G Mining Ventures (TSX: GMIN)

Announced that Franco-Nevada Corporation has agreed to exercise by no later than December 4, 2024, the 11,500,000 common share purchase warrants issued to them in connection with the Corporation’s Tocantinzinhoproject financing package announced in 2022.

 

 

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G Mining Ventures	TSX: GMIN
Stage	Development + Exploration
Metals	Gold
Market cap	C$2.72 billion @ C$12.67
Location	Para State, Brazil, + Guyana
Website	www.gminingventures.com

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G Mining Ventures Announces Proposed Exercise of Share Purchase
Warrants Held by Franco-Nevada

 

BROSSARD, QC, Nov. 6, 2024 /CNW/ – G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that
Franco-Nevada Corporation (“Franco-Nevada”) has agreed to exercise by no later than December 4, 2024, the 11,500,000 common share purchase warrants (“Warrants”) issued to them in connection with the Corporation’s Tocantinzinho (“TZ”) project financing package announced in 2022 (see press releases dated July 18, 2022 and July 22, 2022).

 

Pursuant to the proposed exercise, the Corporation will issue 2,875,000 common shares to Franco-Nevada for aggregate gross proceeds of $21.85 million.

 

Each Warrant entitles Franco-Nevada to acquire 0.25 of a common share of GMIN at an exercise price of $1.90 per 0.25 of a share, equivalent to $7.60 per whole share, on or before the expiry date of July 21, 2027. Under the terms of the Warrants, the Corporation is permitted to accelerate the expiry date if its shares have traded on the Toronto Stock Exchange at a volume-weighted average price of greater than $12.00 for a period of 10 consecutive trading days (the “Acceleration Event”).

 

The Acceleration Event has been realized as of October 31, 2024, and, as a result, the Corporation has elected to accelerate the expiry date to December 4, 2024.

 

 

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Louis-Pierre Gignac, President & Chief Executive Officer of GMIN stated,

“We are pleased to announce this warrant acceleration and exercise, a testament to GMIN’s commitment to delivering shareholder value, underpinned by our successful execution of the Tocantinzinho mine construction and strict capital discipline.

 

“We deeply appreciate Franco-Nevada’s steadfast support and confidence in our vision.

 

“Their partnership was instrumental in achieving the milestone of TZ’s first gold pour and reaching commercial production in 2024, on schedule and within budget.”

 

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History

Franco-Nevada invested US$352.2 million in development capital for GMIN’s TZ project in Brazil.

This investment included a US$27.5 million equity investment, a US$250 million gold stream and a US$75 million senior secured term loan.

The equity portion of the investment was made at $3.20 per share, representing a
23% premium to the closing price on the day before the deal announcement ($2.60 per share).

The $12.00 per share required to trigger the Acceleration Event represents a 275% premium to the $3.20 per share equity investment and a 362% premium to the closing price on the day before the deal announcement.

Upon exercise of these Warrants, GMIN will have eliminated all warrant instruments, marking a significant milestone in the Corporation’s capital structure and growth trajectory.

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To read the full news release, please click HERE

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Lefroy Exploration(ASX: LEX)

Announced details of a significant addition to its growing portfolio of assets in the world-class Goldfields region of Western Australia.

LEX’s wholly owned subsidiaries have entered into an agreement with Franco-Nevada Australia Pty to acquire mineral rights across the Loc45 freehold property, located 35km SE of Kalgoorlie. 

 

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Lefroy Exploration	ASX: LEX
Stage	Exploration
Metal	Gold
Market cap	A$42 m @ 29c
Location	Kalgoorlie, Western Australia

Comment

Lefroy is on my early stage watchlist, as it lies close to Karora’s properties, amongst others, in the prolific goldfields south of Kalgoorlie, in Western Australia.

As a result of this transaction I am moving Lefroy up into the second tier of the watchlist, as they are now looking for early stage production, and they are looking to spin out their nickel assets.

 

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ACQUISITION OF MINERAL RIGHTS TRANSFORMS LEFROY

 

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Lefroy Exploration Limited (ASX: LEX; “Lefroy” or “the Company”) is pleased to announce details of a significant addition to its growing portfolio of assets in the world-class Goldfields region of Western Australia.

