A Premier Partnership, Not A Takeover Abraham Drost on New Royalties and Sandstorm’s Majority Share
Kevin Michael Grace March 6, 2013 - Premier Royalty Inc T.NSR announced March 1 the closing of its purchase from Yamana Gold Inc T.YRI of a portfolio of third-party royalties. The purchase comprises a 1.5% net smelter return (NSR) on the San Andres deposit in Honduras and the Sao Vicente and Sao Francisco Mines in Brazil owned and operated by Aura Minerals Inc T.ORA, a 2% NSR royalty on certain mining claims and adjacent lands containing the Cerro Prieto deposit owned and operated by Oroco Resource Corp V.OCO and a $3-per-ounce royalty on certain mining claims and adjacent lands containing the Don Nicholas deposit owned and operated by Minera IRL Ltd T.IRL.
The price of these purchases is $9 million in cash, 387,096 common shares of Premier Royalty and warrants to purchase an aggregate of up to 500,000 common shares of Premier Royalty at an exercise price of $2.50 per share.
President/CEO Abraham Drost spoke to Kevin Michael Grace March 1 - read the interview here.