Latest Breaking News On - Participating debentures - Page 1 : comparemela.com
On May 13, we issued an updated research report on Franco-Nevada Corp FNV. The company is well poised for growth backed by its healthy and diversified portfolio of streaming and royalty agreements, and a debt-free balance sheet. The company continues to deliver improved margins, aided by its continued focus on cost management. However, uncertainty regarding the pandemic’s impact on the company’s mining operators and decline in gold prices remain.
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TORONTO, April 19, 2021 /PRNewswire/ - Franco-Nevada has acquired 14.7% of Vale s outstanding Participating Debentures ( Royalty Debentures ) from the Brazilian Development Bank ( BNDES ) and the Government of Brazil for $538M. The Royalty Debentures provide holders with life of mine net sales royalties on Vale s Northern and Southeastern Iron Ore Systems and on certain copper and gold operations (together, the Royalty ). This transaction provides royalty exposure to some of the world s largest and most profitable integrated iron ore mines with reserve weighted mine lives of 30 years and potential for multiple additional decades through reserve growth. The Royalty covers a total of 15.6 thousand square kilometers of mineral properties held by Vale in Brazil, also offering exposure to a number of development properties. The Royalty currently generates an annualized pre-tax cash yield of 10% based on acquisition cost and the most recent semi-a
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