ROYALTIES: Maverix expands portfolio with acquisition from Newmont

VANCOUVER – Maverix Metals is tripling its royalty portfolio with the acquisition of 54 additional royalties from Newmont Mining Corp. Maverix will […]
Maverix is an emerging precious metals royalty company. (Image: Maverix Metals)
[caption id="attachment_1003723409" align="aligncenter" width="543"] Maverix is an emerging precious metals royalty company. (Image: Maverix Metals)[/caption] 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.

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