Euro-Nevada to buy Doyon mine royalty

Under the terms of a proposed amalgamation, Odyno shareholders would receive $4.10 for their shares or an aggregate $6.2 million.

Odyno’s assets include a 1% royalty on the output of Cambior Inc. (TSE) and LAC Minerals’ (TSE) Doyon gold mine which produced over 200,000 oz gold last year. Odyno also has $2.6 million net in cash and investments and a portfolio of exploration properties in Quebec.

Scheduled to close later this summer, the agreement is still subject to regulatory and shareholder approval.

Euro-Nevada holds a number of royalty properties in Nevada and Ontario.

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