CANBERA (dpa-AFX) - Franco-Nevada Corp. (FNV, FNV.TO) announced that, through its wholly-owned Australian subsidiary, it has entered into an agreement to acquire a A$170 million or approximately US$122 million gross royalty from Minerals 260 Limited. The transaction is designed to further support the development of the Bullabulling Gold Project. In addition, Franco-Nevada has agreed to subscribe for A$30 million or approximately US$22 million of Minerals 260's ordinary shares as a lead order in a future equity raise.
The new royalty acquisition builds upon Franco-Nevada's existing 2.45% gross royalty interest in Bullabulling, increasing its interest to 3.90% and expanding both the area of interest and the royalty profile. The equity investment also strengthens Franco-Nevada's ownership position in Minerals 260.
Together, these transactions raise Franco-Nevada's aggregate financing support for Minerals 260's Bullabulling development to A$420 million or approximately US$300 million). This follows the A$220 million or approximately US$155 million financing package provided in February 2026, which has already driven significant resource growth, development progress, and appreciation in Minerals 260's share price.
Franco-Nevada intends to fund the transactions entirely from cash on hand. As of June 30, 2026, the Company reported US$1.0 billion in cash and US$4.3 billion in available capital.
FNV closed Friday's regular trading at $266.00 up $5.34 or 2.05%.
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