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Royal Gold enters into $175 million agreement with New Gold

from Nasdaq

Royal Gold's RGLD fully-owned subsidiary RGLD Gold AG has entered into a $175 million purchase and sale agreement with New Gold for a percentage of the gold and silver produced from the Rainy River Project in Ontario. Per the agreement, Royal Gold will make two advance payments of $100 million, at closing, and $75 million, once capital spending on the project is 60 per cent complete, to New Gold. more

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