Royal Gold agrees to buy Sandstorm Gold and Horizon Copper for $3.7bn

Royal Gold will pay about $3.5bn in shares for Sandstorm, 0.0625 of its shares per Sandstorm share, and $196m in cash for Horizon. The deals add 40 producing royalties and streams and lift Royal Gold’s expected 2025 output by about 26%. Royal Gold holders will own about 77% of the combined company.

Why it matters. Royalty companies consolidate too, buying portfolios of streams and royalties rather than mines.

Source

MINING.COM

In the course

Module 7: Funding a project