Versamet Royalties Finalizes Cornerstone Eskay Creek Gold Stream Acquisition, Funds with $400M Credit Facility
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Versamet Royalties Corporation has completed the acquisition of a 3.52% gold stream on the Eskay Creek gold-silver project, a significant transaction valued at $340 million in cash and 2,054,906 common shares. This follows the definitive agreement announced on April 6, 2026. The upfront cash payment was funded through an amended and restated credit facility totaling $400 million, comprising a $250 million revolving facility and a new $150 million term facility. This acquisition is highly material, adding an uncapped, long-life gold stream expected to contribute over 300,000 ounces of gold annually in its initial five years, substantially boosting Versamet's future revenue and asset base. Investors will now monitor the integration of this stream and the operational performance of the Eskay Creek project.
At the time of this announcement, VMET was trading at $12.05 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $815.1M. The 52-week trading range was $9.10 to $12.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: TMX Newsfile.