(All dollar amounts are in United
States dollars unless otherwise indicated)
TSXV: MTA
NYSE AMERICAN: MTA
VANCOUVER, BC, Jan. 21,
2025 /PRNewswire/ - Metalla Royalty &
Streaming Ltd. ("Metalla" or the "Company")
(NYSE American: MTA) (TSXV: MTA) is pleased to report the following
recent developments in its royalty portfolio:
- Tocantinzinho (0.75% GVR) – Q4 production at the
high end of guidance.
- Copper World (0.315% NSR) – Project received final
major permit.
- Côté / Gosselin (1.35% NSR) – Gosselin leading
IAMGOLD's 2025 exploration budget.
- La Guitarra (2.0% NSR)
– Commercial production achieved.
- Tower Mountain (2.0% NSR)
– New surface gold zone discovery.
- Amalgamated Kirkland (0.45%
NSR) – Processing rescheduled for end of 2025.
TOCANTINZINHO (0.75% NSR)
Metalla holds a 0.75% Gross Value Return ("GVR") royalty
on G Mining Venture Corp.'s ("G Mining" or "GMIN")
Tocantinzinho project ("TZ") in Pará, Brazil.
On January 8, 2025, G Mining
announced production during the fourth quarter of 2024 of 40 Koz
gold for a total of 64 Koz gold produced in 2024. During the fourth
quarter of 2024, the TZ plant achieved several days above 100% of
nameplate capacity with recoveries of 89.2%, in line with estimates
in the Feasibility Study dated February 9,
2022.
In the first quarter of 2025, G Mining plans to continue the
ramp up in production and confirm exploration plans for greenfield
and brownfield targets near the mine.
Louis-Pierre Gignac, President
& Chief Executive Officer of G Mining commented:
"Our 2024 milestones mark important steps in GMIN's evolution
from developer to producer, and reflect our strategic execution,
backed by a best-in-class management team, strong partnerships, and
a high-quality portfolio of long-life, low-cost assets that offer
multiple value-creation catalysts. I would like to extend my
appreciation to the GMIN team, our supportive shareholders, our
partners and communities for all your invaluable contributions and
for making 2024 a remarkable year in which we achieved numerous
milestones. I am excited about the opportunities ahead as we enter
2025: we remain committed to creating the next leading intermediate
gold producer, further ramping up production at TZ, advancing
Oko West's feasibility study and
making a construction decision on the Project, and advancing
exploration at our newly acquired CentroGold project in
Brazil."
Metalla holds a 1.0% Net Smelter Return ("NSR") royalty
on 500koz, a 2.0% NSR royalty on next 1Moz, and a 1.0% NSR royalty
thereafter on G Mining's newly acquired CentroGold project.
For more information, please view G Mining's January 8, 2025 Press Release.
COPPER WORLD (0.315% NSR)
Metalla holds a 0.315% NSR royalty on Hudbay Minerals Inc.'s
("Hudbay") Copper World project ("Copper World") in
Arizona, U.S. Copper World is
expected to produce 85 Kt of copper per year over an initial
20-year mine life.
On January 2, 2025, Hudbay
announced the reception of the air quality permit for the Copper
World project from the Arizona Department of Environmental Quality.
The permit was the final major permit required for the development
and operation of Copper World. Hudbay stated that the definitive
feasibility study for Copper World is on track with completion of
the study expected in the first half of 2026. With the major
permits for the project now received, Hudbay intends to commence a
minority joint venture partner process early 2025. A decision to
sanction Copper World is expected in 2026 based on Hudbay's current
estimated timelines.
Peter Kukielski, President and
Chief Executive Officer of Hudbay commented:
"With the receipt of the Air Quality Permit for Copper World, we
firmly believe Hudbay now has the best fully permitted copper
development project in the Americas. We have completed one of the
three key prerequisites in our sanctioning plan for Copper World,
and we intend to advance feasibility studies and our prudent
financial strategy throughout 2025 as we work toward a sanctioning
decision in 2026. Copper World is expected to increase Hudbay's
consolidated annual copper production by more than 50% from current
levels, and the project will be a key contributor to the domestic
U.S. supply chain with our plans to produce Made-in-America
copper."
