{"id":516998,"date":"2021-07-23T07:38:11","date_gmt":"2021-07-23T11:38:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\/"},"modified":"2021-07-23T07:38:11","modified_gmt":"2021-07-23T11:38:11","slug":"gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\/","title":{"rendered":"Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">VANCOUVER, BC<\/span>, <span class=\"xn-chron\">July 23, 2021<\/span> \/PRNewswire\/ &#8211; Gold Royalty Corp. (&#8220;<b>Gold Royalty<\/b>&#8221; or the &#8220;Company&#8221;) (NYSE American: GROY) is pleased to announce\u00a0that it has entered into a definitive agreement (the &#8220;<b>Agreement<\/b>&#8220;) with Monarch Mining Corporation (&#8220;<b><span class=\"xn-location\">Monarch<\/span><\/b>&#8220;) (TSX: GBAR) (OTCQX: GBARF) to acquire the following gold royalty interests (the &#8220;<b>Transaction<\/b>&#8220;):<\/p>\n<ul type=\"disc\">\n<li>a <span class=\"xn-money\">C$2.50<\/span> per tonne royalty on material processed through <span class=\"xn-location\">Monarch&#8217;s<\/span> Beacon mill originating from the Beaufor mine operations; <\/li>\n<li>a 2.5% net smelter return (&#8220;<b>NSR<\/b>&#8220;) royalty on each of <span class=\"xn-location\">Monarch&#8217;s<\/span> Croinor Gold, McKenzie Break and <span class=\"xn-location\">Swanson<\/span> properties, each located in <span class=\"xn-location\">Quebec, Canada<\/span>; and <\/li>\n<li>a 1% NSR on <span class=\"xn-location\">Monarch&#8217;s<\/span> Beaufor property, located in <span class=\"xn-location\">Quebec Canada<\/span> (the <b>&#8220;Beaufor NSR&#8221;) <\/b>held by Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec,<\/li>\n<\/ul>\n<p>for total consideration of <span class=\"xn-money\">C$15 million<\/span> (<span class=\"xn-money\">~US$12 million<\/span>), of which <span class=\"xn-money\">C$11.25 million<\/span> is payable on closing and <span class=\"xn-money\">C$3.75 million<\/span> will be paid upon the 6-month anniversary of closing. The transaction is subject to customary conditions and is expected to close in <span class=\"xn-chron\">August 2021<\/span>.<\/p>\n<p>\n        <span class=\"xn-person\">David Garofalo<\/span>, CEO, President, and Chairman of Gold Royalty stated: &#8220;We are excited to be partnering with <span class=\"xn-person\">Jean-Marc Lacoste<\/span> and the strong technical team at <span class=\"xn-location\">Monarch<\/span> to assist in the reopening of the Beaufor mine and to add additional high quality royalties to our portfolio. These assets will not only add potential near term cash flow to our Company, but also a strong pipeline of development and exploration projects located in <span class=\"xn-location\">Quebec<\/span>, a very favourable mining jurisdiction. The <span class=\"xn-location\">Monarch<\/span> royalties nicely complement the pro-forma portfolio of over 100 royalties in the Americas resulting from our\u00a0previously announced acquisition of Ely Gold Royalties Inc. (&#8220;ELY&#8221;) (TSX-V: ELY). <\/p>\n<p>It has been a very eventful start to our journey of growing into a leading royalty and streaming company. This announcement follows a string of exciting events for us and we are focused on driving continued success capitalizing on the experience and depth of our board and management team, strong balance sheet and capital markets presence.&#8221;<\/p>\n<p>\n        <span class=\"xn-person\">John Griffith<\/span>, Chief Development Officer of Gold Royalty, stated: &#8220;We are thrilled to be partnering with <span class=\"xn-location\">Monarch<\/span> as they advance the proposed reopening of the Beaufor mine, which has a consolidated historical production in excess of 1 million ounces of gold and has strong exploration potential. This is a compelling investment opportunity for Gold Royalty. The addition of the royalty on the Beacon mill will provide additional potential near-term cash flow as the mill restarts and through ramp-up of operations at the Beaufor mine. The added royalties on Croinor Gold, McKenzie Break and <span class=\"xn-location\">Swanson<\/span> properties provide longer term exposure to the prolific Abitibi greenstone belt and complete a very attractive portfolio of assets.