Royal Gold Closes Mount Miligan Deal
DENVER (AP) â¿¿ Royal Gold Inc. said Wednesday that it has finished buying Mount Miligan gold stream from Thompson Creek Metals Company Inc.
Royal Gold paid $226.5 million for the right to 25 percent of the payable gold from the copper-gold project in conjunction with the closing of Thompson Creek's acquisition of Terrane Metals Corp.
Royal Gold will pay Thompson $85 million more as the Mount Milligan project is built plus a fee for each payable ounce of gold delivered
The Mount Milligan project is under construction. Production is expected to start in 2013.Shares of Royal Gold rose 74 cents to $48.96 in afternoon trading.
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