Triple Flag Precious Metals Corp. (NYSE: TFPM) advanced on June 12 after Canaccord Genuity upgraded the precious metals streaming company to “Buy” from “Hold,” while the company announced a major acquisition and resolved a long-running dispute with Steppe Gold.
Shares of Triple Flag closed at $29.16 on June 12, gaining 4.14% during the trading session.
The company announced that its wholly owned subsidiary, Triple Flag International Ltd., has agreed to acquire a gold stream on the producing Ravenswood Gold Mine in Queensland, Australia, for upfront consideration of $440 million.
The Ravenswood mine is one of Australia’s established gold-producing operations, and the transaction is expected to strengthen Triple Flag’s portfolio of precious metals streams and royalties by adding exposure to a long-life producing asset.
In a separate development, Triple Flag and Steppe Gold Ltd. reached a comprehensive settlement agreement that resolves all outstanding litigation, arbitration proceedings, and disputes related to their existing streaming and gold prepayment arrangements.
The settlement follows an earlier announcement that Steppe Gold had delivered all overdue gold and silver stream obligations, as well as all outstanding gold prepay ounces owed to Triple Flag.
As part of the revised agreement, the existing Steppe Gold Stream Agreement has been amended to establish fixed cumulative gold deliveries totaling 34,770 ounces over ten years beginning in the third quarter of 2026 and extending through the fourth quarter of 2036.
Following completion of those deliveries, Triple Flag will be entitled to receive gold deliveries equivalent to 1.5% of the previous quarter’s gold production from Steppe Gold’s ATO mine, subject to a quarterly cap of 500 ounces.
The settlement removes a significant source of uncertainty for both companies while creating a revised long-term streaming framework designed to provide greater visibility on future deliveries.
The combination of the Ravenswood acquisition and the Steppe Gold settlement marks an active week for Triple Flag as the company continues to expand its portfolio and strengthen its position in the precious metals streaming sector.
Investor sentiment also received a boost from Canaccord Genuity’s upgrade, reflecting growing confidence in Triple Flag’s growth prospects and asset base following the latest strategic developments.
