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Treasury Metals Announces US$20 Million Royalty Financing to Fund Goliath Gold Complex to Construction Decision
Treasury Metals Announces US$20 Million Royalty Financing to Fund Goliath Gold Complex to...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n \n \n \n Treasury Metals Announces US$20 Million Royalty Financing to Fund Goliath Gold Complex to Construction Decision\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Highlights:\n \n \n \n \n \n \n US$20 million\n \n financing through the sale of a royalty to an affiliate of Sprott Resource Streaming and Royalty Corp (\"SRSR\") expected to fund the completion of economic studies, permitting and community engagement, including corporate G&A. Summary details of the royalty include:\n \n \n \n \n \n A\n \n US$20 million\n \n upfront payment;\n \n \n \n \n 2.2% of net smelter returns revenue of all minerals produced on the properties comprising the Goliath Gold Complex;\n \n \n \n \n Option, solely at the discretion of the Company, to repurchase 50% of the Royalty until\n \n December 31, 2028\n \n ;\n \n \n \n \n Automatic reduction of the royalty rate by 50% upon the achievement of 1.5 million ounces of gold production;\n \n \n \n \n The right for SRSR to participate for up to 40% or\n \n US$40 million\n \n in future metals streaming or royalty financing undertaken by the Company.\n \n \n \n \n \n The financing is subject to customary closing conditions and is expected to close towards the end of\n \n March 2022\n \n .\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 14, 2022\n \n \n /CNW/ -\n \n Treasury Metals Inc.\n \n (TSX: TML) (OTCQX: TSRMF) (\"\n \n Treasury\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has entered into a royalty agreement with an affiliate of Sprott Resource Streaming and Royalty Corp. (\"SRSR\" or \"Sprott\") in relation to the Company's 100% owned Goliath Gold Complex (\"GGC\", or the \"Project\"), which comprises the Goliath, Goldlund and Miller Gold Projects.  Under the terms of the agreement, SRSR will pay Treasury consideration of\n \n US$20 million\n \n for a 2.2%\n \n net smelter returns\n \n royalty (the \"Royalty\") covering all minerals produced from the GGC for the life of the Project.  Further details are set out below under \"Royalty Transaction...