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First Mining sells noncore royalty portfolio

22nd February 2023

By: Creamer Media Reporter

     

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Toronto-listed First Mining has wrapped up the sale of its noncore royalty portfolio to Elemental Altus Royalties for C$6.7-million.

The company sold 19 royalties across four countries, including a 2% net smelter return royalty (NSR) on the Pickle Crow project, in Ontario, a 1.5% NSR on Hope Brook, in Newfoundland, and a number of other royalties on exploration and development projects.

Elemental Altus is an income-generating precious metals royalty company with 11 producing royalties and a diversified portfolio of pre-production and discovery stage assets, and its common shares trade on the TSX-V.

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Edited by Creamer Media Reporter

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