Latest news with #Franco-Nevada
Business Insider
5 days ago
- Business
- Business Insider
Franco-Nevada acquires 1.0% NSR on AngloGold's Arthur Gold Project, Nevada
Franco-Nevada's (FNV) wholly-owned subsidiary has acquired an existing 1.0% net smelter return royalty, or NSR, on AngloGold's (AU) Arthur Gold Project from Altius Minerals Corporation (ATUSF) for $250M in cash, plus a contingent cash payment of $25M payable subject to the achievement of certain conditions. The ongoing drill program expanded the resource by 20% year over year, taking the most recently stated gold Mineral Resource base to 3.4 million ounces of Indicated Mineral Resources and 12.9 million ounces of Inferred Mineral Resources. The Arthur Gold Project has Mineral Resource base across the Merlin and Silicon deposits for a total of 3.4 Moz of gold Indicated Mineral Resources and 12.9 Moz of gold Inferred Mineral Resources. AngloGold has completed 430 km of drilling as of year-end 2024, inclusive of 132 km of drilling completed in 2024. AngloGold is currently focused on advancing a PFS for the project with expected completion by the end of 2025 or early 2026. Funding of the transaction was completed with cash on hand, and a $175M draw from the company's $1B corporate credit facility. Altius holds the remaining 0.5% NSR royalty, with respect to which Franco-Nevada has been granted certain pre-emptive rights on a sale by Altius. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Business Wire
5 days ago
- Business
- Business Wire
Altius Completes Sale of 2/3 of its Silicon Gold 1.5% NSR to Franco-Nevada
ST. JOHN'S, Newfoundland and Labrador--(BUSINESS WIRE)-- Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) Altius Minerals Corporation ('Altius') is pleased to announce that Altius Royalty Corporation ('ARC'), a wholly-owned subsidiary of Altius, has completed the sale of a 1% NSR royalty covering the Silicon and Merlin gold deposit discoveries in Nevada ('1% NSR Silicon Royalty') to a wholly owned subsidiary of Franco-Nevada Corporation ('Franco-Nevada') (TSX & NYSE: FNV) ('The Transaction'), pursuant to a royalty purchase agreement entered into by ARC and Franco-Nevada (the 'Agreement'). ARC will continue to hold a remaining 0.5% NSR royalty interest in Silicon (recently renamed to the Arthur Gold Project by AngloGold Ashanti plc ('AGA') as a long-term component of its diversified portfolio. The purchase price for the 1% NSR Silicon Royalty interest is US$ 275 million (~ C$ 375 million) comprised of US$ 250 million in upfront cash paid at closing and a further payment of US $25 million in cash payable upon the conclusion of an ongoing arbitration process that confirms the area subject to the royalty under final award to be consistent with Altius's interpretation of the partial award of the arbitration tribunal that was issued and reported on earlier this year. The Board of Directors of Altius has received a fairness opinion from Cormark Securities Inc. which opinion concluded that, based upon and subject to the assumptions made, procedures followed, matters considered, limitations and qualifications set out therein, the consideration to be received by ARC pursuant to the Transaction is fair, from a financial point of view, to ARC. Brian Dalton, CEO of Altius commented, 'We are pleased to partner with Franco-Nevada on this royalty, which encompasses AGA's world-class Silicon and Merlin gold deposit discoveries in Nevada, as well as extensive areas of prospective surrounding land. The Transaction crystallizes significant value for shareholders while further demonstrating the ability of Altius's Project Generation business to amplify the return profile of its overall royalty investment portfolio. The decision to retain a third of our Silicon royalty interest also provides continuing growth exposure to this emerging gold district, while confirming the addition of precious metals as a long-term, well-balanced component of our shareholder's diversified royalty portfolio. We now look forward to the ability to explore a wider set of capital allocation and deployment opportunities, facilitated by a considerably strengthened balance sheet and liquidity profile, and to further growing shareholder value.' Anticipated Benefits to Altius Shareholders Capital Allocation Opportunities Cash, after taxes and fees, expected to increase to more than C$ 360 million (assumes up front and further payment proceeds from this Transaction and also from the recent acquisition of Orogen Royalties Inc. by Triple Flag Precious Metals Corp.) Total liquidity increased to more than C$ 540 million (including C$ 116 million available under a revolving credit facility and C$ 62.5 million potentially available under an accordion feature) Creates enhanced flexibility to evaluate external M&A opportunities while limiting equity level dilution of existing assets and the embedded growth potential of our portfolio Improves ability to opportunistically increase per share exposure to existing royalty interests through share repurchases Retained Royalty Exposure Continuing optionality exposure to gold resource growth 1 from current ~16 Moz resource estimate at the Arthur Gold Project, as AGA continues aggressive exploration and delineation drilling programs and the reporting of encouraging results Achieves rebalance of commodity exposures while confirming precious metals and another tier-1 quality royalty as components of Altius's long-term, diversified portfolio. For further information, please see the updated Altius corporate presentation posted to the website at 1 See Expanded Silicon Project Update presentation Financial and Legal Advisors Cormark Securities Inc. is acting as financial advisor to Altius. Stikeman Elliott LLP is acting as legal counsel to Altius and ARC. About Altius Altius's strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification through precious metals ownership. These macro-trends each hold the potential to cause higher demand for many of Altius's commodity exposures including potash, high purity iron ore, renewable energy, base metals, and gold . In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated track record of driving outsized direct returns from its overall royalty investment portfolio. Altius has 46,315,304 common shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices and the S&P/TSX Canadian Dividend Aristocrats Index. Forward Looking Information This news release contains forward-looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. The information in this news release about the any anticipated benefits of the transaction to Altius Shareholders, timing and results of the ongoing arbitration process in respect of the Silicon royalty and possibility of ARC being paid contingent consideration of US$25 million following conclusion thereof, and any other information herein that is not a historical fact may be forward looking information. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulations.
