Toronto, Canada – June 12, 2026 – Triple Flag Precious Metals Corporation a leading streaming and royalty company, has announced a significant strategic acquisition through its subsidiary, Triple Flag International. The company has entered into an agreement to acquire a gold stream on the producing Ravenswood gold mine in Queensland, Australia, for a cash consideration of US$440 million . This move is set to bolster Triple Flag’s portfolio, enhance its immediate cash flow, and significantly increase its long-term production outlook.
A Strategic Addition to a Growing Portfolio
Sheldon Vanderkooy, CEO of Triple Flag, emphasized the strategic importance of the Ravenswood stream, stating, “The Ravenswood stream adds immediate cashflow from a large-scale, long-life operation located in a top-tier mining jurisdiction that is also underpinned by two years of target gold deliveries” . This acquisition is a cornerstone addition to Triple Flag’s already substantial Australian presence, which includes other key assets such as Northparkes, Beta Hunt, and Fosterville .
The transaction is expected to close before the end of June 2026 and will be funded from Triple Flag’s available cash and loan facilities, including $144 million cash on hand as of March 31, 2026 . Following the announcement, Triple Flag Precious Metals’ shares saw a positive reaction, rising 4.5% .
The Ravenswood gold mine is a historically significant operation, boasting over 150 years of mining history with gold first discovered in the late 1860s . It stands as one of Australia’s ten largest gold mines by ore reserves, with a historical production exceeding four million ounces of gold .
Since its acquisition from Resolute Mining in 2020, the mine has seen substantial investment from its current joint owners, private equity fund EMR Capital and resources company Golden Energy and Resources (GEAR), part of the Indonesian conglomerate Sinar Mas Group. Over A$830 million has been invested in the mine, funding critical upgrades to the processing plant, mining fleet, tailings capacity, and pit development . These investments are geared towards boosting annual gold production to over 200,000 ounces at steady state by 2028 . In 2025, Ravenswood produced 134,000 ounces of gold .
Under the terms of the gold stream agreement, Triple Flag has the right to purchase 5.5% of payable gold from the Ravenswood mine. This rate is structured to step down over time:
| Delivery Threshold (oz) | Stream Rate (%) | Payment (% of Spot Gold Price) |
| Up to 194,200 | 5.50% | 10% |
| 194,201 to 253,000 | 3.75% | 20% |
| Beyond 253,000 | 2.50% | 20% |
First gold deliveries under the stream are anticipated to commence in the third quarter of 2026 and continue through the second quarter of 2028. During this period, Triple Flag targets cumulative quarterly gold deliveries of 22,928 ounces, with quarterly deliveries ranging from approximately 2,300 to 3,300 ounces, subject to an 8% cap of actual production each quarter .
Enhanced Outlook and Exploration Upside
The addition of the Ravenswood stream has led Triple Flag to revise its 2030 production outlook upwards. The company now expects to achieve 150,000 to 160,000 gold-equivalent ounces (GEOs), an increase from its previous guidance of 140,000 to 150,000 GEOs .
Beyond the existing operations, the stream agreement also encompasses all exploration licenses within the Ravenswood project, covering a vast land package of over 1,800 km². Triple Flag highlights significant in-pit and near-mine exploration potential at deposits like Buck Reef West and Sarsfield-Nolans, with promising targets including Nolans Fault, A4, Keel, and Buck Reef Fault . This exploration upside presents a substantial opportunity to further extend the mine life at Ravenswood.
The mine currently holds 147 million tonnes of reserves grading 0.61 grams per tonne (g/t) gold, equating to 2.8 million ounces of gold. This is part of a larger measured and indicated resource base of 205 million tonnes at 0.55 g/t, containing 3.6 million ounces of gold .
Triple Flag’s acquisition of the Ravenswood gold stream marks a pivotal moment for the company, solidifying its position in a key mining jurisdiction and enhancing its financial and operational outlook. The combination of immediate cash flow, a long-life asset with significant production potential, and substantial exploration upside positions Triple Flag for continued growth and value creation in the precious metals sector.
