Gold Royalty Corp has expanded its exposure to the REN project in Nevada by acquiring an additional 0.1875% net smelter return (NSR) royalty interest for US$6.25 million. This transaction increases the company's total indirect NSR over the project to 1.6875%, alongside an existing 3.5% Net Profit Interest. The move strengthens Gold Royalty's position in a development-stage asset expected to ramp up to full production by year-end 2027.

The REN project is owned by Nevada Gold Mines, a joint venture between Barrick Mining Corp., which holds a 61.5% stake, and Newmont Corp., which holds 38.5%. Barrick Mining Corp. operates the project and has forecasted an average annual gold production of 140,000 ounces once full capacity is reached. First production is anticipated in 2026.

Transaction Details

The acquisition was completed for total cash consideration of US$6.25 million. The additional royalty interest is held on the same terms as the existing 1.50% indirect NSR previously held by Gold Royalty Corp.

Project Outlook

Barrick Mining Corp. has outlined a development timeline targeting first production at the REN project in 2026. The operator expects the mine to ramp up to full production by the end of 2027. The forecasted average annual gold production at full capacity is 140,000 ounces.