Franco-Nevada Acquires Gold Stream on Cascabel Project
Ticker: FNV · Form: 6-K · Filed: Jul 15, 2024 · CIK: 1456346
| Field | Detail |
|---|---|
| Company | Franco Nevada CORP (FNV) |
| Form Type | 6-K |
| Filed Date | Jul 15, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: stream, acquisition, mining, precious-metals
TL;DR
Franco-Nevada and Osisko are buying a gold stream on SolGold's Cascabel project for $150M total.
AI Summary
On July 15, 2024, Franco-Nevada Corporation announced its agreement with Osisko Gold Royalties Ltd to acquire a gold stream on SolGold plc's Cascabel Copper-Gold Project. This transaction involves an upfront payment of $100 million from Franco-Nevada and $50 million from Osisko, with additional payments tied to production milestones.
Why It Matters
This strategic acquisition expands Franco-Nevada's portfolio with a significant copper-gold asset, potentially enhancing future revenue streams and diversification.
Risk Assessment
Risk Level: medium — The value of the stream is dependent on the successful development and production of the Cascabel project, which carries inherent mining risks.
Key Numbers
- $100.0M — Franco-Nevada Upfront Payment (Part of the total consideration for the gold stream.)
- $50.0M — Osisko Upfront Payment (Part of the total consideration for the gold stream.)
Key Players & Entities
- Franco-Nevada Corporation (company) — Registrant and acquirer
- Osisko Gold Royalties Ltd (company) — Partner in acquisition
- SolGold plc (company) — Owner of Cascabel project
- Cascabel Copper-Gold Project (company) — Asset being acquired stream on
- $100 million (dollar_amount) — Franco-Nevada's upfront payment
- $50 million (dollar_amount) — Osisko's upfront payment
- July 15, 2024 (date) — Date of news release
FAQ
What is the total upfront cash consideration for the gold stream?
The total upfront cash consideration is $150 million, with Franco-Nevada contributing $100 million and Osisko contributing $50 million.
What is the name of the project Franco-Nevada is acquiring a gold stream on?
Franco-Nevada is acquiring a gold stream on SolGold's Cascabel Copper-Gold Project.
Who is partnering with Franco-Nevada on this acquisition?
Osisko Gold Royalties Ltd is partnering with Franco-Nevada on this acquisition.
What type of asset is the Cascabel project?
The Cascabel project is a Copper-Gold Project.
When was this news release issued?
The news release was dated July 15, 2024.
Filing Stats: 167 words · 1 min read · ~1 pages · Grade level 14.1 · Accepted 2024-07-15 11:54:33
Filing Documents
- fnv-20240715x6k.htm (6-K) — 14KB
- fnv-20240715xex99d1.htm (EX-99.1) — 41KB
- fnv-20240715xex99d1001.jpg (GRAPHIC) — 6KB
- fnv-20240715xex99d1002.jpg (GRAPHIC) — 6KB
- 0001558370-24-009809.txt ( ) — 72KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of July 2024 Commission File Number 001-35286 FRANCO-NEVADA CORPORATION (Translation of registrant's name into English) 199 Bay Street, Suite 2000, P.O. Box 285, Commerce Court Postal Station, Toronto, Ontario, Canada M5L 1G9 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F Form 40-F INDEX TO EXHIBITS 99.1 News Release dated July 15, 2024 — Franco-Nevada and Osisko acquire a gold stream on SolGold's Cascabel Copper-Gold Project 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. FRANCO-NEVADA CORPORATION /s/ Lloyd Hong Date: July 15, 2024 Lloyd Hong Chief Legal Officer & Corporate Secretary 3