Cision Canada
5 days ago
- Business
- Cision Canada
Franco-Nevada Announces Acquisition of 1.0% NSR on AngloGold's Arthur Gold Project in Nevada
(in U.S. dollars unless otherwise noted) TORONTO, July 23, 2025 /CNW/ - Franco-Nevada Corporation ("Franco-Nevada" or the "Company") (TSX: FNV) & (NYSE: FNV) is pleased to announce that its wholly-owned subsidiary has acquired an existing 1.0% net smelter return royalty (the "Royalty") on AngloGold Ashanti plc's ("AngloGold") Arthur Gold Project (previously the Expanded Silicon Project) from Altius Minerals Corporation ("Altius") for $250 million in cash, plus a contingent cash payment of $25 million payable subject to the achievement of certain conditions as described below. The Arthur Gold Project is one of the largest and fastest growing new gold discoveries in the United States. The ongoing drill program expanded the resource by 20% year over year, taking the most recently stated gold Mineral Resource base to 3.4 million ounces of Indicated Mineral Resources and 12.9 million ounces of Inferred Mineral Resources. "We are pleased to acquire this existing Royalty on the Arthur Gold Project, which is one of the most exciting new gold discoveries in Nevada," said Paul Brink, President & CEO of Franco-Nevada. "AngloGold, a tier-1 operator, has been rapidly growing the resource base at Arthur since its initial discovery in 2018. This acquisition will further add to our portfolio of Nevada royalties, and we look forward to the long-term growth potential of the asset and the overall district as AngloGold continues to advance the project." Transaction Highlights Royalty on a Tier-1 gold asset in Nevada: The Royalty applies to a substantial land package in the Beatty District of Nevada covering the vast majority of the existing Mineral Resource of the Arthur Gold Project (including both Merlin and Silicon deposits) within a base area of interest with no step-downs or buydown provisions, providing the potential for decades of stable gold cash flow once in production. The ongoing arbitration will determine the extent of the expanded royalty footprint, which is expected to expand by several multiples upon the area encompassed by the base area of interest to include substantially all of the existing Mineral Resource of the Arthur Gold Project and providing further exposure to the large and highly prospective land package 1. Extensive Mineral Endowment with Exploration Potential: The Arthur Gold Project has a large and rapidly growing Mineral Resource base across the Merlin and Silicon deposits for a total of 3.4 Moz of gold Indicated Mineral Resources (122 Mt at 0.87 g/t Au) and 12.9 Moz of gold Inferred Mineral Resources (391 Mt at 1.03 g/t Au). The project is one of Nevada's most exciting new discoveries with Mineral Resources having grown rapidly since first discovery in 2018 and the maiden Resource estimate in 2021. AngloGold has completed 430 km of drilling as of year-end 2024, inclusive of 132 km of drilling completed in 2024 with two reverse circulation and seven diamond core rigs. Project Advancing Under Strong Operator: AngloGold is currently focused on advancing a PFS for the project with expected completion by the end of 2025 or early 2026. The Arthur Gold Project is envisioned as a large oxide project with both heap leach and milling operations. The project is a Tier-1 opportunity for AngloGold. In addition to completing a PFS, key priorities for AngloGold in 2025 include advancing further infill drilling, a potential upgrade in resources to reserves, and executing strategic land and water rights acquisitions. Key Transaction Terms Franco-Nevada has acquired the 1.0% NSR royalty from Altius for $250 million, with a further $25 million in cash payable dependent upon the final award outcome of an ongoing arbitration process between Altius and AngloGold that confirms that the full extent of the royalty beyond the base area of interest is substantially consistent with that of Altius' interpretation of a partial award of the arbitration tribunal that it reported on earlier this year. The transaction was structured as an asset sale and Franco-Nevada will deplete the full purchase price on a units of production basis for tax depletion purposes. Funding of the transaction was completed with cash on hand, and a $175 million draw from the Company's $1 billion corporate credit facility. Altius holds the remaining 0.5% NSR royalty, with respect to which Franco-Nevada has been granted certain pre-emptive rights on a sale by Altius. Advisors BMO Capital Markets and TD Securities acted as financial advisors to Franco-Nevada. Franco-Nevada Corporate Summary Franco-Nevada Corporation is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets. Its business model provides investors with gold price and exploration optionality while limiting exposure to cost inflation. Franco-Nevada uses its free cash flow to expand its portfolio and pay dividends. It trades under the symbol FNV on both the Toronto and New York stock exchanges. Franco-Nevada is the gold investment that works. Additional Information Scientific and technical information included in this news release has been reviewed by Darrol van Deventer, Vice President, Mining of Franco-Nevada, a non-independent qualified person under National Instrument 43-101. Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to future events or future performance, including the outcome of the ongoing arbitration relating to the Royalty coverage and the expected future performance of the Arthur Gold Project and the Royalty. In addition, statements relating to mineral resources and mineral reserves, gold equivalent ounces ("GEOs") or mine lives are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such mineral resources and mineral reserves, GEOs or mine lives will be realized. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "potential for", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Franco-Nevada to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty and stream revenue (gold, platinum group metals, copper, nickel, uranium, silver, iron ore and oil and gas); fluctuations in the value of the Canadian and Australian dollar, Mexican peso, and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; proposed tariff and other trade measures that may be imposed by the United States and proposed retaliatory measures that may be adopted by its trading partners; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which Franco-Nevada holds a royalty, stream or other interest are located or through which they are held; risks related to the operators of the properties in which Franco-Nevada holds a royalty, stream or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by Franco-Nevada; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; whether or not the Company is determined to have "passive foreign investment company" ("PFIC") status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; potential changes in Canadian tax treatment of offshore streams; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; access to sufficient pipeline capacity; actual mineral content may differ from the mineral resources and mineral reserves contained in technical reports; rate and timing of production differences from mineral resource estimates, other technical reports and mine plans; risks and hazards associated with the business of development and mining on any of the properties in which Franco-Nevada holds a royalty, stream or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; the impact of future pandemics; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which Franco-Nevada holds a royalty, stream or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; the expected assessment and outcome of any audit by any taxation authority; no adverse development in respect of any significant property in which Franco-Nevada holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. In addition, there can be no assurance as to (i) the outcome of the ongoing audit by the CRA or the Company's exposure as a result thereof, or (ii) the future status and any potential restart of the Cobre Panama mine or the outcome of any related arbitration proceedings. Franco-Nevada cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to Franco-Nevada's most recent Annual Information Form as well as Franco-Nevada's most recent Management's Discussion and Analysis filed with the Canadian securities regulatory authorities on and Franco-Nevada's most recent Annual Report filed on Form 40-F filed with the SEC on The forward-looking statements herein are made as of the date of this press release only and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. SOURCE Franco-Nevada Corporation
Business Insider
19-06-2025
- Business
- Business Insider
Franco-Nevada provides update on arbitration proceeding in Panama
Franco-Nevada (FNV) provided an update regarding its arbitration proceeding related to the Cobre Panama mine. Following engagement with the Government of Panama's legal counsel, Franco-Nevada has agreed today to suspend its arbitration proceeding. Franco-Nevada had previously filed a request for arbitration under the Canada-Panama Free Trade Agreement to the International Centre for Settlement of Investment Disputes on June 27, 2024. Confident Investing Starts Here:
Cision Canada
18-06-2025
- Business
- Cision Canada
Franco-Nevada Update on Arbitration Proceeding in Panama
TORONTO, June 18, 2025 /CNW/ - Franco-Nevada Corporation (" Franco-Nevada") (TSX: FNV) (NYSE: FNV) provides an update regarding its arbitration proceeding related to the Cobre Panama mine. Following engagement with the Government of Panama's legal counsel, Franco-Nevada has agreed today to suspend its arbitration proceeding. Franco-Nevada had previously filed a request for arbitration under the Canada-Panama Free Trade Agreement to the International Centre for Settlement of Investment Disputes on June 27, 2024. Franco-Nevada reiterates its hope for a resolution with the State of Panama providing the best outcome for the Panamanian people and all parties involved. SOURCE Franco-Nevada Corporation
