Maverix Metals to Acquire Silver Stream on Northern Vertex’s Moss Mine

Maverix Metals (TSXV:MMX) announced that it has signed a term sheet to acquire a silver stream from Northern Vertex Mining’s (TSXV:NEE) Moss mine in Arizona.

Highlights from the press release are as follows:

• Expanded Asset Base and Immediate Increase to Cash Flow: With the Moss Mine recently achieving commercial production in September 2018, the silver stream will generate immediate revenue for Maverix, adding to its already strong cash flow.  

• Low-Cost Operating Asset in Stable Jurisdiction: The Moss Mine is a low-cost open pit mining and heap leach operation located in northwest Arizona, a stable mining jurisdiction with a long history of mining operations.  

• Accretive Transaction: The Transaction is accretive to Maverix across all key metrics, including net asset value, cash flow, and attributable gold equivalent production.  

• Long Mine Life with Significant Exploration and Expansion Potential: Current Measured and Indicated resources of 4.6 million ounces of silver (15.5 million tonnes at 9.3 g/t silver) are sufficient to support an initial 10- year mine life. In October 2017, Northern Vertex announced the results of a Preliminary Economic Assessment (“PEA”) of the technical and economic viability of expanding the Moss Mine to include resources that could be accessed by a future expansion of operations. Additionally, Maverix will be exposed to the significant regional exploration potential around the Moss mine.

Click here for the full press release.