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Franco-Nevada ( (TSE:FNV) ) has shared an update.
Franco-Nevada announced a financing package with Discovery Silver Corporation to aid in the acquisition of the Porcupine Complex from Newmont Corporation. This transaction includes a net smelter return royalty, a senior secured term loan, and equity participation, which will help Discovery Silver acquire and enhance the Porcupine Complex’s production capabilities. The Porcupine Complex, with a rich history of gold production and extensive infrastructure, presents a significant opportunity for both companies. The collaboration is expected to revitalize the mining operations, offering substantial exploration potential and value creation for stakeholders, as well as reinforcing Franco-Nevada’s leading position in royalty coverage of major gold mines in Ontario.
More about Franco-Nevada
Franco-Nevada Corporation is a company operating in the financial sector primarily focused on the acquisition and management of royalties and streams in the gold mining industry. It is known for its diverse portfolio of cash-flowing assets and strong positioning within the gold sector.
YTD Price Performance: 7.34%
Average Trading Volume: 658,754
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $24.98B
See more insights into FNV stock on TipRanks’ Stock Analysis page.
