EURO Ressources S A is a French company focused on precious-metal royalties.
The Company’s principal asset is a 10% royalty interest on production from the Rosebel gold mine in Suriname. Rosebel is operated by IAMGOLD and has an estimated resource of +10MM oz of gold. The Company’s interest is on the first 7,000,000 ounces of attributable production and payments are primarily based on production and the quarterly average gold price over $300. Rosebel commenced production in 2004 and is currently forecast to produce approx. 300,000 ounces of gold per annum.
The Company also owns the Paul Isnard historic gold producing property in French Guiana. EURO has recently entered into a transaction for the development of Paul Isnard by Golden Star, who will acquire ownership in exchange for a 10% royalty interest payable to EURO. This royalty interest will be payable in a similar manner to the Rosebel royalty but on the average gold price over $400/ounce. EURO also has certain additional royalty interests in French Guiana.