Summit Royalties Announces Agreement to Acquire Royalty on Newmont's Saddle North Deposit [Yahoo! Finance]
Newmont Corporation (NEM)
Last newmont corporation earnings: 2/20 06:55 am
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Source: Yahoo! Finance
pleased to announce that it has entered into an agreement to acquire a 1.0% net smelter return ("NSR") royalty on the Saddle North deposit ("Saddle North") owned by Newmont Corporation ("Newmont") for consideration of C$5 million paid in shares of Summit ("Common Shares"). The acquisition is subject to conditions precedent which are customary for a transaction of this nature. Subject to satisfaction of conditions precedents, Summit expects to complete the acquisition in the near future. "We are excited to announce this proposed acquisition of a large, high-quality royalty on Newmont's Saddle North project," commented Drew Clark, President and CEO of Summit. "The acquisition of the Saddle North royalty is highly accretive on a net asset value per share basis and provides exposure to a large gold-copper deposit under the stewardship of the world's largest gold producer. Having royalty coverage on a porphyry target that boasts nearly 9 Moz of gold and 4.8 Blbs of copper supports our ma
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NEM
Earnings
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NEM
Sec Filings
- 3/4/26 - Form 4
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- 3/3/26 - Form 4
- NEM's page on the SEC website