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Versamet Royalties Acquires Cornerstone Canadian Gold Stream on Eskay Creek
All amounts are in U.S. dollars unless otherwise indicated. Vancouver, British Columbia--(Newsfi...
About this update from Versamet Royalties Corp.
[{"type":"text","content":"Versamet Royalties Acquires Cornerstone Canadian Gold Stream on Eskay CreekAll amounts are in U.S. dollars unless otherwise indicated.Vancouver, British Columbia--(Newsfile Corp. - April 6, 2026) - Versamet Royalties Corporation  (NASDAQ: VMET) (TSX: VMET) (\"Versamet\" or the \"Company\") has entered into a definitive agreement with fund entities managed by Orion Resource Partners LP (collectively, \"Orion\") and funds entities managed by affiliates of Blackstone Inc., to acquire an existing 3.52% gold stream (the \"Gold Stream\") in respect of gold production from the Eskay Creek gold-silver project (\"Eskay\" or the \"Project\") in British Columbia, Canada, owned by Skeena Resources Limited (\"Skeena Gold & Silver\" or \"Skeena\") (the \"Transaction\").Dan O'Flaherty, CEO of Versamet, commented, \"This acquisition marks a significant step-change in Versamet's scale, adding a large, uncapped gold stream on what is expected to become one of the highest-grade, lowest-cost open-pit precious metals mines globally, located in a premier Canadian jurisdiction. The addition of this robust gold stream is expected to materially increase our attributable production to over 30,000 gold equivalent ounces (\"GEOs\") annually when Eskay reaches full capacity. As our largest acquisition to date, this transaction further enhances the quality and durability of our portfolio while maintaining exposure to meaningful exploration and expansion upside and is consistent with our focus on executing disciplined, accretive growth to drive long-term value for our shareholders.\" Transaction Highlights and Strategic RationaleRobust 3.52% life-of-mine gold stream provides significant exposure to a large, high-quality gold mine located in the prolific Golden Triangle region in British Columbia, Canada: Eskay is set to become a high-grade, low-cost gold and silver mine, expected to produce an average of over 300,000 ounces of gold per year in its first 5 years of operation.1 The Gold Stream is uncapped with no step-downs or buydown provisions providing Versamet with full exposure to future potential mine life extensions from both open pit and underground operations, as well as exploration upside along strike and at depth.Accretive addition of meaningful gold ounces to growth outlook starting in 2027: Construction is 49% complete as of February 28, 2...