By Adriano Marchese
Triple Flag Precious Metals secured a settlement with Steppe Gold that clears all overdue metal deliveries and guarantees fixed gold shipments for the next ten years, prompting a lift to its 2026 production outlook.
The streaming and royalty company said Thursday that Steppe delivered all outstanding gold and silver owned under its stream and prepay agreements, including 1,650 ounces of gold tied to a prepay facility, 500 ounces as an amendment fee, and a further 1,946 ounces of gold and 15,618 ounces of silver. The total represents all arrears under the Steppe Gold stream agreement.
Under the amended deal, Steppe will provide 34,770 ounces of fixed gold deliveries over a ten-year period, beginning in the third quarter of 2026. Triple Flag said that no continuing payments are associated with these deliveries.
After 2036, when the ten-year period ends, the stream will convert to a long-term royalty structure, giving Triple Flag a 1.5% cut of the ATO mine's quarterly gold production with a 500 ounce cap per quarter.
The settlement prompted Triple Flag to increase its 2026 output guidance to 100,000 to 110,000 gold-equivalent ounces, up from a previous range of 95,000 to 105,000 ounces.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 11, 2026 09:34 ET (13:34 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.