between 200,000 - 275,000 ounces of Au annually and based on existing reserves we anticipate the complex will continue to operate for at least another five years and, as demonstrated in the past, has the opportunity to be extended further."


Hemlo Mineral Reserves as of December 31, 2013 (i)
----------------------------------------------------------------------------
Category                                                           Contained
                                          Tons       Au Grade         Ounces
                                                        (oz/t)            Au
----------------------------------------------------------------------------
Proven                               1,700,000          0.078        133,000
----------------------------------------------------------------------------
Probable                            12,412,000          0.071        886,000
----------------------------------------------------------------------------
Total                               14,112,000          0.072      1,019,000
----------------------------------------------------------------------------

Hemlo Mineral Resources as of December 31, 2013 (i)
----------------------------------------------------------------------------
Category                                                           Contained
                                          Tons       Au Grade         Ounces
                                                        (oz/t)            Au
----------------------------------------------------------------------------
Measured                               336,000           0.11         37,000
----------------------------------------------------------------------------
Indicated                           57,917,000          0.032      1,866,000
----------------------------------------------------------------------------
Total Measured & Indicated          58,253,000          0.033      1,903,000
----------------------------------------------------------------------------
Inferred                             1,680,000          0.143        241,000
----------------------------------------------------------------------------

(i) Per Barrick Gold Corporation's Mineral Reserves and Mineral Resources
 Statement effective December 31, 2013. Mineral resources are in addition to
 mineral reserves.

This press release has been prepared under the supervision of Mr. Randall Salo (P.Geo.), who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Salo has verified the technical data disclosed in this press release.

About Mineral Streams Inc.

Mineral Streams, a private Canadian company, is focused on the underwriting and acquisition of royalties, streaming agreements and other project investments in the mining sector. The Company is cash flow positive and is in the process of developing, through acquisition, a diversified portfolio of metal streams and royalties, targeting high-quality, small to mid-sized assets. Mineral Streams was founded and is led by a team of senior professionals comprised of Gordon McKinnon, Chief Executive Officer and Director, Will Ansley, Chief Operating Officer, and Fraser Laschinger, Chief Financial Officer and Director. For more information please visit www.mineralstreams.com.

Cautionary Statement

This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" or the negative of these words or other variations on these words or comparable terminology. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations regarding the Hemlo royalties, the ability of Mineral Streams to continue raising capital and sourcing royalty and stream transactions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors set out in filings made from time to time with Canadian securities regulators and the United States Securities and Exchange Commission. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Mineral Streams disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Mineral Streams undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Mineral Streams, its financial or operating results or its securities.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Pentaho has announced orchestration capabilities that streamline the entire machine learning workflow and enable teams of data scientists, engineers and analysts to train, tune, test and deploy predictive models. Pentaho’s Data Integration and analytics platform ends the ‘gridlock’ associated with machine learning by enabling smooth team collaboration, maximizing limited data science resources and putting predictive models to work on big data faster – regardless of use case, industry, or languag...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Addteq will exhibit at SYS-CON's DevOps Summit at Cloud Expo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Addteq specializes in creating innovative solutions to solve business processes through the use of DevOps automation. Addteq was founded on the firm belief that automation is essential for successful software releases. Addteq's products and services are centered around the fundamental approach of understanding the pr...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
Peak 10 has announced that it has completed a 20,000 square foot expansion of its Cincinnati-area data center, a 6,000 square foot expansion of its data center campus in Charlotte’s University Research Park, and added a pair of seasoned executives to its leadership team. This further propels the company on its aggressive growth trajectory to meet the rising demand for flexible hybrid IT strategies and solutions across its enterprise customer base. Cincinnati is home to companies like Kroger, Pr...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...