Summary:
Metalla Royalty owns a 1% GVR Royalty on the Wharf mine. Wharf is an open pit, heap leach operation located in the Northern Black Hills of South Dakota acquired by Coeur in February 2015 from Goldcorp Inc. for cash consideration of approximately $99.5 million. The mine has been a consistent free cash flow generating asset for Coeur and consists of several areas of adjoining gold mineralization, which have been mined as a series of open pits. The mine produced 93,348 ounces of gold in 2023. Coeur has set the production guidance range of 86-96 Koz for 2024. The production outlook for 2023 - 2025 is expected to be in the range of 265 - 285 Koz gold.
Wharf has been in production since 1983. Coeur acquired the asset in 2015 from Goldcorp Inc. (now Newmont Corporation) and subsequently increased plant efficiency and replaced reserves through exploration. During Coeur’s ownership, it has generated cumulative free cash flow from Wharf of approximately $175.0 million. Additionally, Wharf has a mine life of approximately seven years.
Interest: 1.0% Gross Value Royalty
Location: Lead, South Dakota
Project Status: Production
Counterparty: Coeur Mining
* For royalty ounce calculation, Metalla estimates 100% of the Wharf Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 1.0%.
