PROJECT FINANCE

Westhaven in $10.75 mil deal with Franco-Nevada

Westhaven Gold has struck a deal with Franco-Nevada Corporation which will see it sell a 2$ net smelter return royalty for US$6 million to all of its claims across the Spence Bridge Gold Belt in Southwestern British Columbia, Canada.

 Westhaven's Shovelnose

Westhaven's Shovelnose

Westhaven has also agreed to sell its Franco-Nevada the Talisker Resources NSR for $750,000, which was originally granted to Westhaven by Sable Resources.

And Franco-Nevada has agreed to subscribe for 2.5 million shares in Westhaven at a price of C$0.40 for C$1 million.

"Westhaven's exploration activities across its projects are now fully financed until 2024," Westhaven's president and CEO Gareth Thomas said.

The company has the option to buy-down 0.5% of the Spences Bridge Gold Belt NSR for $3 million for a period of five years.

Whitehaven its undertaking a drill campaign at its Shovelnose gold property in British Columbia. It has an indicated resource of 10.6 million tones grading 2.32 grames per tonne for 791,000oz of gold and 3.9Moz of silver.

Westhaven has a share price of C$0.42 (US$0.32) and market capitalisation of C$46.85 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Q1 Mining Equities Report 2023

Discover new trends in mining investment with insights into capital raisings and share price performance of more than 2,500 companies.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.