Newmont Forms Partnership with Maverix Metals Through Royalty Sale
Newmont Mining Corp. has agreed to sell its royalty portfolio to Maverix Metals Inc. (TSXV: MMX), an emerging precious-metals royalty and streaming company. Under the deal, Newmont says it will receive 60 million Maverix shares representing an ownership interest of 28%, $17 million in cash and warrants for an additional 10 million shares. Newmont’s royalty portfolio includes 54 precious metals and industrial minerals royalties, including TMAC Resources’ Hope Bay mine in Canada and Premier Gold’s McCoy Cove project in Nevada. “Our strategic partnership and equity interest in Maverix generates value for both companies’ shareholders,” says Randy Engel, Newmont’s executive vice president for strategic development. “Maverix’s management team has a strong track record of managing and growing high-quality royalty and streaming assets in favorable mining districts on four continents.”
By Allen Sykora of Kitco News; firstname.lastname@example.org
Silvercorp Metals Increases Semiannual Dividend
Tuesday May 29, 2018 10:18
Silvercorp Metals Inc., a Canadian company with multiple mines in China, announces that its semiannual dividend has been increased to $0.0125, up from $0.01. This will be paid to shareholders of record at the close of business on June 8, with a payment scheduled on or before June 29. Silvercorp says this is the third time in three years that the board of directors has upped the dividend.