Minerals 260 (ASX: MI6)

Announced that it has signed an additional $200 million funding package with Franco-Nevada Corporation and its wholly-owned subsidiary, Franco-Nevada Australia Pty Ltd.  to support the development of the 6.2Moz Bullabulling Gold Project, located 65km from
Kalgoorlie in Western Australia.

 

 

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	Minerals 260	ASX: MI6
	Stage	Exploration, development
	Metals	Gold
	Market cap	A$2 billion   @  A$0.88
	Location	Western Australia
	Website	www.minerals260.com.au

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Minerals 260 Agree Additional $200 million funding with Franco-Nevada

Minerals 260 Limited (ASX: MI6) (“Minerals 260” or “the Company”) is pleased to announce that it has signed an additional $200 million funding package with Franco-Nevada Corporation (“Franco-Nevada”) and its wholly-owned subsidiary, Franco-Nevada Australia Pty Ltd. (“Franco-Nevada Australia”), to support the development of the 6.2Moz Bullabulling Gold Project (“the Project or Bullabulling”), located 65km from
Kalgoorlie in Western Australia.

 

Highlights

• Franco-Nevada Australia will pay $170 million to increase its royalty by 1.45% over the Project area.
• Franco-Nevada has confirmed its intention to subscribe for $30 million in a future equity raising.
• This brings Franco-Nevada’s total investment in Minerals 260 to $420 million since its initial investment of $220 million in February 2026, representing Franco-Nevada’s largest ever commitment to a project in Australia and one of its largest ten investments globally, validating Bullabulling as one of Australia’s leading, long-life and large-scale gold development projects.
• Investment by Franco-Nevada Australia follows due diligence on the 6.2Moz Mineral Resource and Pre-Feasibility Study, and represents highly attractive, non-dilutive funding for Minerals 260.
• Franco Nevada will also contribute up to $100,000 each year for three years to support local community, education and environment initiatives.

 

Management Comments

Commenting on the funding package, Minerals 260 MD, Luke McFadyen, said:

“The Board of Minerals 260 are thrilled to extend our partnership with Franco-Nevada, and we thank them for their continued support and vote of confidence.

 

“This is another exceptional milestone for Minerals 260 and our shareholders. Securing this level of support from Franco Nevada, a ~$50 billion market cap company and the largest royalty company in the world, further endorses Bullabulling as one of Australia’s leading gold development projects.

 

“Franco Nevada’s investment in our community initiatives extends our relationship beyond just a financial one and reflects a shared commitment to the Project and the long-term nature of the partnership we are building”.

 

Paul Brink, Franco-Nevada’s President & CEO, said:

“Both the team at Minerals 260 and the Bullabulling orebody continue to surpass our expectations.

 

“The Company is ahead of schedule on project development and financing and has rapidly grown its resource endowment.

 

“We are delighted to take this next step in building our partnership with the Company.

 

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To read the full news release please click HERE

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Disclosure

At the time of writing the author holds shares in Minerals 260

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