MGDPF - Franco-Nevada adds to net smelter royalty from Marathon's Valentine project
2023-06-08 07:19:25 ET
Marathon Gold ( OTCQX:MGDPF ) said Thursday it agrees to sell an additional 1.5% net smelter returns royalty on its Valentine gold project in Newfoundland and Labrador to Franco-Nevada ( NYSE: FNV ) for US$45M, resulting in Franco-Nevada holding an aggregate 3% NSR on the project.
Franco-Nevada ( FNV ) also has offered to purchase Marathon ( OTCQX:MGDPF ) common shares comprising the entire back-end of a C$6.9M non-brokered charity flow-through offering.
A feasibility study on the Valentine project in December outlined an open pit mining and conventional milling operation producing 195K oz/year of gold for 12 years within a 14.3-year mine life; construction began in October.
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- Stock price return: Down 29.5% YTD, down 59% in the past 12 months
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Franco-Nevada adds to net smelter royalty from Marathon's Valentine project