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Metalla adds 'the most coveted gold mine in the world' to its portfolio in new royalty agreement

Metalla Royalty & Streaming Ltd (NYSEAMERICAN:MTA) (CVE:MTA) CEO Brett Heath tells Proactive the company has boosted its portfolio with the acquisition of a 2.5% royalty on Kirkland Lake Gold Ltd’s (TSE:KL) (NYSE:KL) Fosterville gold mine in Australia.

Heath says Fosterville produced 619,000 ounces in 2019 at an average grade of 39.6 grams per ton. In 2020, Kirkland Lake is anticipating production of up to 610,000 gold ounces at an operating cost of up to US$150 per ounce. What's more, Heath says Metalla increased its loan facility to over C$32 million to help fund the acquisition of new royalties and streams.

Quick facts: Metalla Royalty & Streaming Ltd

Price: 12.26 CAD

TSX-V:MTA
Market: TSX-V
Market Cap: $480.77 m
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Metalla Royalty & Streaming signs agreement with Morgan Stanley for royalty...

Metalla Royalty & Streaming Ltd (NYSE American: MTA-CVE: TSXV: MTA) President and CEO Brett Heath joined Steve Darling from Proactive with news Metalla has entered into a purchase and sale agreement with Morgan Stanley Capital Group to acquire an existing 27.5% price participation royalty...

on 09/21/2020

2 min read