Wire
Versamet Royalties Completes Eskay Creek Gold Stream Acquisition
Versamet Royalties (VMET) said Friday it completed the acquisition of a 3.52% gold stream on the Eskay Creek gold-silver project in Canada for $340 million in cash and about 2.05 million common shares issued to sellers.The company acquired the stream from fund entities managed by Orion Resource Partners and affiliates of Blackstone (BX), with the deal partly financed through a $400 million amended credit facility.Eskay is projected to produce an average of over 300,000 ounces of gold per year in its first five years, Versamet said.Shares of Versamet were down nearly 4% in Friday trading.Price: $12.09, Change: $-0.32, Percent Change: -2.57%
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