- Nevada Gold Mines, a joint venture between Barrick Gold (ABX) and Newmont has agreed to sell a portfolio of royalties to Gold Royalty Corp. for $27.5 million
- The portfolio includes three royalties from the Granite Creek and Bald Mountain projects in Nevada
- Gold Royalty will issue 9,393,681 common shares to Nevada Gold Mines
- Nevada Gold Mines is operated by Barrick Gold Corporation and is a joint venture between Barrick, which owns 61.5 per cent, and Newmont, which owns 38.5 per cent
- Barrick Gold Corporation opened the day’s trading at $19.15 per share
Nevada Gold Mines, a joint venture between Barrick Gold (TSX:ABX) and Newmont has agreed to sell a portfolio of royalties to Gold Royalty Corp for $27.5 million.
The portfolio includes three royalties from the Granite Creek and Bald Mountain projects located in Nevada.
Gold Royalty will issue 9,393,681 common shares to Nevada Gold Mines.
When the transaction is completed, Nevada Gold is expected to hold approximately 7.0 per cent of the issued and outstanding shares of Gold Royalty on a pro forma basis.
Nevada Gold Mines is operated by Barrick Gold Corporation and is a joint venture between Barrick, which owns 61.5 per cent, and Newmont, which owns 38.5 per cent.
Barrick and Newmont combined their significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world.
Barrick Gold Corp, which is one of the world’s largest gold producers, operates mines in North America, South America, Australia, and Africa.
Barrick Gold Corporation opened the day’s trading at $19.15 per share.
