Proactive Investors - Run By Investors For Investors

Metalla Royalty & Streaming closes Fifteen Mile Stream royalty acquisition

The company said it closed its previously announced acquisition of a 1% net smelter royalty (NSR) on Atlantic Gold Corp's Fifteen Mile Stream project in Nova Scotia
Metalla is a precious metals royalty and streaming company

Metalla Royalty & Streaming Ltd (CVE:MTA) announced Tuesday it has closed its previously announced acquisition of a 1% net smelter royalty (NSR) on Atlantic Gold Corp's Fifteen Mile Stream project.

The US$4 million royalty is linked to two claims formally held by Atlantic, which covers the Egerton-Maclean, Hudson, 149 East Zone, and the majority of the Plenty deposit. Collectively, they are known as the Fifteen Mile Stream project (FMS)  in Nova Scotia, Canada.

READ: Metalla Royalty & Streaming buys 1% net smelter royalty on Fifteen Mile Stream project for US$4M

The FMS project is being developed by Atlantic Gold as part of its multi-phase mine plan. According to Atlantic Gold, the FMS project is expected to produce approximately 80,000 ounces of gold in 2021 during its first year of production.

Metalla will satisfy the transaction with an upfront payment of $2.2 million in cash and more than 2.6 million company shares.

Shares of Metalla eased 1.9% at C$1.04 on Tuesday. 

Contact Katie Lewis at [email protected]
Follow her on Twitter: @kelewis

View full MTA profile View Profile

Metalla Royalty and Streaming Ltd Timeline

Related Articles

Drilling equipment on a Yandal site last year in 2018
January 09 2019
The ASX newcomer is backed by Northern Star Resources which holds a 15% stake.
A gold key
The gold company created by a merger of Aphrodite and Excelsior has multiple lodes at depth at Zoroastrian deposit which are suited to underground mining.
Diammonium phosphate fertiliser produced from Ammaroo ore
April 01 2019
If shareholders agree, the natural resources fund may take over a lion’s share of VRM this quarter then delist the entity.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use