Summit Royalty Acquires Iamgold's Stream and Royalty Portfolio for .5 Million
In a significant move on the financial landscape, Summit Royalty has officially set the stage for growth by acquiring a robust portfolio of royalties and streams from Iamgold for a substantial .5 million. This strategic acquisition, confirmed on June 18, 2025, includes a combination of million in cash and .5 million in shares, positioning Summit Royalty as a formidable player in the precious metals sector.
One standout element of this deal is the 50% silver stream related to Orezone Gold’s Bombore Mine located in Burkina Faso. This asset is particularly promising, providing investors with a direct link to a stable income source that will fuel further expansion and development initiatives.
In addition to the silver stream, Summit Royalty is set to benefit from several lucrative royalties, including a notable per ounce production royalty on the first 250,000 ounces of gold sold from the Pitangui project, which is under the ownership of Jaguar Mining in Brazil. This is a groundbreaking venture for both companies as they explore the gold-dominated territories of South America.
Furthermore, the acquisition incorporates a 0.5% net smelter royalty (NSR) on Denarius Metals’ Zancudo Mine in Colombia, along with a 3.0% NSR royalty on Lavras Gold’s Lavras do Sul project in Brazil. These royalties not only diversify Summit’s revenue streams but also enhance their portfolio with mineral-rich assets across various countries in South America.
Drew Clark, the founder and president of Summit Royalty, expressed optimism about this acquisition, stating, “Anchored by a cash-flowing silver stream on the Bombore mine operated by Orezone Gold and coupled with a suite of royalties with definitive timelines to production, we’re poised to become the preeminent cash flowing junior royalty and streaming company focused on precious metals.”
As the precious metals market continues to evolve, this acquisition represents a strategic leap for Summit Royalty, emphasizing their commitment to growth and sustainability in the mining sector. This move not only positions them competitively within the industry but also signifies a broader positive trend towards collaboration and investment within mining operations across Africa and South America.
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Tags: #WorldNews #BusinessNews #Africa #BurkinaFaso #Brazil #Colombia
