news

Westhaven Gold signs financing agreement with Franco-Nevada

Kitco Media
By Kitco News
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

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.

Share

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.