- Franco-Nevada (TSX/NYSE: FNV) has taken a 12.4% stake in Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0), a prolific North American junior miner.
- Kenorland owns a 4% net smelter return royalty on the Frotet project in Quebec, whose Regnault system hosts an inferred resource of 2.55 million ounces of gold.
- Shares of Kenorland Minerals last traded at C$2.23, remaining flat year-over-year, while adding 209.72% since 2021.
Top mining royalty and streaming company Franco-Nevada (TSX/NYSE: FNV) has taken a 12.4% stake in Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0), a junior miner advancing an expansive and highly prospective North American portfolio.
Franco-Nevada picked up 10 million Kenorland shares priced at C$2.22 for a total of C$22.2 million, with 7,950,000 shares sold by John Tognetti and 2,050,000 shares sold by President and Chief Executive Officer, Zach Flood.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
As a result of the transaction, Tognetti’s stake decreased from 13.8% to 3.93%, or 3,165,603 shares, falling below the 10% threshold to qualify for insider status. Flood, for his part, continues to hold 3,422,888 shares.
According to Tuesday’s news release, Franco-Nevada and Tognetti have no immediate plans to sell or grow their investments.
Kenorland holds a 4% net smelter return royalty on the Frotet project in Quebec, owned by Sumitomo Metal Mining Canada. The property’s Regnault system, discovered by Kenorland and Sumitomo in 2020, hosts an inferred resource of 2.55 million ounces of gold.
The company complements its flagship asset with 18 exploration-stage projects, where numerous drill programs have recently wrapped up or are preparing to break ground. Highlights include the South Uchi project in Ontario, optioned to Auranova Resources (TSXV: AURA), where gold-bearing structures extend for 7 km across the Papaonga target area, and the Western Wabigoon and Flora projects, also in Ontario, optioned to Centerra Gold (TSX:CG), which feature multiple drill-tested gold anomalies on track to deliver a steady stream of news flow over the coming months.
About Kenorland Minerals
Kenorland Minerals is a mining company focused on exploration and project generation in North America.
Kenorland Minerals stock (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) last traded at C$2.23, remaining flat year-over-year, while adding 209.72% since 2021.
Join the discussion: Find out what investors are saying about this junior gold miner on the Kenorland Minerals Ltd. and Franco-Nevada Corp. Bullboards and explore the rest of Stockhouse’s stock forums and message boards.