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Argonaut Gold Inc. is pleased to announce that it has completed the Magino royalty transaction with a wholly-owned subsidiary of Franco-Nevada Corporation, as announced on November 2, 2023.
Pursuant to the transaction, the Company has completed the sale of an additional 1% net smelter return royalty (“NSR”) on its Magino Mine to Franco-Nevada for $28.0 million. Franco-Nevada now holds an aggregate 3.0% NSR on the Magino Mine. The closing of the sale of certain non-core royalty holdings in Canada and Mexico is expected to close subsequently, adding up to an additional $1.45 million to the sale proceeds, subject to satisfying certain conditions of closing.
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