Triple Flag Precious Metals (TSX: TFPM, NYSE: TFPM) announced Tuesday that it has entered into an agreement to acquire Orogen Royalties Inc. (TSX-V: OGN, OTCQX: OGNRF) in a transaction valued at approximately C$421 million (US$305 million).
The acquisition will give Triple Flag access to a 1.0% net smelter return (NSR) royalty on the Expanded Silicon gold project in Nevada, considered one of the most significant new gold discoveries in the United States in over a decade.
Shares of Orogen rose 28% Tuesday morning in Toronto, bringing the company’s market capitalization to C$373 million (US$270 million).
Flagship Nevada asset
The Expanded Silicon project, fully owned by AngloGold Ashanti (NYSE: AU), is located in the Beatty District of Nevada and includes the Merlin and Silicon deposits. The royalty covers a 74 km² area of interest and comes with no caps, step-downs, or buydown…
