Star Royalties CEO Alex Pernin joined Steve Darling from Proactive to share news the company has signed a definitive royalty purchase agreement with Almadex Minerals. That agreement is for an existing 2% net smelter return royalty on the Elk Gold Mine which is in BC, Canada.
Pernin telling Proactive Gold Mountain, which owns and operated the Elk Gold Mine, has started operations and expects first revenue in Q4 2021. Royalty revenue is expected to increase and average $2 million per annum post-year 3 based on current gold prices.