Triple Flag Precious Metals has secured 5% silver and gold streams from Peru’s Arcata and Azuca mines for $35 million. This acquisition aims to increase gold equivalent production to 5,000-6,000 ounces annually by 2028 while fostering community support through a partnership with Sierra Sun.
Triple Flag Precious Metals Corp. has announced the acquisition of 5% silver and gold streams from the Arcata and Azuca mines in Peru, operated by Sierra Sun Precious Metals S.A.C., at a cost of $35 million. This move is anticipated to enhance Triple Flag’s portfolio with a projected increase in gold equivalent ounces (GEOs) by 5,000 to 6,000 annually by 2028. The acquisition also signifies a commitment to long-term partnership with Sierra Sun to support local community initiatives.
Triple Flag Precious Metals operates in the precious metals sector, specializing in acquiring and managing metal streams and royalties. The company’s business model revolves around providing upfront capital to mining operators in exchange for a share of their future production, primarily focusing on gold and silver. This strategic positioning helps maintain its competitive edge within the market.
As of the latest update, Triple Flag’s year-to-date price performance stands at 14.21%, with an average trading volume of 150,205 shares. The current market capitalization of the company is approximately C$4.94 billion, although the technical sentiment consensus rating indicates a sell stance for the stock.
The acquisition of silver and gold streams from Sierra Sun represents a strategic enhancement for Triple Flag Precious Metals, expected to significantly boost their gold equivalent production in the coming years. This move illustrates Triple Flag’s commitment to long-term partnerships in expanding its operational footprint while supporting local communities.
Original Source: www.tipranks.com
