STREAM AND ROYALTY INTERESTS, NET

9 Months Ended

Sep. 30, 2022

STREAM AND ROYALTY INTERESTS, NET

STREAM AND ROYALTY INTERESTS, NET

3.    STREAM AND ROYALTY INTERESTS, NET

The following tables summarize our stream and royalty interests, net as of September 30, 2022 and December 31, 2021.

As of September 30, 2022 (Amounts in thousands):	Cost		Accumulated Depletion		Net
Production stage stream interests:
Mount Milligan	$	790,635	$	(379,708)	$	410,927
Pueblo Viejo		610,404		(281,730)		328,674
Andacollo		388,182		(149,586)		238,596
Khoemacau		265,911		(11,621)		254,290
Rainy River		175,727		(58,328)		117,399
Wassa		146,475		(93,474)		53,001
Other		69,100		(11,200)		57,900
Total production stage stream interests		2,446,434		(985,647)		1,460,787
Production stage royalty interests:
Cortez		280,219		(28,352)		251,867
Voisey's Bay		205,724		(117,228)		88,496
Red Chris		116,187		(1,797)		114,390
Peñasquito		99,172		(56,529)		42,643
Other		447,246		(395,641)		51,605
Total production stage royalty interests		1,148,548		(599,547)		549,001
Total production stage stream and royalty interests		3,594,982		(1,585,194)		2,009,788
Development stage stream interests:
Other		12,038		—		12,038
Development stage royalty interests:
Côté		45,421		—		45,421
Other		73,233				73,233
Total development stage stream and royalty interests		130,692		—		130,692
Exploration stage stream interests:
NX Gold		34,253		—		34,253
Exploration stage royalty interests:
Cortez		325,654		—		325,654
Great Bear		206,965		—		206,965
Pascua-Lama		177,690		—		177,690
Red Chris		48,895		—		48,895
Côté		29,610		—		29,610
Other		120,833		—		120,833
Total exploration stage stream and royalty interests		943,900		—		943,900
Total stream and royalty interests, net	$	4,669,574	$	(1,585,194)	$	3,084,380

As of December 31, 2021 (Amounts in thousands):	Cost		Accumulated Depletion		Net
Production stage stream interests:
Mount Milligan	$	790,635	$	(336,921)	$	453,714
Pueblo Viejo		610,405		(260,321)		350,084
Andacollo		388,182		(139,035)		249,147
Khoemacau		239,411		(3,402)		236,009
Rainy River		175,727		(50,115)		125,612
Wassa		146,475		(84,915)		61,560
Other		69,101		(4,193)		64,908
Total production stage stream interests		2,419,936		(878,902)		1,541,034
Production stage royalty interests:
Voisey's Bay		205,724		(113,602)		92,122
Red Chris		116,187		—		116,187
Peñasquito		99,172		(53,022)		46,150
Cortez		80,681		(23,225)		57,456
Other		447,799		(387,364)		60,435
Total production stage royalty interests		949,563		(577,213)		372,350
Total production stage stream and royalty interests		3,369,499		(1,456,115)		1,913,384
Development stage stream interests:
Other		12,037		—		12,037
Development stage royalty interests:
Côté		45,421		—		45,421
Other		54,755		—		54,755
Total development stage stream and royalty interests		112,213		—		112,213
Exploration stage stream interests:
NX Gold		30,974		—		30,974
Exploration stage royalty interests:
Pascua-Lama		177,690		—		177,690
Red Chris		48,895		—		48,895
Côté		29,610		—		29,610
Other		130,986		—		130,986
Total exploration stage royalty interests		418,155		—		418,155
Total stream and royalty interests, net	$	3,899,867	$	(1,456,115)	$	2,443,752

Mount Milligan

On October 4, 2022, Centerra Gold, Inc. (“Centerra”) announced the highlights of an updated life of mine plan for Mount Milligan which provided, among other things, a four-year extension of the mine life to 2033 and increases to the proven and probable reserves. As a result of the increase in proven and probable reserves, the gold and copper depletion rates on our Mount Milligan stream decreased to $416 per ounce of gold and $1.06 per pound of copper as of September 30, 2022 from $703 per ounce of gold and $1.53 per pound of copper. Centerra reported that it expects to file a new technical report detailing the life of mine plan within 45 days of October 4, 2022.