Elliott boosts stake in Triple Flag to 67%
March 16 (Reuters) - Elliott Investment Management on Thursday raised its stake in gold-focused streaming and royalty firm Triple Flag Precious Metals Corp to 67% from 64.7%.
The hedge fund acquired 4.7 million shares in Triple Flag at C$16.50 per share.
Triple Flag provides upfront financing to miners in exchange for a share of future revenue or production. It has vested interests in royalty, concerning Alamos Gold Inc's Young-Davidson mine located in Ontario, and Kirkland Lake Gold Ltd's Fosterville underground mine in Australia.
The mine financing company in 2021 had raised more than $250 million in an initial public offering, the biggest Toronto Stock Exchange mining debut since 2012.
Elliott previously had bought 129.1 million shares in the Canada-based company, according to an SEC filing.
(Reporting by Arshreet Singh; Editing by Shilpi Majumdar)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.