[caption id="attachment_1003723409" align="aligncenter" width="543"] Maverix is an emerging precious metals royalty company. (Image: Maverix Metals)
VANCOUVER – Maverix Metals
is tripling its royalty portfolio with the acquisition of 54 additional royalties from Newmont Mining Corp
. Maverix will issue 60 million common shares and 10 million share purchase warrants to Newmont. The deal will be topped up with US$17 million when the transaction closes. The warrants will be exercisable for five years at a price of US$164 per share.
The key assets that Maverix is acquiring include the following:
- A 1.0% net smelter return on the Hope Bay gold mine owned by TMAC Resources;
- A 2.5% gross revenue royalty on certain claims at the Hemlo gold mine, operated by Barrick Gold;
- A 1.5% NSR on the development stage McCoy-Cove gold project owned by Barrick and Premier Gold;
- A 5.0% NSR on the development stage Gemfield deposit at the Goldfield property owned by private equity firm Waterton;
- A 5.0% NSR on part of the development stage Converse gold project owned by Waterton;
- Quarterly royalty payments from the Amulsar gold mine owned by Lydian International.
Newmont is the third major mining company to become a Maverix shareholder. Pan American Silver and Gold Fields are also among the company’s investors.
Learn more about royalty investments made by Maverix at www.MaverixMetals.com.