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Nevada Gold Mines Agrees to Sell Royalty Portfolio to Gold Royalty Corp. for Total Consideration of $27.5 Million
Nevada Gold Mines announced that it has entered into a definitive agreement to sell a portfolio of royalties to Gold Royalty Corp. for $27.5 million.
The Portfolio consists of three royalties on the production of minerals from the Granite Creek and Bald Mountain projects located in the State of Nevada. The total consideration of $27.5 million will be satisfied through the issuance by Gold Royalty of 9,393,681 common shares. Upon closing, NGM is expected to hold approximately 7.0% of the issued and outstanding shares of Gold Royalty on a pro forma basis.
About Nevada Gold Mines
Nevada Gold Mines is operated by Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) and is a joint venture between Barrick (61.5%) and Newmont (38.5%) that combined their significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world.
Posted September 3, 2022
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