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Mantos (Ag)

Operator: Mantos Copper (private company owned by Orion)
Primary Commodity: Copper
Location: Antofagasta, Chile
Stream:
  • 100% stream on silver production; reducing to 30% after 19.3M oz
  • Transfer payments based on 25% of the prevailing spot silver price
  • 50% buy-down option exercisable in 2020, 2021, or 2022 for US$70M
Production: Total mine:

  • 2017-20 avg. payable production of 0.6M oz Ag
  • Avg. payable production of 1M oz Ag from 2021 onwards; sulphide expansion assumed in 2021

Stream Attributable: 7.1k GEOs in full year 2017


Well-established operating copper mine in top jurisdiction

  • Ex-Anglo American management team with strong understanding of the mine and highly incentivized
  • Significant cost reductions and more de-bottlenecking in progress
  • Drilling underway to add resources
  • Limited historical regional exploration