Metalla Royalty & Streaming Ltd (NYSEAMERICAN:MTA) (CVE:MTA) (FRA:X9C) said Thursday it had acquired another two royalties to add to its growing portfolio.
The group acquired a 0.5% net smelter return (NSR) royalty on a portion of Barrick Gold’s Alturas-Del Carmen project in Argentina for C$1.6 million in cash from Coin Hodl Inc (CVE:COIN).
In addition, Metalla snagged a 0.45% NSR covering Agnico Eagle’s Amalgamated Kirkland property and Kirkland Lake Gold's North AK Property in Kirkland Lake, Ontario, for C$0.7 million in cash from private third parties.
READ: Metalla Royalty & Streaming closes its royalty acquisition on Eldorado Gold's Tocantinzinho project in Brazil
CEO Brett Heath said that the two transactions provide “extraordinary value” for shareholders.
“Alturas-Del Carmen is a nearly nine-million-ounce gold project actively being explored and advanced toward development by one of the world's largest gold producers,” Heath said in a statement.
“The Amalgamated Kirkland development projects reside on one of Canada's most proven geological trends. It also provides an easily accessible mill feed for Agnico Eagle's large Kirkland Lake camp with significant exploration potential."
Vancouver-based Metalla also announced that it had closed the acquisition of an existing 1-2% NSR royalty on the CentroGold project in Brazil owned by Australia’s Oz Minerals Ltd (ASX:OZL) (OTCMKTS:OZMLF) (FRA:OXR). The group acquired the royalty from Jaguar Mining Inc (TSE:JAG) (OTCMKTS:JAGGF) (FRA:32JP) for US$7 million. Metalla said it had also agreed to pay up to an additional US$11 million to Jaguar upon the achievement of certain milestones.
Contact Angela at angela@proactiveinvestors.com
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