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View Full Version : Rubicon Minerals (RBY) $75M Investment on Its Phoenix Gold Project



HarryAloof
07-22-2014,
Rubicon Minerals Corp. (RBY)



RBY reported that it has entered into a $75.0 million gold streaming agreement with a subsidiary of Royal Gold Inc.


Under the terms of the agreement:


- Royal Gold will provide RBY with a deposit of $75.0 million to be used entirely towards the construction of the Phoenix Gold Project;


- RBY agrees to deliver 6.30% of the projected annual gold production from the Project until 135,000 ounces have been delivered and 3.15% thereafter;


- Royal Gold's cash purchase price per ounce will be 25% of the spot price(1) at the time of delivery.
(1) London PM gold fixing price for one ounce of refined gold on the date of delivery.


According to RBY, the deal terms validate the quality and the upside potential of its high-grade asset. The gold stream agreement covers the Phoenix Gold Project and certain ancillary claims.


RBY is an advanced stage gold development company, focused on responsible and environmentally sustainable development of its Phoenix Gold Project in Red Lake, Ontario.


More about Rubicon Minerals Corp. (RBY) at www.rubiconminerals.com.


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