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Maverix Provides Update on Newmont Royalty Portfolio
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VANCOUVER, BC, Dec. 21, 2020 /PRNewswire/ - Maverix Metals Inc. (the Company or Maverix ) (NYSE American: MMX) (TSX: MMX) is pleased to provide an update on certain royalties included in the Newmont Corporation ( Newmont ) royalty portfolio that the Company acquired on October 29, 2020.
Rights of First Refusal
Certain royalties included in the Newmont royalty portfolio were subject to a right of first refusal ( ROFR ) in favour of the underlying asset owner.
Camino Rojo
Orla Mining Ltd. ( Orla ) has elected not to exercise its ROFR on the 2.0% net smelter return ( NSR ) royalty on oxide and transitional ore production from the Camino Rojo project located in Zacatecas, Mexico. On November 26, 2020, Orla provided a construction update on the project announcing that all permit conditions have been satisfied for site activities to begin. Earth moving activities have s