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GoldMining buys 66.66% of net production royalty on Cachoeira gold project

GoldMining Inc. said Feb. 22 that its BRI Mineração Ltda. subsidiary agreed to acquire 66.66% of the existing 4% net production royalty at the Cachoeira gold project in Brazil.

In exchange, the company will pay US$133,320 and issue 698,161 common shares to the vendors.

GoldMining President Paulo Pereira said the deal extinguishes a portion of the current advance royalty payment and will make the project more attractive in the future when the deposit is developed or sold.