Royal Gold Completes Acquisition of Barrick Gold's Royalty Portfolio (PR Newswire)

Monday October 6, 3:50 pm ET DENVER, Oct. 6 /PRNewswire-FirstCall/ -- ), the leading precious metals royalty company, today announced the closing of its acquisition of the royalty portfolio from Barrick Gold Corporation ("Barrick"), effective October 1, 2008. Consideration to Barrick for the transaction was approximately $150 million net cash and a restructuring of Royal Gold 's royalty positions at Barrick's Cortez Pipeline Mining Complex ("Cortez") in Nevada, valued at $31.5 million. The cash portion of the purchase price for the transaction was paid from Royal Gold's cash on hand. The Company initially announced the execution of a definitive agreement to acquire Barrick Gold's royalty portfolio on July 31, 2008. The royalty portfolio consists of royalties on 72 properties, including 8 producing royalties, 2 development... [read full story]