Royalty Holder……..Carnegie Wave
Revenue……………..…..…………..$2.5m
Mine Life...……………..….3 to 12 years
Commodity…………...……………….Gold
Operator………………...……....Metals X

#4 Higginsville

Carnegie Wave Energy is a renewable energy play, generating electricity from bobbing buoys.

Through founder Alan Burns, it held mining claims in the 1990s and still holds a royalty over the Trident underground gold mine in Western Australia, part of the Higginsville complex, owned by Perth-based tin and gold miner Metals X.

Very little has been publicly disclosed, but the royalty appears to be administered by Morgan Stanley and was restructured last year from 4 to 1.75 per cent, after Metals X called the royalty “crippling”. In exchange, its footprint was expanded from Trident to the wider Higginsville complex.

Based on current output of 130,000 gold ounces per annum, the royalty could be worth $2.5m each year, in line with royalty revenue previously reported by Carnegie.

 

 

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