MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — MSV sells royalty for $30 million

Montreal-based MSV Resources (MSV-T) has closed the sale of a royalty interest on future production at its Copper Rand 5000 and Corner Bay copper-gold projects in Quebec’s Chibougamau camp.

A private investor agreed to purchase the royalty interest for $30 million. The company has received the first payment of $1.2 million; a second payment, of $300,000, is expected at month’s end. This will be followed by two payments of $1.5 million on Jan. 15 and March 15 of next year. The $25-million balance is payable over the initial 10-year term of the royalty.

MSV intends to use the proceeds to develop its Chibougamau projects. The No. 4 shaft at Copper Rand is being rehabilitated and final financing for the Copper Rand 5000 project is progressing.