Reported 29 days ago
Franco-Nevada Corporation has enhanced its Nevada royalty portfolio by acquiring a 1.0% net smelter return royalty on the Arthur Gold Project from Altius Minerals for $250 million, with potential additional payments depending on arbitration outcomes. The royalty covers significant gold deposits and ensures no reductions or buyout options. The Arthur Gold Project has seen a 20% increase in gold resources over the past year, amounting to 3.4 million ounces indicated and 12.9 million ounces inferred. Franco-Nevada financed the deal through a combination of cash reserves and credit, presenting an opportunity for tax benefits.
Source: YAHOO