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.

Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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