American City Business Journals
Denver company strikes $525 million deal at North America’s biggest gold mine
A Denver gold company spent $525 million buying royalties in the largest North American gold mining complex and expects to start seeing revenue from the purchase before winter, the company said Tuesday. The purchase entitles Royal Gold to a stream of royalty payments from the gold and minerals production on 300 square miles of what’s known as the Cortez Complex, and a neighboring area known as the Fourmile development project, which is not yet being mined. “The additional royalty interest at Cortez fits our strategy of gaining gold revenue exposure to world-class mining assets with high exploration and upside prospectivity operated by best-in-class companies,” said Bill Heissenbuttel, president and CEO of Royal Gold, in a press release.
