Barrick sells the Hemlo mine for up to $1.09bn

Carcetti Capital, to be renamed Hemlo Mining Corp, agreed to pay $875m in cash, $50m in shares and up to $165m in payments linked to production and the gold price from 2027. Wheaton Precious Metals backed the buyer with a gold stream. Hemlo was Barrick’s last Canadian mine.

Why it matters. A stream from a royalty company can fund much of an acquisition without the buyer issuing many shares.

Source

Mining Weekly

In the course

Module 7: Funding a project