The Group has a 0.5% life of mine NSR royalty over the Cañariaco copper project (‘Cañariaco’) located in Northern Peru and owned by TSX-listed Candente Copper Corp. (‘Candente’). Cañariaco is a large-scale copper project which includes the Cañariaco Norte deposit, the Cañariaco Sur deposit and Quebrada Verde prospect located 3.5km south of Cañariaco Norte and immediately south-southwest of Cañariaco Sur. Cañariaco Norte has a delineated Resource estimate totalling 7.5bn pounds of contained copper in the Measured and Indicated category, plus 1.4bn pounds of contained copper in the Inferred category.
Under the royalty acquisition agreement, Anglo Pacific agreed to additional contingent consideration as follows:
• 20% of royalty payments received up to 31 December 2029;
• 15% of royalty payments received between 1 January 2030 and 31 December 2034; and
• 10% of royalty payments received between 1 January 2035 and 31 December 2039.