Newmont Mining (NEM-N, NMC-T) has filed a preliminary prospectus to allow it to re-float Franco-Nevada Mining as a royalty company.
The prospectus would permit a public offering of Franco-Nevada shares on a Canadian exchange, with the proceeds of the offering going to buy Newmont’s royalty portfolio, which it decided to turn into cash in July.
The company was careful to say that the prospectus filing was an option for it, and not the only way it planned to monetize the royalty portfolio. Previously Newmont had mentioned both a public offering and a private sale as options for its plan.
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