Metalla Royalty Acquires Royalty At IAMGOLD Cote Gold Project

Metalla Royalty & Streaming (TSXV: MTA) this morning announced that it has acquired another net smelter return royalty. The latest royalty to be added to the firms portfolio is related to IAMGOLD Corp’s (TSX: IMG) Cote Gold Project, as well as the Gosselin project, the latter of which is partially owned by Sumitomo Metal Mining Co.

The royalty itself consists of a 1.35% NSR that is applicable to a portion of the Cote Gold Project, and all of the Gosselin gold project. The Cote project is expected to begin producing in the near term, and is expected to be one of the largest gold mines within Canada. Commercial production is anticipated to begin in the second half of 2023. The NSR applies to a portion of the northern and north-eastern portion of the pit.

The Gosselin NSR meanwhile is a bet on the Gosselin Zone, which is expected to have three to five million ounces of gold, just 1.5 kilometres north of the Cote deposit. The zone is expected to enhance production at Cote in the future.

Total consideration for the royalty amounted to $7.5 million paid in cash. The transaction was funded by an ongoing at-the-market financing, which has raised gross proceeds of US$5.1 million, enabling the transaction to be fully funded.

Metalla Royalty & Streaming last traded at $12.60 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Trillium Gold Intersects 129.79 g/t Gold Over 1.30 Metres At Rivard

Trillium Gold Mines (TSXV: TGM) this morning reported the three latest drill results from its...

Tuesday, June 29, 2021, 11:47:00 AM

Condor Gold Begins 1,700 Meter Drill Program At The La India Open Pit

Condor Gold (TSX: COG) today announced that the company has commenced a 1,700 meter infill...

Tuesday, June 15, 2021, 07:58:51 AM

Condor Gold Drills 6.25 g/t Gold Over 8.1 Metres True Width At La India Starter Pits

Condor Gold (TSX: COG) today reported that all results have been received for forty-five diamond...

Monday, July 5, 2021, 10:41:00 AM

Probe Metals Announces New Gold Discoveries At Val-d’Or East Property

Probe Metals (TSXV: PRB) this morning announced that it has made new gold discoveries at...

Tuesday, June 16, 2020, 09:21:02 AM

Prime Meridian Resources Stakes Additional Property In Red Lake Region

Prime Meridian Resources (TSXV: PMR) is increasing its portfolio of claims in the Red Lake...

Wednesday, September 22, 2021, 09:01:15 AM