CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Elliott Investment Management on Thursday raised its stake in gold-focused streaming and royalty firm Triple Flag Precious Metals Corp to 67% from 64.7%.
The hedge fund acquired 4.7 million shares in Triple Flag at C$16.50 per share.
Triple Flag provides upfront financing to miners in exchange for a share of future revenue or production. It has vested interests in royalty, concerning Alamos Gold Inc’s Young-Davidson mine located in Ontario, and Kirkland Lake Gold Ltd’s Fosterville underground mine in Australia.
The mine financing company in 2021 had raised more than $250 million in an initial public offering, the biggest Toronto Stock Exchange mining debut since 2012.
Elliott previously had bought 129.1 million shares in the Canada-based company, according to an SEC filing.
(By Arshreet Singh; Editing by Shilpi Majumdar)
Comments