Osisko Announces Royalty Transaction On The Namdini Gold Project In Ghana; Announces That It Has Acquired A 1% Net Smelter Return; Closed The Transaction With Savannah Mining, Acquiring A Direct Interest In 50% Of Savannah's 2% NSR Royalty For $35M
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Osisko Gold Royalties Ltd (OR: TSX & NYSE) has acquired a 1.0% net smelter return (NSR) royalty on the Namdini Gold Project in Ghana. The transaction was closed with Savannah Mining Limited, with Osisko acquiring a direct interest in 50% of Savannah's 2.0% NSR royalty for a total consideration of US$35 million. The Namdini project, controlled and operated by Shandong Gold Co Ltd, is expected to become one of Western Africa's significant producing mines with first gold production expected in late 2024.
October 30, 2023 | 12:18 pm
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Osisko Gold Royalties has acquired a 1% NSR royalty on the Namdini Gold Project in Ghana, which is expected to contribute to the company's near-term cash flows and growth profile.
The acquisition of the NSR royalty on the Namdini Gold Project, which is expected to become a significant producing mine, is likely to have a positive impact on Osisko's near-term cash flows and growth profile. This could potentially lead to a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100