Gold Royalty acquires royalty on IAMGOLD’s Côté Gold Project

Gold Royalty Corp. said that it has closed the acquisition of an existing net smelter return royalty of 0.75% from an existing royalty holder on a part of the Côté Gold Project in Ontario, Canada, owned by IAMGOLD Corporation, as the operator, and Sumitomo Metal Mining.

As per the terms of the deal, Gold Royalty paid $15.875 million as total consideration at closing. The consideration is made up of $15 million in cash and the remainder in the form of 207,449 shares of Gold Royalty.

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