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Friday, September 2, 2022 - 16:48:50
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Mining News Pro - Barrick Gold announced Thursday that it has entered into an agreement to sell a portfolio of royalties to Maverix Metals (TSX: MMX) for total consideration of up to $60 million.
The portfolio consists of 22 royalties on the production of minerals from mines located in North America, South America, Australia and Africa. The total consideration of $60 million consists of $50 million in cash payable on closing.
The payments include $6 million if the operator of the Eskay Creek project in British Columbia obtains all material permits necessary to commence construction of the mine within six years of closing; $2 million if Maverix receives cash payments from the portfolio, excluding the Eskay Creek royalty, equal to or greater than $10 million within six years of closing; and a further $2 million if Maverix receives cash payments from the portfolio, excluding the Eskay Creek royalty, equal to or greater than $20 million within six years of closing.
The transaction is targeted to close at the end of the third quarter of this year, Barrick said.
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https://www.miningnews.ir/En/News/622092
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