LEX’s wholly owned subsidiaries Monger Exploration Pty Ltd (MEX) and Johnston Lakes Nickel LTD (JLN), have entered into an agreement with Franco-Nevada Australia Pty Ltd (“Franco-Nevada”) to acquire mineral rights across the East Location 45 (“Loc45”) freehold property, located 35km south-east of Kalgoorlie.

 

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HIGHLIGHTS

• Strategic acquisition of mineral rights on freehold property ‘East Location 45’ (Loc45)
from Franco-Nevada, located 35km southeast of Kalgoorlie
• Adjoins Company’s flagship Lefroy Gold Project and expands its contiguous land package by 76.3km2 to a total of 631.7km²
• Lefroy’s total mineral resource inventory increased to 1.1Moz Au; 58kt Cu; and 15kt Ni
• Advanced projects acquired include the Mt Martin Gold Mine and Goodyear nickel
deposit, presenting an outstanding platform for future growth in both commodities:
• Mt Martin Mine 8.7Mt @ 1.79g/t Au for 501,175oz
• Goodyear Deposit 391,250t @ 3.78% Ni (14,780t contained Ni)
• LEX’s wholly-owned subsidiary, Johnston Lakes Nickel Ltd (JLN) to hold nickel, lithium and Rare Earth Element mineral rights in Loc45. This enhanced nickel portfolio will support a separate listing from LEX in second half of 2023

• Mt Martin Gold Mine presents the opportunity to fast-track development, which will be
evaluated in a comprehensive review of LEX’s resources, under the view of commencing production as soon as is practicable

 

Franco-Nevada is a wholly owned subsidiary of Franco-Nevada Corporation (TSX:FNV) (NYSE:FNV), the world’s leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets.

Loc45 is one of the rare parcels of freehold land in Western Australia in which the registered owner was granted the rights to minerals in the land and does not require the grant of a mining tenement under the Mining Act 1978.

The addition of Loc45 increases Lefroy’s contiguous land holding across the broader Lefroy Gold Project to 631.7 km², which now covers approximately 50km of strike of wholly owned tenure between the Burns Gold-Copper deposit in the far south-east to the Mt Martin Gold Mine in Loc45 to the north-west, which is considered highly
prospective for both gold and nickel mineralisation.

The acquisition notably expands the wholly owned Eastern Lefroy Project to 385.8 km² (Figure 2). Moreover, it elevates the Company’s total gold resource inventory to over 1 million ounces opening up substantial new opportunities for exploration and development options within its growing asset portfolio.

 

 

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LEFROY MANAGING DIRECTOR WADE JOHNSON COMMENTED:

“This is an absolutely outstanding acquisition that has transformed Lefroy and its subsidiaries.

 

“Within just a few years, we have successfully attained our goal of a +1Moz gold resource for Lefroy have also curated a highly promising asset portfolio for the intended upcoming JLN nickel IPO.

 

“This acquisition has positioned both the Company and JLN exceptionally well, offering a diverse range of assets, multiple avenues for development, and strengthened ongoing plans for exploration and resource definition, all of which significantly enhance the value of the Company.

 

“While we have already undertaken extensive investigation of the resources in Loc45, there is still much work to be done. However, we are already highly confident that we possess sufficient resources to initiate open cut production of gold in the near term.”

 

To read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Lefroy Exploration

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To read our full terms and conditions, please click HERE

Skeena Resources (TSX / NYSE: SKE)

Has closed a royalty sale with Franco-Nevada Corporation pursuant to which Skeena granted a 0.5% net smelter returns royalty on the Eskay Creek gold-silver Project to Franco-Nevada in exchange for a closing cash consideration of C$27 million and contingent cash consideration of C$1.5 million. 

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Skeena Resources	TSX: SKE
Stage	Development + Exploration
Metals	Gold, silver
Market cap	C$627 million @ C$8.28
Location	Golden Triangle, British Columbia

 

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Comment

After ignoring Skeena for years at various conferences due to the fact that they had a high market cap and I considered I’d missed the boat, I finally met them at Mines and Money last December, and at the current market cap I have to agree they now look interesting.

