Upon completion, Elemental Altus would increase its global royalty land coverage by 20% (1,500 square kilometres), bringing the royalty portfolio to more than 75 royalties covering approximately 9,000 square kilometres.
According to the company, this transaction would significantly expand its North American royalty presence with an additional five royalties in Canada and the US.
Included in the royalty package is a 2% net smelter return (NSR) royalty on the Pickle Crow gold project in Ontario, one of Canada’s highest-grade gold deposits (over 2 million ounces), having produced over 1.5 million ounces in the past; and a 1.5% NSR royalty on the Hope Brook gold project in Newfoundland, which has previously produced approximately 750,000 ounces.
“The acquisition of this royalty portfolio materially expands our development pipeline in Canada,” Elemental Altus CEO Frederick Bell said in a news release. “The Pickle Crow and Hope…
