The alleged deals involve Glencore's Collahausi mine in Chile, as well as Antamina and Antapaccay copper mines in Peru.
Franco-Nevada Corporation Mining News
Vale (NYSE:VALE), Teck (NYSE:TCK) and Freeport-McMoRan (NYSE:FCX) are some of the names analysts are throwing into the pot as the next likely bidders for Inmet MiningCorp. (TSX:IMN), which owns the world’s second-biggest undeveloped copper deposit, in Panama.
The World Gold Council (WGC) published Thursday the anticipated conflict-free standard, which aims to restrict production of the yellow precious metal in places where it already fuels or may trigger conflicts and human rights violations.
Canada’s Franco-Nevada has committed a whopping $1 billion to support the development costs of Inmet's massive Cobre Panama copper project in exchange for a future precious metals stream.
Franco-Nevada Corp. had a good quarter, more than doubling profits and hiking revenues by 44%.
Gold royalty companies provide upfront capital to developing gold mining producers to help with the expenditures of bringing the mine into production.
Franco-Nevada Corporation, the biggest gold royalty and streaming company, swung $105.4-million into the red for the fourth quarter, after the Toronto-based firm suffered $169.9-million in impairment charges.
Lake Shore Gold, an aspiring Canadian mid-tier gold producer, has joined forces with Franco-Nevada Corporation in a $50 million royalty and equity agreement. Both companies are listed on the Toronto and New York exchanges.
Franco-Nevada Corporation (the "Company") (NYSE: FNV) (TSX: FNV) announced today the closing of its previously announced public offering (the "Offering") of 9,200,000 common shares ("Offered Shares"), including the full exercise of the over-allotment option, at a price of C$42.50 per Offered Share for aggregate gross proceeds to the Company of C$391,000,000.
Franco-Nevada Corp, the royalty company, has announced a C$340 million (US$325 million) bought deal financing to fund acquisitions and working capital.
Franco Nevada reported an adjusted net income of US$21.4 million or 18-cents per share for the first quarter, a 157% increase over the adjusted net income of US$8.3 million or 7-cents per share for the first-quarter 2010. Net income for the first quarter of 2011 was $21.2 million or 18-cents per share, which included a $5.6 million gain, $6.5 million in forex losses and $1.7 million in losses recorded from the equity accounting of Franco's investment in Gold Wheaton prior to the acquisition, which closed on March 14, 201
Franco-Nevada forecasts revenue this year to be between US$325 million to $350 million this year, using consensus commodity price assumptions of US$1,400 gold, $1,750 platinum, $575 palladium and $80 oil. However, the company warned its expenses will be significantly higher in the first quarter of the year, as transaction costs associated with the acquisition of Gold Wheaton will be expensed under International Financial Reporting Standards (IFRS).