By Adriano Marchese


Franco-Nevada Corp. said Monday that its subsidiary acquired a gold stream related to a project in Brazil for $250 million from G Mining Ventures Corp.

The Canadian gold-focused royalty and streaming company said subsidiary Franco-Nevada (Barbados) Corp. acquired the gold stream with reference to production from the Tocantinzinho project in Brazil's Para State.

Franco-Nevada said first production is expected in the second half of 2024 with a forecasted contribution to the company of 24,500 gold-equivalent ounces a year over five years.

The company also has agreed to provide G Mining Ventures, a Canadian specialized mining consultancy firm, with a $75 million secured term loan and Franco-Nevada would also subscribe for $27.5 million of its common shares.

Franco-Nevada's shares on the New York Stock Exchange were up nearly 12% at $142 in premarket trade.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

07-18-22 0644ET