Chancery Royalty Agrees $20M Royalty Financing with Fulcrum Metals
Chancery Royalty has signed a non-binding term sheet to provide $20 million in royalty financing to Fulcrum Metals, supporting the latter's cyanide-free gold recovery project from historic mine tailings in Ontario. The agreement includes a 5% net smelter return (NSR) on gold production at Fulcrum’s Teck-Hughes site and an option for Fulcrum to repurchase part of this royalty for $10 million. In addition, Chancery has agreed to invest £200,000 in equity into Fulcrum Metals. The deal is conditional on pilot-scale testing success and final documentation approval. Both companies view the partnership as a strategic move toward sustainable growth and commercial production of gold from mine waste using environmentally friendly methods. Chancery Royalty sees this transaction as an opportunity to expand its exposure across Fulcrum’s Kirkland Lake portfolio, including rights for future royalties on other projects in the region.
Topics: Cyanide-Free Gold Recovery Mining Technology Royalty Financing