Net proceeds will be used to fund exploration and development activities at the company's flagship AntaKori project.

Silver is expected to begin the next decade newly burnished, through a combination of higher industrial and investment demand, and tightened supply owing to mine production issues and output cuts.

EMX Royalty said acquiring a 19.9% interest in the property is part of its plan to focus on near-term cash-flowing assets.

Shares of Golden Minerals rose by more than 5% at Friday's open.

Construction of Camino Rojo is expected to start during the first half of 2020.

The company says results from a recent drilling campaign highlight the potential for a robust, near-surface gold system.