Acquisition:
2015 / 10 / 27
Agreement:
Stream
Terms:
20% Ag up to a maximum of 1.2 Mozs of silver annually, until 7.0 Mozs are delivered; then
9% Ag for the life of the mine
Ongoing Payment:
30% of spot
Development Highlights
Cerro Moro contains a number of high-grade epithermal gold and silver deposits, some of which will be mined via open pit and some via underground mining methods. The plant has the capacity to process 1,000 tpd and consists of a crushing, grinding and flotation circuit.
On June 26, 2018, Yamana declared commercial production and in January 2019, Sandstorm began purchasing silver ounces from Cerro Moro.
Following completion of the Yamana acquisition on March 31, 2023, production for the remainder of the year was 3.55 Moz of silver and 84.6 koz of gold. In 2023, Pan American invested $25.4 million in sustaining capital, primarily on near-mine exploration, underground mine development and mine equipment replacements and refurbishments.
Royalty Ounces
Attributable to Sandstorm
| P&P | M&I1 | Inferred | |
|---|---|---|---|
| Cerro Moro GEOs | 9 koz | 7 koz | 4 koz |
1. Measured and Indicated Mineral Resources are Exclusive of Mineral Reserves.
For notes to Royalty Ounces see page 109 to page 112 of our Asset Handbook.
Reserves and Resources
On a 100% Basis
| Tonnage | Grade | Contained | ||
|---|---|---|---|---|
| Proven & Probable |  | 1.0 Mt | 233.3 g/t | 7,500 koz |
| Measured & Indicated1 | | 0.6 Mt | 331.8 g/t | 6,400 koz |
| Inferred | | 0.7 Mt | 168.0 g/t | 3,600 koz |
1. Measured and Indicated Mineral Resources are Exclusive of Mineral Reserves.
For notes to Mineral Reserves and Mineral Resources see page 118 of our Asset Handbook.
