Royalty Holder……...Metalla Royalty
Revenue……………..…..……................nil
Mine Life...………..............................n.a.
Commodity……………….................Gold
Operator...............................Goldcorp

#5 Hoyle Pond

Toronto-listed Metalla Royalty (previously called Excalibur), has scraped together four small gold royalties in the last year under president Brett Heath, who formally joined in September.

Metalla says it has built a “$50m pipeline of streaming and royalty transactions.” Big promises come with the territory, but what does Metalla already have?

Its flagship royalty is a 1 per cent claim over part of the Hoyle Pond project in Ontario, where gold giant Goldcorp recently sunk a new shaft. Royalties will not kick in until half a million ounces of gold have been mined, so cash flow is unlikely to materialise before 2021. Metalla also a 1.5 per cent royalty over part of Tahoe's West Timmins mine, expected to hit cash flow sooner.

Metalla has C$5.7m ($4.3m) in cash, so could chase other bit-part royalty assets, getting mopped-up itself, if it can convert transactions into cash flow. Heath says he is focusing on $2m to $10m deals, an end of the market he thinks is “underserved.” An obvious place to start would be with Quebec-based Matamec Explorations, which also has a royalty bordering Goldcorp's Hoyle Pond mine.

 

 

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