Triple Flag Precious Metals Corp. has acquired 5% silver and gold streams from Sierra Sun’s Arcata and Azuca mines in Peru for $35 million. This acquisition aims to increase annual gold equivalent ounces to 5-6 thousand by 2028 while supporting local community programs. The company continues to excel in the precious metals sector with significant year-to-date performance, despite a ‘Sell’ rating from technical sentiment analysis.
Triple Flag Precious Metals Corp. has announced the acquisition of 5% silver and gold streams from the Arcata and Azuca mines in Peru, operated by Sierra Sun Precious Metals S.A.C., for a total of $35 million. This innovative acquisition is projected to enhance Triple Flag’s portfolio by increasing annual gold equivalent ounces (GEOs) to between 5,000 and 6,000 by 2028. Furthermore, it establishes a long-term partnership with Sierra Sun, contributing to the support of local community initiatives.
Triple Flag Precious Metals operates within the precious metals sector, specializing in the acquisition and management of metal streams and royalties. The corporation primarily focuses on gold and silver and positions itself as a strategic partner to mining operators, providing upfront capital in exchange for a share of their future production.
Year-to-date, the company’s price performance stands at 14.21%, with an average trading volume of 150,205 shares. However, the technical sentiment consensus rating for Triple Flag is classified as ‘Sell.’ The current market capitalization of the company is C$4.94 billion.
The acquisition of silver and gold streams from the Arcata and Azuca mines bolsters Triple Flag Precious Metals’ portfolio, promising increased production and fostering community support through partnership. The company’s established position in the precious metals market continues to evolve, although current market sentiment indicates caution.
Original Source: www.tipranks.com
