- EMX Royalty Corporation (EMX) has announced commercial production for oxide gold mineralization at its flagship Gediktepe royalty property in western Turkey
- EMX holds a 10 per cent net smelter return royalty on oxide gold production at Gediktepe
- The operator has produced over 10,000 ounces of gold equivalent ounces, triggering the payment of production royalty payments to EMX
- The Gediktepe royalty was acquired by EMX as part of its purchase of a portfolio of royalties from SSR Mining Inc. in 2021
- In addition to the royalty production payments, EMX is slated to receive production payments totalling US$10,000,000
- EMX is a precious, base and battery metals royalty company with a portfolio of properties North America, Europe, Turkey, Australia, Chile, and Haiti
- EMX Royalty Corporation (EMX) opened trading at C$2.42
EMX Royalty Corporation (EMX) has announced commercial production for oxide gold mineralization at its flagship Gediktepe royalty property in Turkey.
EMX holds a 10 per cent net smelter return royalty on oxide gold production at Gediktepe. Operator Polimetal Madencilik Sanayi ve Ticaret A.S. has informed EMX that it has produced over 10,000 ounces of gold equivalent ounces, triggering the payment of production royalty payments to EMX.
In addition to the oxide gold royalty, EMX also owns a 2 per cent NSR royalty on production from an underlying polymetallic copper, zinc, lead and gold deposit that is slated for future development.
The Gediktepe royalty was acquired by EMX as part of its purchase of a portfolio of royalties from SSR Mining Inc. in 2021. On a go forward basis, Polimetal expects to produce between 35,000 and 45,000 ounces of gold per year from Gediktepe while mining the oxide gold cap over the next 3-4 years.
In addition to the royalty production payments, EMX is slated to receive cash payments of US$4,000,000 on the first anniversary of commercial production for oxide gold mineralization, US$3,000,000 on the date that commercial production commences from the underlying sulfide deposit, and US$3,000,00 on the first anniversary of the commencement of commercial production from the sulfide deposit.
EMX is a precious, base and battery metals royalty company. The company’s royalty and exploration portfolio consists of properties in North America, Europe, Turkey, Australia, Chile, and Haiti.
EMX Royalty Corporation (EMX) opened trading at C$2.42.