leadf
logo-loader
viewMaverix Metals Inc

Maverix Metals updates latest development on its Newmont Royalty portfolio

Construction of the power line to site at Camino Rojo continues ahead of schedule and process plant equipment has started to arrive

Maverix Metals Inc -
Maverix is a gold-focused royalty and streaming company with a global portfolio of over 100 assets

Maverix Metals Inc (TSE:MMX) (NYSEAMERICAN:MMX) (FRA:7781) updated Monday on its portfolio of gold royalties it acquired in October this year from mining giant Newmont Corp (TSE:NGT) (NYSE:NEM) (FRA:NMM), which included the Camino Rojo  gold project in in Zacatecas state, Mexico. 

Construction of the power line to site continues ahead of schedule and process plant equipment has started to arrive, reported Maverix in a statement. Orla Mining (TSE:OLA) (OTCMKTS:ORRLF) (FRA:O8M) expects the first gold pour in the second half of 2021. 

READ: Maverix Metals names industry veteran Tara Hassan as independent board director

Orla has decided not to exercise its right of first refusal (ROFR) on the 2% net smelter return (NSR) royalty on output from the project, so Maverix will acquire the royalty and is set to benefit.

Elsewhere, the ROFR on the Cristina project in Chihuahua, Mexico, was not exercised and Maverix will also acquire the 2% NSR royalty.

Conversely, Criscora, which is a wholly-owned subsidiary of TCP1 Corporation, will acquire the 1% NSR royalty on the Yecora project in the Sonora state, Mexico for a cash payment of $1.5 million, which Maverix will receive.

Earlier this year, Maverix said the US$90 million deal for 11 gold royalties on a selection of Newmont’s North American assets provided it with an enhanced growth pipeline with near term cash flow.

Maverix is a gold-focused royalty and streaming company with a global portfolio of over 100 assets.

Contact the author at giles@proactiveinvestors.com

Quick facts: Maverix Metals Inc

Price: 6.23 CAD

TSX:MMX
Market: TSX
Market Cap: $875.24 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Maverix Metals Inc named herein, including the promotion by the Company of Maverix Metals Inc in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Maverix Metals outlines royalty assets that will continue to drive company...

Maverix Metals (TSE: MMX- NYSEAMERCIAN: MMX) CFO Matt Fargey joined Steve Darling from Proactive to give investors a look at their royalty assets that drove strong results from the company in 2020 and look equal or beat that in 2021. Fargey also shared with Proactive how they are starting to...

2 weeks, 4 days ago

2 min read