Abitibi Royalties Inc.

Description

Abitibi Royalties Inc is engaged in the exploration and development of mineral properties in Canada. The firm also deals in acquisition of royalties.

The company receives royalty interest from gold properties and aims to become one of the largest royalty companies in the country.

Abitibi Royalties Inc, founded in 2010, is listed on the TSX Venture Exchange. The trading symbol is ‘RZZ’.

Canadian Malartic Mine

It is reportedly one of the largest gold-producing mines globally. Abitibi’s receives three per cent net smelter royalty from Odyssey an underground deposit in the Canadian Malartic Mine.

In addition, it receives additional royalty interest from various mineralized zones, including:

• East Malartic zone: The royalty company receives three per cent NSR from this gold producing deposit at Malartic camp located adjacent to the Canadian Malartic Mine.

• Barnat Extension and Jeffrey Zone: Three per cent NSR from a separate deposit located at the Canadian Malartic open pit mine.

• Midway Project: The project consists of numerous mineralized zones with 1.5 per cent NSR.

• Radium Property: The property consists of Radium gold zone where the mining firm holds 15 per cent net profit interest.

Further, the Canadian company covers a two per cent NSR at the Charlie and Gouldie zone, owned and operated by Yamana Gold and Agnico Eagle. The Gouldie zone is situated approximately 300 meters south of the Canadian Malartic mine, while the Charlie Zone is located 100 meters from Gouldie’s northeast.

The exploration company aims to conduct a drill hole program on both zones to discover open pit and underground deposits.

The company’s diversified portfolio consists of near mine royalties operates by various organizations, such as:
• Malartic South property
• New Alger and Cadillac project
• Baden Prospect
• Smokehead Prospect
• Bachelor East Prospect
• VMS Prospect

Tamarack Gold Resources Inc operates the Malartic South property located in Quebec. Abitibi Royalties receives two to three per cent NSR.

The Thomson River and Tamarack project is operated by Agnico Eagle Mines and Tamarack Gold Resources with holds 1.5 and 1 per cent NSR, respectively.

The New Alger and Cadillac project, nearest to La Ronde mine, is owned and operated by Agnico Eagle Mines and Renforth Resources. While, the Smokehead Prospect, located close to Canadian Malartic Mine, is owned and operated by Golden Valley Mines Ltd.

In addition to these, the mining firm has three fully-owned projects, namely Hammond Reef South Gold Property, Bullfrog South Property, and Upper Red Lake Project.