For more information, please view the Hudbay Mineral's
January 2, 2025 Press Release.
CÔTÉ / GOSSELIN (1.35% NSR)
Metalla holds a 1.35% NSR royalty on IAMGOLD Corporation's
("IAMGOLD") Gosselin project ("Gosselin") and the
northern portion of the Côté mine in Gogama, Canada.
On January 14, 2025, IAMGOLD
announced exploration expenditures for Côté in 2025 will be
approximately $18.6M. Diamond
drilling will continue targeting resource conversion of Inferred
Mineral Resources to Indicated Mineral Resources at Gosselin,
testing the gap area between the Gosselin and Côté zones and
testing the breccia mineralization at depth.
Renaud Adams, President and Chief
Executive Officer of IAMGOLD commented:
"Looking ahead, IAMGOLD is positioned for a very strong 2025, as
the Company is rapidly moving closer to the goal of becoming a
leading, modern Canadian gold producer while strengthening its
balance sheet with assets that are poised to generate significant
value for our stakeholders and partners. At Côté, beyond our focus
on stabilizing operations and achieving nameplate throughput in the
fourth quarter, we will continue to pursue improvements in mining
and processing activities and investigate the potential options to
bring into the mine plan the full resource base estimate of the
Côté and Gosselin zones - which combine for over 16.5 million
ounces of measured and indicated and 4.2 million ounces of inferred
resources – to define Côté Gold among Canada's top gold mines for years to
come."
For more information, please view IAMGOLD's January 14, 2025 Press Release.
LA GUITARRA (2.0%
NSR)
Metalla holds a 2.0% NSR royalty on Sierra Madre Gold & Silver Ltd.'s
("Sierra Madre") La Guitarra project ("La Guitarra") in the Temascaltepec mining
district, Mexico.
On January 9, 2025, Sierra Madre announced full commercial
production at the La Guitarra
complex commenced effective January 1,
2025. The process plant, underground mine and all aspects of
the operation have been running at the current capacity of 500
tonnes per day over the past 90 days.
For more information, please view Sierra
Madre's January 9, 2025, Press
Release.
TOWER MOUNTAIN (2.0%
NSR)
Metalla holds a 2.0% NSR royalty on Thunder Gold Corp's
("Thunder Gold") Tower Mountain project ("Tower
Mountain") near Thunder Bay, Canada.
On January 7, 2025, Thunder Gold
announced the results of the drill program on the P-Target at Tower
Mountain. Highlight intercepts include 1.93 g/t gold over 54.2
meters including 3.64 g/t gold over 10.5 meters and 1.77 g/t gold
over 25.5 meters including 3.55 g/t gold over 7.6 meters.
For more information, please view Thunder Gold's January 7 2025 Press Release.
AMALGAMATED KIRKLAND (0.45%
NSR)
Metalla holds a 0.45% NSR royalty on Agnico Eagle Mines
Limited's Amalgamated Kirkland project ("Amalgamated
Kirkland") near Kirkland Lake, Canada.
During the fourth quarter, Metalla management was notified that
the Amalgamated Kirkland ores were rescheduled to be processed at
the LaRonde complex beginning in Q4 2025 from Q4 2024.
CONVERSION OF INTEREST UNDER CONVERTIBLE LOAN
AGREEMENT
Beedie Capital ("Beedie") will increase their equity
position by electing to convert C$1.5
million of the accrued and unpaid interest (the
"Interest") under the existing convertible loan facility
between Metalla and Beedie (the "Convertible Loan Facility")
into 412,088 common shares of Metalla (the "Share
Conversion"). As per the terms of the Convertible Loan
Facility, any accrued and unpaid interest is convertible into
common shares of Metalla (the "Shares"), at Beedie's
request. The Interest will be converted at a price of C$3.64 per Share, being the closing price of the
Shares on the TSX Venture Exchange (the "TSXV") on
January 13, 2025. The Share
Conversion is subject to the acceptance of the TSXV. Following the
Share Conversion, Beedie will own approximately 10.3% of the
Company's issued and outstanding common shares.
