Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Gold Royalty Corp. (NYSE: GROY) has agreed to sell mineral rights and interests on 12 prospective properties in Canada’s Quebec and Ontario provinces to junior miner Val-d’Or Mining (TSX-VZZ).
The Vancouver-based gold royalty firm said the pact allows it to retain a 0.5%-1% net smelter return royalty on the properties.
Streaming and royalty firms provide upfront financing for exploration and development to precious metals producers in exchange for a percentage of production or revenues from any future output.
Gold Royalty will also assign to Val-d’Or all rights and interests under an option agreement with Eldorado Gold (TSX: ELD) (NYSE: EGO).
The move allows the company to keep the rights to a 1.5% net smelter return royalty on all properties covered by the deal with Eldorado, including the Claw Lake, Cook Lake and Murdoch Creek properties in Ontario and the Perestroika Prospect in Quebec.
Gold Royalty is also maintaining the right of first refusal on any royalty or similar interest sold by Val-d’Or.
The company also entered into a similar agreement to reserve the right of first refusal on any royalty or interest sold by International Prospect Ventures in Australia.
Gold Royalty’s portfolio includes royalties on North America’s three largest gold mines: Canadian Malartic’s Odyssey, Iamgold’s Côté Gold, and Nevada Gold Mines’ REN project.
Comments
Steven G. Thiele
What mines in Nevada does Gold Royalty own?