Business
Summit Royalty to Acquire Cash Flowing 1.0% NSR Royalty on the Madsen Project
Summit Royalty to Acquire Cash Flowing 1.0% NSR Royalty on the Madsen Project Canada Ne...
About this update from West Red Lake Gold Mines Ltd
[{"type":"text","content":"\n\n\n\n Summit Royalty to Acquire Cash Flowing 1.0% NSR Royalty on the Madsen Project\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\n TORONTO\n \n\n ,\n \n\n July 22, 2025\n \n\n /CNW/ - Summit Royalty Corp. (\"\n \n Summit\n \n \" or the \"\n \n Company\n \n \"), a private royalty and streaming company, is pleased to announce that it has entered into a definitive agreement to acquire an existing 1.0% net smelter return (\"NSR\") royalty on the producing Madsen Project (\"\n \n\n Madsen\n \n\n \") from a Fund managed by Sprott Resource Lending Corp. for total consideration of\n \n $9.9 million\n \n .\n \n Madsen\n \n is located in the prolific\n \n Red Lake\n \n mining district of\n \n Ontario\n \n and is 100% owned and operated by West Red Lake Gold Mines Ltd. (TSXV: WRLG) (\"\n \n\n West Red Lake\n \n\n \"). Unless otherwise indicated, all $ amounts are expressed in US dollars.\n \n\n\n \"We are very pleased to announce this royalty acquisition on a producing mine within\n \n Canada\n \n that materially enhances Summit's existing royalty portfolio,\"\n \n said\n \n Drew Clark\n \n , Founder and President of the Company\n \n . \"\n \n Madsen\n \n is a storied mine within the prolific\n \n Red Lake\n \n mining district, having produced over 2.5 million ounces of high-grade gold during its lifetime. This acquisition materially increases Summit's cash flow and is accretive across all metrics and, importantly, provides Summit with a substantial portion of the Company's pro-forma net asset value to\n \n Canada\n \n . This acquisition also demonstrates our ability to continue to source deals on a bilateral basis outside of a typical sales process, which we will continue to do as we grow Summit into a preeminent cash flowing junior royalty and streaming company focused on precious metals.\"\n \n\n\n\n Key Acquisition Terms and Transaction Highlights\n \n\n\n\n A 1.0% NSR royalty that covers all mineral properties comprising\n \n Madsen\n \n , covering approximately 4,700 ha of highly prospective exploration ground.\n \n\n\n $9.9 milli...