Minerals 260 Agrees Increased Royalty, Share Sale to Franco-Nevada in $156 Million Deal
By Rhiannon Hoyle
Minerals 260 said it has agreed a 220 million Australian dollar (US$156 million) funding package with Franco-Nevada to accelerate the development of the Bullabulling gold project in Western Australia.
Under the deal, Franco-Nevada will pay A$170 million in exchange for increasing its total royalty over the project to 2.45%, Minerals 260 said. The Canadian royalties company currently holds a 1.00% royalty over some parts of the project.
Minerals 260 said Franco-Nevada will also invest A$50 million in its stock, buying a 4.9% stake for 45 Australian cents a share, a 7% premium to its last closing price.
The deal is "a major endorsement of the project and a milestone that will allow us to accelerate the project towards production, expand our exploration strategy and de-risk our funding pathway," said Managing Director Luke McFadyen.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
February 22, 2026 17:21 ET (22:21 GMT)
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