- Barrick Gold Corporation (ABX) has closed the sale of a portfolio of 22 royalties to Maverix Metals Inc.
- Skeena Resources Limited, the operator of the Eskay Creek mine in British Columbia, has exercised its buy-down right to acquire 0.5 per cent of the 1.0 per cent net smelter returns royalty on the Eskay Creek mine
- As a result of that, Barrick received total consideration equal to $50 million in cash in respect of the portfolio
- Barrick Gold Corp. is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa
- Barrick Gold Corporation was up 0.245 per cent, trading at $20.42 at 1:44 PM ET
Barrick Gold Corporation (ABX) has closed its previously-announced sale of a portfolio of 22 royalties to Maverix Metals Inc.
Skeena Resources Limited, the operator of the Eskay Creek mine in British Columbia, has exercised its buy-down right to acquire 0.5 per cent of the 1.0 per cent net smelter returns royalty on the Eskay Creek mine.
As a result, Barrick received a total of $50 million in cash in respect of the portfolio.
Barrick has the right to receive up to an additional $10 million from Maverix if certain conditions relating to the portfolio are satisfied within six years of closing.
Barrick Gold Corp. is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa.
The company segments consist of nine gold mines, namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu.
Barrick Gold Corporation was up 0.245 per cent, trading at $20.42 at 1:44 PM ET.