In order to gain comfort with the asset and the price it paid, Royal obtained the right to examine Kinross’s non-public data on the deposit in exchange for Kinross obtaining the right to buy back one-quarter of the royalty. On an asset basis, Royal’s acquisition is accretive. However, Great Bear is potentially one of the largest undeveloped gold projects in Canada so is an attractive acquisition. Kinross famously acquired Great Bear at an early stage, without a resource estimate let alone a PEA or feasibility. It paid virtually CA$200 million in cash, representing a 43% premium to its 20-day average price. (GBRBF:OTCMKTS) and its 2% royalty on Kinross’s Great Bear project. (RGLD:NASDAQ RGL:TSX) also made a major acquisition by buying Great Bear Royalties Corp. One of the significant aspects of Franco’s investment is its “right of first refusal” on future G Mining projects. This financing represents over 75% of the total capex to build the mine, and the company now has more than sufficient funds available, with production expected in the second half of 2024. The financing includes a stream on 12.5% of the gold (to be reduced to 7.5% after the anticipated end-of-mine life) as well as a loan and equity. (FNV:TSX FNV:NYSE) has provided a $352 million financing package to the well-regarded G Mining on its Tocantinzinho Project in Brazil, its largest gold stream investment since 2018. Significant acquisitions in the royalty space.įranco-Nevada Corp.
Royal tsx sort full#
We will have more information once the companies release full results and hold their conference calls. For most of the major miners, production has been broadly in line with forecasts, with record revenues for some (although there have been some shipping delays), while costs have risen modestly next quarter could see higher costs. Preliminary second-quarter results from #gold companies are coming out.
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