Triple Flag Precious Metals Corp (TFPM)

Triple Flag Precious Metals Corp: A Detailed Overview

Company Profile:

Detailed History and Background:

Triple Flag Precious Metals Corp. (REDE) began trading on the TSX Venture Exchange and began its life as a junior explorer in February 2018 and transitioned to its current role as an investment and royalty company focused on the North American metals and mining sector after acquiring a majority position in Max Resource Corp on January 2020 as part of a $13.1M capital raise with the sale of 131M shares for $0.10 each. It changed its name to Maverix Metals Inc. from June 4, 2019 until August 4, 2021, to reflect this change in strategy.

Current Business Areas:

Triple Flag Precious Metals Corp currently operates via two segments:

• Royalties, streams, options, or offtake agreements: In this segment, its primary source of funding is through the sale of streams, and royalty interests in its mining exploration and development projects to larger mining companies such as Agnico and McEwen Mining. As of March 5th,2023 Triple Flags investments consists of:
• A 2% NSR royalty: on the Borden Gold Project in Ontario subject to a buyback option for $15 million. (This royalty was acquired for $3 million in July 2021) This royalty could be highly valuable as an initial resource estimate in February 2023 indicated over 4 million ounces of gold.
• 3.5% net smelter royalty (NSR): covering the Gold Centre property in Western Nevada. (This option was acquired for US$750,000 and US$800,000 in expenditures in August 2021)
• 5% NSR for the Gold Point portion of 16 to 1 claim block and 2% NSR over the remainder: in Nevada. (This Royalty was acquired for the payment of $160,000 and the issuance of 1,066,667 common shares in March 2022)
• Net Smelter Return (NSR) royalty: On the West Muscocho project for the first 800,000 ounces to be sold. It then reduces to a 2% NSR, subject to a buyback option for $8 million. It also has a sliding scale NSRs on other gold projects for the first 700,000 ounces produced. It also has other royalty holdings in several other projects.
• Other investment in other various projects.

Equities/Shares: As of December 2022, Triple Flag Precious Metals Corp held investments in approximately 20 gold projects with approximately 86,333,338 shares outstanding. These investments consist of equity stakes, physical precious metals, and royalties and streams for mineral properties across North America

Leadership Team:

Robert (Bob) Meister (Executive Chairman of the Board): Bob Meister brings over 36 years of capital markets knowledge and over 7 years of experience managing and leading public resource companies through various market cycles including the recent consolidation in the mineral exploration and project development sector. Mr. Meister has taken several companies public and has guided them toward successful mergers and sales. He is passionate about the mining sector and seeks out quality opportunities to generate returns in gold and mineral exploration.

Shaun Heinrichs (President & CEO ): Shaun Heinrichs has over 7 years of capital markets knowledge and over 7 years of experience in operations and leadership within several public resource sectors. Mr. Heinrichs has a keen understanding of the public capital markets in Canada having participated in multiple equity and debt offerings with the TSX-V, TSX (Venture Exchange and Main Exchange) for various companies. Shaun spent 8 years in operations and has a passion for finding and advancing natural resource projects. This passion drove him from the field of engineering into the financial markets.

This team, along with the Advisory Board which includes individuals with over 30years of experience in geology/geophysics, is positioned to continue to grow Triple Flag in the precious metals market.

Top Products and Market Share:

Top Products (Investments):

• Borden Gold Royalty
• Gold Centre Royalty and option to acquire
• Net Smelter royalties on the Muscocho Project Market Share:

Due to Triple Flag holding a diversified portfolio that includes equity stakes, gold and royalties and streams across multiple projects it is impossible to calculate a meaningful market share.

Comparisons:

Triple Flag distinguishes itself from its peers by specializing in the acquisition of high-value royalties and interests in advanced stage projects across a diversified portfolio which allows them to provide investors with exposure to various jurisdictions and commodities. Their focus on undervalued projects that have the proven potential in the hands of qualified operators sets them a step above its competitors who tend to focus on early stage exploration projects which are much more speculative.