Triple Flag CEO Sees Robust Pipeline for Mining Production Deals – by Yvonne Yue Li (Bloomberg News – June 3, 2021)

(Bloomberg) — Triple Flag Precious Metals Corp. is seeing plenty of good opportunities for mining production deals despite a precious metals rally fueled by the pandemic.

“The pipeline has been really robust and busy,” Chief Executive Officer Shaun Usmar said in a Bloomberg TV interview. “When I look at how we built this business over the five years, we have seen over 500 opportunities for the assets we’ve got.”

Usmar founded Triple Flag in 2016 as a gold-focused streaming and royalty company, and last week the firm made its Toronto Stock Exchange debut after closing its $250 million initial public offering. The Toronto-based company joins a growing list of publicly traded firms that help fund mining projects in return for part of their future revenues.

Streaming companies, which include Franco-Nevada Corp. and Wheaton Precious Metals Corp., give miners upfront financing in exchange for the right to buy produced metals in future at a discount.

These firms are typically able to ink deals with big mining companies such as Barrick Corp. and Freeport-McMoRan Inc. when metals prices are declining and producers are desperate for cash — circumstances opposite to what’s happening these days.

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