GEORGETOWN, CAYMAN ISLANDS, December 20, 2019 /EINPresswire.com/ — SilverStream SEZC (“SilverStream”) is pleased to announce it has entered into an agreement to acquire two royalties (the “Royalties”) from Ochre Group Holdings Ltd (“Ochre”). The royalties include a 0.85% Gross Revenue Royalty over the Bowdens Silver Project and the Barabolar Exploration Project and an additional 1.0% Gross Revenue Royalty over several exploration tenements surrounding both properties.
Bowdens Silver Project is the largest undeveloped silver project in Australia and one of the largest globally. The project is owned and operated by ASX-listed Silver Mines Limited. A feasibility study undertaken in 2018 presents a 16-year mine life with total production of 52Moz of silver, 108Kt of zinc and 79kt of lead recovered in concentrate. The Barabolar project and surrounding tenements are prospective and actively being explored for high-grade silver-lead-zinc epithermal and volcanogenic massive sulphide (VMS) systems and porphyry and skarn hosted copper-gold-molybdenum targets. Both royalties encompass a total land package of over 1,600km2 in NSW.
Kyle Floyd, CEO of SilverStream, commented “The acquisition of the Bowdens and Barabolar royalties provide SilverStream with substantial leverage to silver prices over one of the largest undeveloped primary silver projects worldwide and adds significant upside exposure from a promising and highly prospective exploration package. In addition, we would like to take the opportunity to welcome Ochre as a shareholder of SilverStream and look forward to the continued success of Silver Mines’ development of the project”.
SilverStream is a mining-focused royalty and streaming company fixated on continuing to build a portfolio of royalties and streams across a diverse commodity base. We have a basket of royalties covering precious, base, battery and specialty metals. Our portfolio consists of >20 royalties and streams globally, with both cash-flowing and longer-term growth-oriented assets.
This news release contains certain information which constitutes ‘forward-looking statements’ and ‘forward-looking information’. Forward-looking statements involve known and unknown risks, most of which are beyond SilverStream's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements.
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Source: EIN Presswire