Ero Copper announces closing of streaming agreement with RGLD Gold AG on the NX Gold Mine
August 06 2021 - 8:00AM
Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or
the “Company”) is pleased to announce that it has closed the
previously announced Precious Metals Purchase Agreement (the “NX
Gold Stream”) with RGLD Gold AG (“RG AG”), a wholly owned
subsidiary of Royal Gold, Inc. The Company has received total
upfront cash consideration of US$100 million from RG AG in exchange
for 25% of gold produced from the NX Gold Mine until 93,000 ounces
of gold have been delivered, decreasing to 10% of gold produced
over the remaining life of mine. RG AG will make ongoing payments
equal to 20% of the prevailing spot gold price for each ounce of
gold delivered until 49,000 ounces of gold have been received,
after which it will pay 40% of the prevailing spot gold price for
each ounce of gold delivered.
Full details of the transaction can be found in
the Company’s press release dated June 30, 2021.
ABOUT ERO COPPER CORP
Ero Copper Corp, headquartered in Vancouver,
B.C., is focused on copper production growth from the MCSA Mining
Complex located in Bahia State, Brazil, with over 40 years of
operating history in the region. The Company's primary asset is a
99.6% interest in the Brazilian copper mining company, MCSA, 100%
owner of the MCSA Mining Complex, which is comprised of operations
located in the Curaçá Valley, Bahia State, Brazil, wherein the
Company currently mines copper ore from the Pilar and Vermelhos
underground mines, and the Boa Esperança development project, an
IOCG-type copper project located in Pará, Brazil. The Company also
owns 97.6% of the NX Gold Mine, an operating gold and silver mine
located in Mato Grosso, Brazil. Additional information on the
Company and its operations, including technical reports on the MCSA
Mining Complex, Boa Esperança and NX Gold properties, can be found
on the Company's website (www.erocopper.com), on SEDAR
(www.sedar.com) and on EDGAR (www.sec.gov).
ERO COPPER CORP. |
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Signed: “David Strang” |
For further information contact: |
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David Strang, CEO |
Courtney Lynn, VP, Corporate Development & Investor
Relations |
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(604) 335-7504 |
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info@erocopper.com |
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