&#8221;<\/p>\n<p>The royalty properties are located near strategic infrastructure in the Abitibi region of <span class=\"xn-location\">Quebec, Canada<\/span> and include: <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Beaufor Property \/ Beacon Mill<\/b> \u2013 The Beaufor mine and Beacon mill are located approximately 20 kilometers east of <span class=\"xn-location\">Val-d&#8217;Or, Quebec<\/span> and has historically produced 1.1 million ounces of gold at an average grade of 7.50 g\/t gold. In <span class=\"xn-chron\">June 2021<\/span>, <span class=\"xn-location\">Monarch<\/span> announced that it plans to restart the Beaufor Mine and the Beacon Mill by <span class=\"xn-chron\">June 2022<\/span>. The Beacon mill is a 750 tonne per day facility that is fully permitted to process up to 1.8 million tonnes of tailings. <span class=\"xn-location\">Monarch<\/span> has also announced an ongoing 42,500 drill program at the Beaufor property.<\/p>\n<\/li>\n<li>\n          <b>Croinor Property<\/b> \u2013 The Croinor Property is a fully permitted past producing property located 55 kilometers east of <span class=\"xn-location\">Val-d&#8217;Or, Quebec<\/span>. The project consists of a district-size land package of over 150 km<sup>2<\/sup>. The property is the subject of a <span class=\"xn-chron\">January 2018<\/span> prefeasibility study. <\/p>\n<\/li>\n<li>\n          <b>McKenzie Break<\/b> \u2013 The McKenzie Break property is an advanced exploration property located approximately 35 kilometers northeast of <span class=\"xn-location\">Val-d&#8217;Or, Quebec<\/span>. The property consists of a 70 km<sup>2<\/sup> land package. <\/p>\n<\/li>\n<li>\n          <b>Swanson Property<\/b> \u2013 The Swanson Property is an earlier stage exploration property located approximately 12 kilometers northeast of <span class=\"xn-location\">Barraute, Quebec<\/span>, covering 52.26 km<sup>2<\/sup>.<\/li>\n<\/ul>\n<p>\n        <b>About Gold Royalty Corp.<\/b>\n      <\/p>\n<p>Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to acquire royalties, streams and similar interests at varying stages of the mine life cycle to build a balanced portfolio offering near, medium and longer-term attractive returns for its investors. Gold Royalty&#8217;s diversified portfolio currently consists of net smelter return royalties ranging from 0.5% to 2.0% on 18 gold properties covering 12 projects located in the Americas. <\/p>\n<p>\n        <b>About Monarch Mining Corp.<\/b>\n      <\/p>\n<p>Monarch Mining Corporation (TSX: GBAR) is a fully integrated mining company that owns four advanced projects, including the fully permitted past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and <span class=\"xn-location\">Swanson<\/span> properties, all located near <span class=\"xn-location\">Monarch&#8217;s<\/span> wholly owned and fully permitted Beacon 750 tpd mill. <span class=\"xn-location\">Monarch<\/span> owns 28,702 hectares (287\u00a0km<sup>2<\/sup>) of mining assets in the prolific Abitibi mining camp.<\/p>\n<p>\n        <b>Qualified Person<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Alastair Still<\/span>, P.Geo., Director of Technical Services of the Company, is a &#8220;qualified person&#8221; as such term is defined under National Instrument 43-101, and has reviewed and approved the technical information disclosed in this news release.<\/p>\n<p>\n        <b>Technical Information<\/b>\n      <\/p>\n<p>The information herein regarding <span class=\"xn-location\">Monarch&#8217;s<\/span> properties has been derived from <span class=\"xn-location\">Monarch&#8217;s<\/span> Press Release date <span class=\"xn-chron\">June 3, 2021<\/span> and its <span class=\"xn-chron\">June 2021<\/span> Corporate Presentation. For information with respect to each project, please refer to such documents as well as the applicable technical reports and other disclosure documents of <span class=\"xn-location\">Monarch<\/span> that are available under its profile at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3237291-1&amp;h=2150274803&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener\">www.sedar.com<\/a>.<\/p>\n<p>\n        <b>Cautionary Statement on Forward-Looking Information:<\/b>\n      <\/p>\n<p>\n        <i>Certain of the information contained in this news release constitutes &#8216;forward-looking information&#8217; and &#8216;forward-looking statements&#8217; within the meaning of applicable Canadian and U.S. securities laws (&#8220;forward-looking statements&#8221;) and involve known and unknown risks, uncertainties and other factors that may cause Gold Royalty&#8217;s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Such forward-looking statements, including but not limited to\u00a0statements relating to: the proposed acquisitions announced herein; the Company&#8217;s proposed acquisition of ELY; the anticipated timing, benefits and effects of the completion thereof, the proposed advancement of properties underlying the Company&#8217;s royalty interests, including interests to be acquired; expectations regarding the properties underlying the royalty interests