Triple Flag International Ltd. acquires Gold Stream from the Ravenswood Gold Mine (Ravenswood Gold Pty Ltd.)
for $440m

Triple Flag International Ltd., an Australia-based precious metals streaming company, has entered into a gold stream agreement with Ravenswood Gold Pty Ltd., also based in Australia. The deal is valued at $440 million and was announced on June 12, 2026, with the transaction closing on June 1, 2026.

The gold stream agreement provides Triple Flag with a 5.50% production rate until 194.2 thousand ounces of gold are delivered from the Ravenswood Mine in Queensland, Australia. After that milestone is reached, the rate drops to 3.75%, and once another threshold of deliveries is met, it will further reduce to 2.50%. The arrangement also includes a security over tenements contingent upon Foreign Investment Review Board (FIRB) approval as well as a right of first offer on any new streams or royalties.

This strategic move by Triple Flag aims at securing production from the Ravenswood Mine, which is characterized by its longevity and low operational costs. With a focus on sustainable mining systems and long-term profitability, this deal underscores Triple Flag's commitment to expanding its portfolio in stable jurisdictions.

Ravenswood Gold Pty Ltd., with its primary asset being the Ravenswood gold mine, sees significant potential for growth through this partnership. The agreement includes financial support and operational flexibility that will help optimize the mine’s output while adhering to environmental standards and community engagement initiatives.

Financial Context

The $440 million valuation of the deal reflects Triple Flag's strategic approach towards resource allocation in a highly competitive mining sector. This investment is expected to enhance the company's revenue profile by leveraging its financial strength to secure long-term production agreements with established mines.

Advisors

Triple Flag International Ltd. was advised on this deal by CIBC Capital Markets, BMO Capital Markets, Citi, and Credit Suisse for financial advice and by Torys LLP, Allens, Kirkland & Ellis, Freshfields Bruckhaus Deringer (Australia) for legal counsel. Ravenswood Gold Pty Ltd. worked with BofA Securities, Canaccord Genuity, and Herbert Smith Freehills.

Outlook

The deal marks a significant milestone in Triple Flag’s strategy to diversify its precious metals portfolio through strategic partnerships and investments in low-cost operations with substantial longevity. As the mining sector continues to navigate market volatility, such arrangements provide stability and growth opportunities for both parties involved.