A 6% net profits interest (NPI) royalty covering the western extension of the Goldstrike mine in Nevada has been purchased by Franco-Nevada Mining (TSE). Franco-Nevada will issue 225,000 common shares to cover the purchase price of $6.6 million.
The Carlin area mine, operated by American Barrick Resources (TSE), hosts proven minable reserves of about three million ounces of gold. With this acquisition, Franco-Nevada’s NPI royalty now extends over the entire Goldstrike orebody. The transaction is subject to regulatory approval.
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