Company is moving its Huaron and Morococha operations into care and maintenance in response to several workers at the mines recently testing positive for covid-19.

Physical bullion remained out of favour this week among consumers in top hubs China and India in the grip of the coronavirus

Silver has skyrocketed since mid-March’s covid-19 lockdown stock panic.

The deal gives Triple Flag rights to the majority of the gold and silver that will be produced at the mine in New South Wales.

RBC Capital Markets has raised its silver price forecasts by 16% in 2020, 17% in 2021 and 14% in 2022.

The Edmonton-based miner signed a deal with Intermont Resources that may make it the holder of up to 23 gold-silver projects in the Silver State.

The Vancouver-based company is expecting a $1 billion deal in the next few months.