Evolve Strategic Element Royalties is going public through a reverse takeover of prospect generator Voyageur Mineral Explorers.
The pro-forma business will be a copper-focused royalty company with cornerstone Canadian assets:
- 0.51% net profits interest in Teck Resources’ Highland Valley Copper mine
- 5% NSR copper royalty on Hudbay Minerals’ Copper Mountain mine
- 2.5% NSR royalty on gold and silver produced at Copper Mountain
- 75 cent (CAD) per tonne royalty on Foran Mining’s McIlvenna Bay deposit.
Voyageur intends to wind down its prospect generation business. In a highly competitive market for royalties, I’ll be watching to see if Evolve can source and finance accretive acquisitions on copper assets that matter.
Elsewhere:
Record revenue and gold equivalent ounces for the former Maverix team at Versamet Royalties.
Orogen Royalties 2.0 is alive, well and generating cash after selling its Arthur royalty to Triple Flag.
Vox Royalty spent US$1-million on an iron ore royalty in Western Australia. “The Royalty is a 1.5% Gross Revenue Royalty payable on the first 15 million tonnes of iron ore production from the Wyloo North deposit, which forms part of Fortescue’s Greater Western Hub.”
Silver Crown Royalties is raising $5-million through a LIFE offering of shares and warrants. “We have identified a number of cash flowing silver royalties and wanted to have a war chest at the ready in order to move quickly with these projects.”
