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Osisko to acquire royalty on SolGold’s Cascabel project

Published by , Editorial Assistant
Global Mining Review,

Osisko Gold Royalties Ltd has announced that it has entered into a binding agreement with SolGold plc with respect to a US$50 million royalty financing to support the advancement of SolGold’s Cascabel copper-gold property in northeastern Ecuador.

As part of the transaction, Osisko will acquire a 0.6% net smelter return royalty (NSR) covering the entire 4979 ha. Cascabel property, including SolGold’s world-class Alpala project for which SolGold released the results of a pre-feasibility study in April of 2022.

Sandeep Singh, President and CEO of Osisko, commented:

“We are excited to partner with SolGold on one of the best copper-gold discoveries made over the last decade. We believe that Alpala has the potential to become a tier-1 asset with a much longer mine life than currently envisaged. SolGold was a first mover in Ecuador and we view the broader Cascabel property as having the geological potential to support significant further discoveries. Osisko’s investment in SolGold adds yet another high-quality royalty to our portfolio of peer-leading growth.”

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Gold mining news South American mining news