Canadian Mining Journal


PRECIOUS METALS: New royalty and streaming company Nomad starts trading

The South Arturo gold mine in Nevada, owned by Nevada Gold Mines and Premier Gold Mines. Credit: Premier Gold Mines

The South Arturo gold mine in Nevada, owned by Nevada Gold Mines and Premier Gold Mines. Credit: Premier Gold Mines

MONTREAL – Nomad Royalty, a new precious metals royalty and streaming company, will begin trading on the TSX on May 29, after completing a reverse takeover and acquiring the royalty portfolio of Yamana Gold and streaming assets from Orion Resource Partners.

In addition to the two vend-in transactions, Nomad also completed a private placement financing of $13.3 million.

Previously listed on the TSX Venture Exchange as Guerrero Resources, Nomad will trade on the main board under the symbol “NSR”. The company’s portfolio includes 10 royalty, streaming, and gold loan assets acquired from Orion Resource Partners for US$268 million and Yamana Gold for US$65 million in agreements announced earlier this year.

“The completion of the RTO has allowed us to launch Nomad Royalty Company Ltd., a new growth-oriented precious metal royalty and streaming company,” said Vincent Metcalfe, chairman and CEO of Nomad, in a release. “The Nomad team now looks forward to executing on the company’s business plan which aims to maximize shareholder returns by growing Nomad’s asset base, both organically and through accretive acquisitions of precious metal and other high-quality royalties, streams and similar interests.”

The company’s payment to Orion Group consisted of the issue of 396.5 million common shares at a price of 90¢ per share. In return for its assets, Yamana received 66.5 million common shares issued at 90¢ per share and US$10 million in cash. The gold miner will also receive a deferred payment of US$10 million that has a two-year term and bears interest at an annual rate of 3%. Yamana can choose to convert the deferred payment into common shares at a price of 90¢ each at any time.

Nomad now has 511 million shares outstanding with Orion Group holding 77.6% and Yamana Group holding 13%.

Nomad’s portfolio includes five cash-flowing assets and consists solely of gold and silver assets. Assets acquired from the Yamana deal include royalties from three mines in Brazil and Argentina: the Riacho dos Machados gold mine in Brazil, the Gualcamayo gold mine in Argentina and the Suruca project in Brazil, as well as a commercial production payment on Mineros‘ Gualcamayo mine deep carbonates project.

Assets acquired from Orion Group include streams from five mines in Africa, Australia and the U.S., as well as a gold loan to Premier Gold Mines. The streams include gold streams from the Bonikro mine in Côte d’Ivoire, the Blyvoor mine in South Africa; and silver streams from the South Arturo mine in Nevada, the Mercedes mine in Mexico, and the Woodlawn mine in Australia.

Gold-equivalent deliveries from Nomad’s portfolio in 2021 are estimated at 25,000 oz.

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