Franco-Nevada has completed a $500m bought deal financing, offering its 8,375,000 common shares at a price of $50.75 per share.
Under the deal, the company has provided a syndicate of underwriters with an over-allotment option to purchase an additional 1,256,250 common shares within 30 days of the closing of the offering.
The company plans to use the proceeds to fund royalty and stream acquisitions and other general corporate purposes.
Fortune Minerals has signed a deal with the owners of the Revenue Silver Mine (RSM) to purchase remaining stake in RSM.
The company, along with its wholly owned subsidiary, Fortune Revenue Silver Mines, has purchased an initial 12% stake in RSM in May this year and has been operating the mine since then.
Under the latest deal, Fortune Minerals can buy the remaining stake by paying $15.5m, with a condition to pay a further $10m after closing the transaction, which has been extended from 2 September to 1 October.
The company will also have to pay $4.5m to the mine’s previous owners.
Fortune has taken the help from Lascaux Resource Capital Fund I LP to generate $35m for purchasing the remaining stake in RSM.
Emeco has secured a five-year agreement with Chilean mining contractor Fe Grande to supply its equipment on hire and rent basis.
The deal is expected to help Emeco generate A$27m ($25.1m) and A$32m ($29.8m) a year.
The project will use A$64m ($59.6m) of Emeco’s fleet in Chile and represents more than 50% utilisation for the business unit.
For Chilean business, Emeco has so far deployed more than A$100m ($93.1m) of fleet and an average 80% utilisation.
EMED Mining has closed a deal with investors, XGC and Orion to raise £13.1m through subscription.
The deal was approved by the Toronto Stock Exchange and cleared all conditions.
As part of the deal, Orion has subscribed EMED’s 140,000,000 ordinary shares at an issue price of 0.25 pence, while XGC has subscribed 41,200,000 ordinary shares at the same price.
Image: Several deals were signed this week. Photo: courtesy of stockimages / FreeDigitalPhotos.net.