Lake Shore Gold Most Active on TSX, Enters into Agreement with Franco-Nevada for $50 Million Royalty and Equity Investment

By
A A A

Lake Shore Gold Corp. (LSG.TO)shares are up 18.12% today, with more than 6,5 million shares changing hands.

The company announced yesterday that it has entered into an agreement with Franco-Nevada Corporation (FNV.TO) through which Franco-Nevada will pay to the Company US$35 million for a 2.25% net smelter return ( NSR ) royalty on the sale of minerals from LSG's Timmins West Complex. In addition, Franco-Nevada will pay C$15 million to acquire 10,050,591 LSG common shares on a private placement basis, with the purchase price per share of C$1.49 representing a 5% premium to the 10-day volume weighted average price.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: NSR

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

84,725,997
  • $6.69 ▼ 5.11%
68,180,500
  • $3.38 ▼ 1.74%
52,748,572
  • $99.02 ▲ 1.38%
40,996,811
  • $74.92 ▼ 0.36%
37,831,986
  • $15.50 ▼ 0.58%
34,013,720
  • $31.98 ▼ 4.31%
32,417,159
  • $25.59 ▼ 0.78%
31,985,971
  • $54.87 ▲ 1.20%
As of 7/28/2014, 04:05 PM