Barrick Gold to sell royalty portfolio to Maverix Metals for $60 million

The payments include $6 million if the operator of the Eskay Creek project in British Columbia obtains all material permits necessary to commence construction of the mine within six years of closing; $2 million if Maverix receives cash payments from the Portfolio, excluding the Eskay Creek royalty, equal to or greater than $10 million within six years of closing; and a further $2 million if Maverix receives cash payments from the Portfolio, excluding the Eskay Creek royalty, equal to or greater than $20 million within six years of closing.

The transaction is targeted to close at the end of the third quarter of this year, Barrick said.