In addition to the Share Conversion, Metalla is also planning on
making a payment of approximately C$2.0
million on January 31, 2025,
which will reduce all outstanding accrued fees and accrued interest
to zero as of the payment date. As per the terms of the Convertible
Loan Facility, the principal balance outstanding under the facility
will remain convertible at C$6.00.
QUALIFIED PERSON
The technical information contained in this news release has
been reviewed and approved by Charles
Beaudry, geologist M.Sc., member of the Association of
Professional Geoscientists of Ontario and of the Ordre des Géologues du
Québec. Mr. Beaudry is a QP as defined in National Instrument
43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101").
ABOUT METALLA
Metalla was created to provide shareholders with leveraged
precious and strategic metal exposure by acquiring royalties and
streams. Our goal is to increase share value by accumulating a
diversified portfolio of royalties and streams with attractive
returns. Our strong foundation of current and future
cash-generating asset base, combined with an experienced team,
gives Metalla a path to become one of the leading royalty
companies.
For further information, please visit our website at
www.metallaroyalty.com.
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accept responsibility for the adequacy or accuracy of this
alert.
The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from registration requirements.
Technical and Third-Party Information
Metalla has limited, if any, access to the properties on
which Metalla holds a royalty, stream or other interest. Metalla is
dependent on (i) the operators of the mines or properties and their
qualified persons to provide technical or other information to
Metalla, or (ii) publicly available information to prepare
disclosure pertaining to properties and operations on the mines or
properties on which Metalla holds a royalty, stream or other
interest, and generally has limited or no ability to independently
verify such information. Although Metalla does not have any
knowledge that such information may not be accurate, there can be
no assurance that such third-party information is complete or
accurate. Some information publicly reported by operators may
relate to a larger property than the area covered by Metalla's
royalty, stream or other interests. Metalla's royalty, stream or
other interests can cover less than 100% and sometimes only a
portion of the publicly reported mineral reserves, resources and
production of a property.
Unless otherwise indicated, the technical and scientific
disclosure contained or referenced in this alert,
including any references to mineral
resources or mineral reserves, was prepared in accordance with
Canadian NI 43-101, which differs
significantly from the requirements of the U.S. Securities and
Exchange Commission (the
"SEC") applicable to U.S.
domestic issuers. Accordingly, the scientific and technical
information contained or referenced in this alert may
not be comparable to similar information made public
by U.S. companies subject to the reporting and
disclosure requirements of the SEC.
"Inferred mineral
resources" have a great amount of uncertainty as
to their existence and great uncertainty as to
their economic and legal feasibility. It
cannot be assumed that all or any part of an inferred mineral
resource will ever be upgraded to a
higher category. Historical results or feasibility models presented
herein are not guarantees or expectations of
future performance.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This alert contains forward-looking
statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of
applicable securities legislation. Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", "is expected", "budgets",
"scheduled", "estimates", "forecasts", "predicts", "projects",
"intends", "targets", "aims", "anticipates" or "believes" or
variations (including negative variations) of such words and
phrases or may be identified by statements to the effect that
certain actions "may", "could", "should", "would", "might" or
"will" be taken, occur, or be achieved. Forward-looking statements
include, but are not limited to, the statements of the property
owners/operators with respect to the properties on which Metalla
holds a royalty; the continued ramp up at TZ and the timing
thereof; the confirmation of exploration plans for greenfield and
brownfield targets near the mine at TZ and the timing thereof; the
continued development at CentroGold; the expected mine life and
commercial production at Copper World; completion of a feasibility
study for Copper World and the timing thereof; the commencement by
Hudbay of a minority joint venture partner process for Copper World
and the timing thereof; any decision by Hudbay to sanction Copper
World; the exploration expenditures for Côté in 2025; continued
diamond drilling at Gosselin; expected improvements in mining and
processing activities at Côté; expected processing of Amalgamated
Kirkland ores; the acceptance of the TSXV to the Share Conversion;
the closing of the Share Conversion; Metalla's payment of
C$2 million under the Convertible
Loan Facility and the timing thereof; the expectations generally of
Metalla the property owners/operators and the authors of relevant
technical reports and studies with respect to the mineral projects
in which Metalla has an interest, including without limitation,
estimates of mineral resources and mineral reserves and updates
thereto, production, mine life, NPV, IRR, costs, drilling,
development, permitting, water sourcing, commodity mix and prices,
and the timing thereof; future
opportunities and acquisitions; future exploration,
financing, development, production and other anticipated
developments on the properties in which the Company
has or has agreed to acquire an interest; future
growth, increased share value, cash generation and returns; and
Metalla having a path to becoming a leading gold and silver royalty
company.