This news about a royalty sale to Franco-Nevada, a top royalty company, validates the potential that Skeena has in my opinion.

Skeena is added to our tier 2 watchlist.

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SKEENA CLOSES SALE OF ROYALTY ON ESKAY CREEK FOR C$27 MILLION

January 3, 2023

View PDF

NR: 23-01

Vancouver, BC (January 3, 2023) Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena” or the “Company”) is pleased to announce that the Company has closed a royalty sale (the “Royalty Transaction”) with Franco-Nevada Corporation (“Franco-Nevada”) pursuant to which Skeena granted a 0.5% net smelter returns royalty (“NSR”) on the Eskay Creek gold-silver Project (“Eskay Creek” or the “Project”) to Franco-Nevada in exchange for a closing cash consideration of C$27 million and contingent cash consideration of C$1.5 million.

As highlighted in the Company’s September 26, 2022 news release, Skeena repurchased this 0.5% NSR from Barrick Gold Corporation after it was initially granted in connection with the acquisition of Eskay Creek.

The Royalty Transaction was signed and closed concurrently on December 30, 2022. In connection with this transaction, Skeena terminated Franco-Nevada’s right of first refusal to purchase a 0.5% NSR on Eskay Creek, which right was granted to Franco-Nevada on December 24, 2021.

The net proceeds of the Royalty Transaction will be used by the Company to fund ‎exploration and development activities at Eskay Creek and for general ‎administration and corporate purposes.‎

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About Skeena Resources

Skeena Resources Limited is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in the Golden Triangle of northwest British Columbia, Canada.

The Company released a Feasibility Study for Eskay Creek in September 2022 which highlights an open-pit average grade of 4.00 g/t Au Eq, an after-tax NPV5% of C$1.4B, 50% IRR, and a 1-year payback at US$1,700/oz Au and US$19/oz Ag.

Skeena is currently continuing exploration drilling at Eskay Creek.

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To read the full news release, please click HERE

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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.

Disclosure

At the time of writing the author holds no shares in the company mentioned.

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To read our full terms and conditions, please click HERE

Westhaven Gold Corp. (TSX.V: WHN)

Announced that it has entered into a financing arrangement with Franco-Nevada Corporation (TSX, NYSE: FNV), the leading gold-focused royalty and streaming company.

Westhaven has agreed to sell a 2% net smelter return royalty to Franco-Nevada for US$6,000,000. The NSR applies to all of Westhaven’s claims across the Spences Bridge Gold Belt, in B.C., Canada. 

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Westhaven Gold	TSX.v : WHN
Stage	Exploration
Metals	Gold
Market cap	C$55 m   @ 42 cents
Location	British Columbia, Canada

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Westhaven Arranges Financing Package With Franco-Nevada Corporation

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Market Review August 2022 Published

The City Investors Circle Market Review for August 2022 has been published, with a focus on the effect of interest rises on a falling junior mining market.

Companies mentioned include Gold Road Resources, Cabral Gold, Uranium Energy Corp., Franco Nevada, and Royal Gold.  To read the Review 

 

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City Investors Circle – Market Review August 2022 Published

The City Investors Circle Market Review for August 2022 has been published, with a focus on the effect of interest rises on precious metals and a falling junior mining market.

Valuations are low and with another rate rise due in a few weeks, look to be going lower before they may bounce, and if the FED remains hawkish that may not be before 2023, with tax loss selling looming over the horizon from November onwards.

Companies mentioned include Gold Road Resources, Cabral Gold, Uranium Energy Corp., Franco Nevada, and Royal Gold.

To Read the August 2022 Market Review, please click HERE

 

To subscribe to the Market Review and receive invitations to our free to attend company presentations, please email andrew:city-investors-circle.com

 

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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.

Disclosure

At the time of writing the author holds shares in Gold Road Resources, Minera Alamos, and Orla Mining, bought in the market at the prevailing price on the days of purchase.

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