777 Royalty (MB, Canada)

Flin Flon, Manitoba, Canada

Hudbay Minerals


  • 4% Net Smelter Returns (NSR) royalty on the original royalty lands

  • Tonnage royalty of 27.56 cents per metric tonne on all mine production on the same royalty lands

  • 3% NSR royalty on an Area of Interest subject to a partial buyback right. Hudbay can acquire 1/3 of the 3% NSR royalty for $2 million.

Asset Profile
2018 Royalty Revenue $11.3 million
Annual production capacity 1.4 - 1.5 mt
Estimated Mine Life 2 years

Copper, Zinc, Gold and Silver

As the result of being one of the original claim holders in the Flin Flon mining district, Manitoba, Canada, Callinan held royalties on a large area surrounding and including Hudbay's 777 mine to which now Altius owns with the recent acquisition of Callinan.

The 777 mine is located in the productive Flin Flon greenstone belt in the Canadian Shield, where Hudbay has been active for nearly 85 years. The 777 mine is an underground mining operation that commenced commercial production in 2004 and that has an estimated mine life until mid-2022, as a partial year of extension was announced by the operator in 2019 based on current reserves. The mine is a low-cost producer of copper, zinc, gold and silver with current throughput of approximately 1.5 million tonnes per year.

Roderick Smith, P.Geo., Chief Geologist, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.

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