Solaris Resources (TSX:SLS) (NYSEAmerican:SLSR) has announced the execution of US$200 million in financing agreements with RGLD Gold AG (“Royal Gold”), a subsidiary of Royal Gold, Inc. The funding package comprises a gold stream and a net smelter return royalty. US$100 million is immediately available to Solaris. The company states that the financing will be used to repay its senior secured debt facility with Orion Mine Finance Management LP and is anticipated to provide the necessary funds for value-accretive derisking activities through to a final investment decision for the Warintza project.
According to Solaris, the gold stream is expected to represent a small percentage of the gold produced over the mine’s life. The company also noted that a stream termination provision exists without penalties in the event of a change-of-control scenario. Solaris emphasized that it has maintained…
