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Summit Royalties acquires Star Royalties and expands portfolio to 48 royalty and streaming agreements

Summit Royalties has completed the acquisition of Star Royalties, acquiring all outstanding common shares of Star in exchange for 28,944,162 Summit shares at an exchange ratio of 0.36 Summit shares per Star share. The merger increases Summit’s portfolio to 48 royalty and streaming agreements, including four producing projects and two projects expected to begin construction in 2026. Summit appointed three former Star executives to key positions (Kevin MacLean as CIO, Kathy Lai as VP Finance, Jay Layman to the board). The stock is trading at $0.13 (market capitalization $59 million) and gained about 14% after the announcement; an analysis by InvestingPro rates the company as overvalued at the current price. » Plus sur de.investing.com
Summit Royalties acquires 1% NSR on Newmont's Saddle North for C$5m

Summit Royalties has taken a 1.0% net smelter return (NSR) royalty on Newmont’s Saddle North gold-copper deposit in exchange for issuing 2,832,861 common shares valued at C$5 million. The transaction remains subject to customary closing conditions and regulatory approvals; Newmont can repurchase 50% of the NSR for C$750,000 within five years. Saddle North is located in the Golden Triangle (BC) and has indicated resources of 3.47 million ounces of gold and 1.81 billion pounds of copper, plus inferred resources of 5.46 million ounces of gold and 2.98 billion pounds of copper. » Plus sur de.investing.com