to be acquired; and the Company&#8217;s future growth plans,\u00a0involve risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among others, any inability to satisfy the conditions under the proposed acquisitions; obtaining required shareholder and regulatory approvals in connection with the proposed acquisition of ELY; any inability to satisfy the other conditions to such completion or to realize the benefits of the proposed transaction, \u00a0any inability of the operators of the properties underlying the Company&#8217;s royalty interests, including those to be acquired, to execute proposed plans for such properties and the ability of the Company to carry out its growth plans and other factors set forth in the Company&#8217;s publicly filed documents under its profiles at <\/i><br \/>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3237291-1&amp;h=2150274803&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener\">www.sedar.com<\/a><br \/>\n        <i>\u00a0and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3237291-1&amp;h=766847333&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=www.sec.gov\" rel=\"nofollow noopener\">www.sec.gov<\/a>. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.<\/i>\n      <\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO52602&amp;sd=2021-07-23\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation-301339980.html\">https:\/\/www.prnewswire.com\/news-releases\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation-301339980.html<\/a><\/p>\n<p>SOURCE  Gold Royalty Corp.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO52602&amp;Transmission_Id=202107230735PR_NEWS_USPR_____TO52602&amp;DateId=20210723\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire VANCOUVER, BC, July 23, 2021 \/PRNewswire\/ &#8211; Gold Royalty Corp. (&#8220;Gold Royalty&#8221; or the &#8220;Company&#8221;) (NYSE American: GROY) is pleased to announce\u00a0that it has entered into a definitive agreement (the &#8220;Agreement&#8220;) with Monarch Mining Corporation (&#8220;Monarch&#8220;) (TSX: GBAR) (OTCQX: GBARF) to acquire the following gold royalty interests (the &#8220;Transaction&#8220;): a C$2.50 per tonne royalty on material processed through Monarch&#8217;s Beacon mill originating from the Beaufor mine operations; a 2.5% net smelter return (&#8220;NSR&#8220;) royalty on each of Monarch&#8217;s Croinor Gold, McKenzie Break and Swanson properties, each located in Quebec, Canada; and a 1% NSR on Monarch&#8217;s Beaufor property, located in Quebec Canada (the &#8220;Beaufor NSR&#8221;) held by Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, for total consideration of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-516998","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire VANCOUVER, BC, July 23, 2021 \/PRNewswire\/ &#8211; Gold Royalty Corp. (&#8220;Gold Royalty&#8221; or the &#8220;Company&#8221;) (NYSE American: GROY) is pleased to announce\u00a0that it has entered into a definitive agreement (the &#8220;Agreement&#8220;) with Monarch Mining Corporation (&#8220;Monarch&#8220;) (TSX: GBAR) (OTCQX: GBARF) to acquire the following gold royalty interests (the &#8220;Transaction&#8220;): a C$2.50 per tonne royalty on material processed through Monarch&#8217;s Beacon mill originating from the Beaufor mine operations; a 2.5% net smelter return (&#8220;NSR&#8220;) royalty on each of Monarch&#8217;s Croinor Gold, McKenzie Break and Swanson properties, each located in Quebec, Canada; and a 1% NSR on Monarch&#8217;s Beaufor property, located in Quebec Canada (the &#8220;Beaufor NSR&#8221;) held by Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, for total consideration of &hellip; Continue reading &quot;Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-23T11:38:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO52602&amp;sd=2021-07-23\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation\",\"datePublished\":\"2021-07-23T11:38:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\\\/\"},\"wordCount\":1255,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=TO52602&amp;sd=2021-07-23\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\\\/\",\"name\":\"Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/gold-royalty-corp-to-acquire-five-gold-royalties-on-properties-managed-by-monarch-mining-corporation\/","og_locale":"en_US","og_type":"article","og_title":"Gold Royalty Corp. to Acquire Five Gold Royalties on Properties Managed by Monarch Mining Corporation - Market Newsdesk","og_description":"PR Newswire VANCOUVER, BC, July 23, 2021 \/PRNewswire\/ &#8211; Gold Royalty Corp. 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