Royal Gold borrows $500 million under revolver for acquisition

By Sara Rosenberg

New York, Aug. 2 – Royal Gold Inc. drew $500 million under its previously undrawn $1 billion revolving credit facility to help fund its acquisition of a sliding-scale gross royalty on an area including the Cortez mine operational area and the Fourmile development project in Nevada, according to a news release.

The company expects to repay the outstanding revolver debt from future cash flow.

Royal Gold is a Denver-based precious metals stream and royalty company.

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