{"id":1152792,"date":"2019-12-02T09:41:25","date_gmt":"2019-12-02T15:41:25","guid":{"rendered":"https:\/\/www.mining.com\/?p=1008172"},"modified":"2019-12-02T09:41:25","modified_gmt":"2019-12-02T15:41:25","slug":"kinross-gold-sells-portfolio-royalties-to-maverix-metals-for-74m","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1152792","title":{"rendered":"Kinross Gold sells portfolio royalties to Maverix Metals for $74m"},"content":{"rendered":"<p>Canadian miner Kinross Gold (TSX:G) (NYSE:KGC)\u00a0<a href=\"https:\/\/www.kinross.com\/news-and-investors\/news-releases\/press-release-details\/2019\/Kinross-announces-sale-of-royalty-portfolio-to-Maverix-Metals-for-total-consideration-of-74-million\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">has agreed to sell its royalty portfolio<\/a> to precious metals royalty and streaming company Maverix Metals (TSX:MMX) for $74 million \u2014 $25 million in cash and nearly 11.2 million shares in the target company (a 9.4% stake).<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The deal, involving 25 precious metals royalties, also gives<br \/>\nthe Toronto-based miner pre-emptive rights to participate in any future equity<br \/>\nfinancings to maintain its ownership position. <\/p>\n<p>The transaction grants gold-focused Maverix access to output<br \/>\nfrom &nbsp;Integra Resources\u2019 DeLamar project in Idaho, Polymetal\u2019s Omolon Hub<br \/>\noperations in Russia, Barrick Gold and Newmont Goldcorp\u2019s Cerro Casale project<br \/>\nin Chile, Premier Gold Mines\u2019 McCoy Cove project in Nevada, Agnico Eagle\u2019s<br \/>\nHammond Reef project in Ontario, and a number of early stage development and exploration<br \/>\nprojects.<\/p>\n<p>The deal, which increases Vancouver-based Maverix&#8217;s total<br \/>\nasset portfolio to 105 royalties and streams, is expected to close on or before<br \/>\nthe end of the year.<\/p>\n<p><em>More to come\u2026<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal involving 25 precious metals royalties and a number of early stage development and exploration projects.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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