ExGen Resources has signed a binding letter of intent (LOI) for the acquisition of a silver stream on a past-producing gold mine in Chile. Under the agreement with an arm’s-length private company (PrivateCo), ExGen will receive a 33.4% silver stream until the delivery of 333,334oz of silver, after which it will receive a 16.7% stream on additional silver produced from the asset. As per the LoI, ExGen has paid $500,000 as consideration for the silver stream. This payment was made directly to the vendors ...

Core Viewpoint - Appian Capital has sold two royalty and streaming assets to Versamet Royalties for up to $170 million, with $125 million paid upfront, indicating strong market interest in quality mining assets [1][2]. Group 1: Sale Details - The sale includes a 2.75% net smelter return (NSR) royalty on the Santa Rita polymetallic mine in Brazil and a 90% silver stream on the Rosh Pinah mine in Namibia [2]. - A portion of the sale consideration, $45 million, is contingent on expansion milestones at Santa Rita, including payments tied to processing underground ore and achieving specific throughput rates [7]. Group 2: Asset Overview - Santa Rita is a large open-pit polymetallic mine in Brazil, currently transitioning to underground mining, which is expected to extend its mine life to over 20 years and improve production efficiency [4][6]. - The Rosh Pinah mine in Namibia has been operational for over 55 years, producing significant quantities of zinc, lead, and silver [8]. Group 3: Future Prospects - Versamet plans to fund the acquisition through $180 million in credit facilities from the Bank of Montreal and National Bank of Canada [3]. - Both mines have significant growth catalysts, with the RP2.0 expansion at Rosh Pinah expected to double mill throughput and the Santa Rita underground project nearing a construction decision [12].