View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
September 22, 2016

Deals this week: Royal Gold, Hinterland Metals, PloyMet Mining, Peel Mining

Royal Gold has reached a $70m agreement to acquire a 3.75% net value royalty (NVR) from a major area of Barrick Gold Corporation's Cortez-Pipeline mining complex.

Royal Gold has reached a $70m agreement to acquire a 3.75% net value royalty (NVR) from a major area of Barrick Gold Corporation's Cortez-Pipeline mining complex.

As a result, Royal Gold’s interests at Cortez Crossroads will increase to 4.37% NVR, including a 5% sliding scale gross smelter return (GSR) royalty. In addition, its interest on production from Pipeline, South Pipeline and portions of the Gap deposits include a 4.76% NVR and a 5% GSR royalty.

Hinterland Metals has completed the acquisition of the Nakami gold project, the Sakami gold project, the Dunite property and the Auclair property. All areas are located in the James Bay area region of Quebec, Canada.

The properties host 103, 40, and nine claims respectively, covering a combined area of approximately 13,074ha.

"Proceeds from the offering will be used primarily to fund development of the NorthMet project."

PloyMet Mining has announced its intention to offer 13.33 million units priced at $0.75 each to raise $10m.

Paradigm Capital is acting as underwriter for the offering, which is expected to close on 18 October.

Proceeds from the offering will be used primarily to fund development of the NorthMet project, and for general working capital purposes.

Peel Mining has announced the private placement of 18.7 million new shares, priced at A$0.16 ($0.11) each to raise A$3m ($2.24m).

Proceeds are intended to meet development costs for the Mallee Bull copper-polymetallic deposit and the Cobar Superbasin assets (including the new Wagga Tank project).

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology