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Gold Royalty Closes Acquisition of Nevada Gold Mines Royalty Portfolio
Thursday 29 September 2022

Canada-based gold-focused royalty company Gold Royalty Corp (NYSE American: GROY) has closed acquisition from Nevada Gold Mines LLC, a joint venture between Canada-based Barrick Gold Corp. (NYSE: GOLD) and US-based Newmont Corp (NYSE: NEM), of a royalty portfolio, the company said.

The portfolio includes a 10% net profits interest royalty on the producing Granite Creek Mine operated by i-80 Gold Corp., payable after 120,000 oz of gold or equivalent is cumulatively produced from the project.

It also includes a 2.00% net smelter return royalty on the Bald Mountain Mine operated by Kinross Gold Corp., payable after 10 m ounces of gold have been produced from the properties; and

Finally, the portfolio includes a 1.25% NSR on the Bald Mountain joint venture Zone also operated by Kinross.

Under the deal, the company indirectly acquired the royalty portfolio in consideration for USD 27.5m, which was satisfied through the issuance of 9,393,681 common shares to NGM at a deemed price of approximately USD 2.93 per share.

Gold Royalty is a gold-focused royalty company offering financing solutions to the metals and mining industry.

Its mission is to acquire royalties, streams and similar interests at varying stages of the mine life cycle to build a balanced portfolio offering near, medium and longer-term attractive returns for its investors.

Gold Royalty's diversified portfolio currently consists primarily of royalties on gold properties located in the Americas.
Date Published: 29/09/2022