OTCQX:NSRXF - Post Discussion
Post by
Betteryear2 on Dec 08, 2021 7:48am
Acquires $75 Million Gold Stream on Ivanhoe Mines' Project
This news release constitutes a "designated news release" for the purposes of Nomad's prospectus supplement dated June 22, 2021, to its short form base shelf prospectus dated September 30, 2020
MONTREAL, Dec. 8, 2021 /CNW Telbec/ - Nomad Royalty Company Ltd. ("Nomad" or the "Company") (TSX: NSR) (NYSE: NSR) is pleased to announce that it has entered into a gold purchase agreement with Ivanplats (Pty) Ltd. ("Ivanplats" or "Seller"), which is 64% owned by Ivanhoe Mines Ltd. ("Ivanhoe" or "Seller"), and is the owner of the tier-one Platreef palladium-rhodium-platinum-nickel-copper-gold project located in Limpopo, South Africa ("Platreef"). Nomad will provide $75 million in gold stream funding to Ivanplats as part of a $200 million gold stream ("Gold Stream") co-investment with Orion Mine Finance ("Orion"). Orion will also separately provide $100 million under a Palladium and Platinum stream for total stream funding of $300 million to Ivanplats to fund a large portion of the phase 1 capital costs for Platreef, with initial production scheduled in 2024. All figures quoted herein are in United States dollars unless otherwise indicated.
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