Franco-Nevada Corporation (FNV,FNV.TO) announced that, through a wholly-owned Australian subsidiary, it has reached an agreement to acquire a A$170 millionor approximately $120 million gross royalty from Minerals 260 Limited to support its development of the Bullabulling Gold Project located in Western Australia. Additionally, Franco-Nevada has agreed to subscribe for A$50 million or approximately $35 million of Minerals 260's ordinary shares.
The Royalty acquisition will be in addition to Franco-Nevada's historical 1.00% gross royalty over certain Project tenements, effectively increasing it to a 2.45% gross royalty over a Bullabulling land package, covering all Mineral Resources, plus an area of interest.
Franco-Nevada said it intends to finance the transactions from cash on hand. The Company had $0.9 billion in cash and cash equivalents and marketable securities and $1.9 billion in available capital as at September 30, 2025.
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