Royal Gold acquires gold stream on Rubicon Minerals’ Phoenix Gold project

|About: Royal Gold, Inc. (RGLD)|By:, SA News Editor

Royal Gold (RGLD +3.9%) enters into a $75M gold stream transaction with Rubicon Minerals (RBY +3.4%) that will finance a significant portion of the construction of RBY's Phoenix Gold Project in Ontario.

RGLD will make advance deposit payments totaling $75M in five installments over the next 12 months toward the construction of Phoenix Gold; RBY will sell and deliver 6.3% of any gold produced from the project until 135K oz. have been delivered, and 3.15% thereafter.