Forward-looking statements and information are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties, and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Metalla to control or predict, that may cause
Metalla's actual results, performance or achievements to be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including but not limited to: the
production at TZ may not continue to ramp up as anticipated; that G
Mining may not confirm the exploration plans for greenfield and
brownfield targets near the mine at TZ at all or in the expected
timing; that CentroGold may not continue to develop as expected;
that the mine life and commercial production at Copper World may
differ from expectations; that Hudbay may not complete a
feasibility study for Copper World at all or in the expected
timing; that Hudbay may not start the minority joint venture
partner process for Copper World at all or in the expected timing;
that Hudbay may not decide to sanction Copper World at all or in
the expected timing; that the exploration expenditures for Côté may
differ from the expectations; that diamond drilling may not
continue at Gosselin; that the mining and processing activities at
Côté may not improve as expected; that the Amalgamated Kirkland
ores may not be processed as expected; that the Company may not
obtain approval of the TSXV for the Share Conversion; that the
Share Conversion will not be completed at all or in the terms
announced; that the Company will not make the payment of
C$2 million under the Convertible
Loan Facility at all or in the expected timing; the absence of
control over mining operations from which Metalla will purchase
precious metals or from which it will receive stream or royalty
payments and risks related to those mining operations, including
risks related to international operations, government and
environmental regulation, delays in mine construction and
operations, actual results of mining and current exploration
activities, conclusions of economic evaluations and changes in
project parameters as plans are refined; problems related to the
ability to market precious metals or other metals; industry
conditions, including commodity price fluctuations, interest and
exchange rate fluctuations; interpretation by government entities
of tax laws or the implementation of new tax laws; regulatory,
political or economic developments in any of the countries where
properties in which Metalla holds a royalty, stream or other
interest are located or through which they are held; risks related
to the operators of the properties in which Metalla holds a royalty
or stream or other interest, including changes in the ownership and
control of such operators; risks related to global pandemics,
including the current novel coronavirus (COVID-19) global health
pandemic, and the spread of other viruses or pathogens; influence
of macroeconomic developments; business opportunities that become
available to, or are pursued by Metalla; reduced access to debt and
equity capital; litigation; title, permit or license disputes
related to interests on any of the properties in which Metalla
holds a royalty, stream or other interest; the volatility of the
stock market; competition; future sales or issuances of debt or
equity securities; use of proceeds; dividend policy and future
payment of dividends; liquidity; market for securities; enforcement
of civil judgments; and risks relating to Metalla potentially being
a passive foreign investment company within the meaning of U.S.
federal tax laws; and the other risks and uncertainties disclosed
under the heading "Risk Factors" in the Company's most recent
annual information form, annual report on Form 40-F and other
documents filed with or submitted to the Canadian securities
regulatory authorities on the SEDAR website at www.sedar.com and
the U.S. Securities and Exchange Commission on the EDGAR website at
www.sec.gov. Metalla undertakes no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents management's best
judgment based on information currently available. No
forward-looking statement can be guaranteed, and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements.
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SOURCE Metalla Royalty & Streaming Ltd.