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Metalla Royalty & Streaming adds royalties on Barrick Gold’s Lama project
The Fly

Metalla Royalty & Streaming adds royalties on Barrick Gold’s Lama project

Metalla Royalty & Streaming (MTA) announces it has entered into a Royalty Purchase Agreement, RPA, with an arm’s length third-party dated December 9, 2022, to acquire an existing 2.5% to 3.75% gross value return royalty on gold and silver, and a 0.25% to 3.0% net smelter return royalty on copper and other non-precious minerals, extracted from the majority of the Lama project owned by Barrick Gold (GOLD) for total consideration of $7.5M in common shares and cash. Brett Heath, President & CEO of Metalla, commented, "The Lama project is part of one of the largest gold deposits in the world currently being contemplated by Barrick as a standalone operation. Our royalty will provide Metalla shareholders with outstanding exposure to one of the most significant geological gold bearing trends with a substantial amount of near-term growth, exploration upside, and first in class operator." Mr. Heath continued "We are excited by the $75 million being spent by Barrick on defining resources on the Lama extensions most of which is covered by the royalty area. This has resulted in some exciting drill results with a new discovery of a gold-copper porphyry style mineralization at depth. Barrick has initiated a study to evaluate the development of a standalone operation at Lama, on the Argentinean side, expected to be completed in Q2 2023, and provide a development decision for the Lama project in 2024."

Published first on TheFly

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