https://www.miningweekly.com
Building|Construction|Gold|PROJECT|Projects|Resources
Building|Construction|Gold|PROJECT|Projects|Resources
building|construction|gold|project|projects|resources

Equinox and Sandstorm launch new royalty company

27th May 2022

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Toronto-listed companies Equinox Gold and Sandstorm Gold on Thursday announced the creation of a new diversified metals royalty company, with assets in the Americas and Europe­.

Equinox Gold and Sandstorm have entered into definitive purchase and sales agreements with Rosedale Resources, whereby Rosedale will acquire a portfolio of royalties from Equinox Gold for $28.4-million in shares of Rosedale and $32.9-million in promissory notes convertible into common shares of Rosedale.

Upon closing, Rosedale would change its name to Sandbox Royalties, led by president and CEO Greg Smith, chairperson Marcel de Groot, CFO Victorian McMillan and general counsel Craig Rollins.

Smith would transition from Equinox Gold president to the new role at Sandbox and would continue to represent Equinox Gold on the boards of its previous spin-out companies, Solaris Resources and i-80 Gold.

“Greg Smith will be an exceptional leader for Sandbox Royalties. His industry knowledge and corporate development skills have been integral to Equinox Gold’s growth and success over the last five years,” said Equinox CEO Christian Milau.

Ross Beaty, Equinox Gold chairperson, said that Smith would focus on building Sandbox, while Equinox would slow its merger and acquisition activities to focus on developing its internal growth pipeline, including the new Santa Luz gold mine, in Brazil, and the large expansion projects at Los Filos, Aurizona and Castle Mountain, as well as the Greenstone construction project.

Post-completion of the transaction, Sandbox intends to seek a public listing on a Canadian stock exchange. Listing of Sandbox is subject to approval of the applicable stock exchange. 

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer
Gold, hydrogen, mining boost make headlines
Gold, hydrogen, mining boost make headlines
15th March 2024
Magazine round up | 15 March 2024
Magazine round up | 15 March 2024
15th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.214 0.253s - 89pq - 2rq
Subscribe Now