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LunR Royalties Corp ( (TSE:LUNR) ) has shared an update.
LunR Royalties Corp. has agreed to acquire a life-of-mine silver stream on Lundin Gold’s Fruta del Norte mine in Ecuador in an all-share deal valued at about $670 million, issuing roughly 50.5 million shares based on recent trading prices. The transaction will initially cover 100% of the mine’s payable silver output with staged reductions after set delivery thresholds, and is expected to elevate LunR into one of the world’s larger precious metals royalty and streaming companies.
Following closing, Lundin Gold will distribute the LunR shares it receives as a dividend in kind to its own shareholders, bringing Newmont in as a new major shareholder in LunR with an expected stake above 10% and a board representative. The stream adds immediate cash flow and exposure to what is described as a low-cost, Tier 1 gold operation with strong reserve life, potential mill expansion and higher silver grades from recent exploration, positioning LunR for disciplined growth and a more precious-metals-weighted portfolio.
More about LunR Royalties Corp
LunR Royalties Corp. is a Vancouver-based precious metals royalty and streaming company listed on the TSX Venture Exchange, focused on acquiring long-life, low-cost streams and royalties on Tier 1 mining assets. The company aims to build a portfolio of cash-generating precious metals interests that enhance its scale and competitiveness in the global royalty and streaming sector.
Average Trading Volume: 132,696
For a thorough assessment of LUNR stock, go to TipRanks’ Stock Analysis page.