Westhaven Gold (CVE:WHN) announced today it reached a financing deal with Franco-Nevada (NYSE: FNV).
Westhaven is a junior resource company. The company traded up 10% today to 43 cents a share.
Westhaven agreed to sell a 2% net smelter return royalty (NSR) to Franco-Nevada for $6 million. The NSR applies to all of Westhaven’s claims across the Spences Bridge Gold Belt in Southwestern British Columbia, Canada. Westhaven has an option to buy-down 0.5% of the NSR for US$3,000,000 for a period of 5 years from the closing of the transaction. Westhaven has also agreed to sell to Franco-Nevada for US$750,000 the Talisker Resources Ltd. net smelter return royalty originally granted to Westhaven by Sable Resources.
