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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.