In return for its $8 million funding, Triple Flag will obtain an extra 1.67% NSR royalty on the challenge. Talon will even situation 8 million frequent share warrants, every exercisable by Triple Flag for a interval of two years at a worth of C$0.20.
Talon retains the appropriate to purchase again the royalty for $5 million and cut back Triple Flag’s royalty to 1%. Triple Flag also can improve its royalty by an extra 0.5% for $2 million, and this could terminate Talon’s buyback rights.
The Talon deposit incorporates 8.6 million indicated tonnes grading 1.73% nickel, 0.92% copper, 0.05% cobalt, plus platinum, palladium and gold. The inferred useful resource is 8.5 million tonnes at 0.83% nickel, 0.55% copper, 0.02% cobalt, plus treasured metals.