Franco-Nevada Corporation announced that its wholly-owned subsidiary has acquired an existing 1.0% net smelter return royalty on AngloGold Ashanti plc's Arthur Gold Project for $250 million in cash. An additional contingent cash payment of $25 million is payable upon the achievement of certain conditions related to an ongoing arbitration process.
The Arthur Gold Project, previously known as the Expanded Silicon Project, is recognized as one of the largest and fastest-growing new gold discoveries in the United States. AngloGold has rapidly expanded the resource base since its initial discovery in 2018.
The project's Mineral Resource base currently stands at 3.4 million ounces of Indicated Mineral Resources and 12.9 million ounces of Inferred Mineral Resources, representing a 20% year-over-year increase. This acquisition further strengthens Franco-Nevada's portfolio of Nevada royalties and offers long-term growth potential.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.