FNV:CC - Franco-Nevada in $352M financing package with G Mining Ventures

Franco-Nevada ( NYSE: FNV ) +11.5% pre-market on Monday after saying it acquired a gold stream from the Tocantinzinho project located in Brazil for $250M, and agreed to provide G Mining Ventures with a $75M secured term loan and subscribe for $27.5M of G Mining Ventures' common shares.

Franco-Nevada ( FNV ) expects first production from the Tocantinzinho mining operation in H2 2024, with contributions from the project to the company of ~24.5K gold equivalent oz/year on average over the first five years of full production.

The miner said it plans to finance the transactions from cash on hand, with $723M in cash and cash equivalents and $1.7B in available capital as of March 31.

Franco-Nevada ( FNV ) shares have been trading near YTD lows as gold prices decline .

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