Royal Gold Completes Major Stake Sale to Tether Investments and Nemesia in Strategic Portfolio Restructuring

Royal Gold, Inc. (RGLD) has announced a significant transaction involving its wholly-owned subsidiary, International Royalty Corporation, striking a deal with Tether Investments, S.A. de C.V. and Nemesia S.à.r.l to divest Versamet holdings. The transaction sees Tether Investments acquiring 11.8 million shares while Nemesia receives an equal number of shares at C$8.75 per share, translating to approximately C$207 million in total proceeds.

This strategic divestment has garnered support from Versamet's Board of Directors and aligns with Royal Gold's broader initiative to streamline its investment portfolio. According to Bill Heissenbuttel, President and CEO of Royal Gold, "The disposition of the Versamet shares is in line with our stated objective of simplifying the Sandstorm portfolio." The executive emphasized that capital raised from the sale will be channeled toward debt repayment, particularly addressing obligations incurred from the company's recent acquisitions of Sandstorm and Kansanshi assets.

Following the completion of these sales, Royal Gold will maintain a substantial stake in Versamet through beneficial ownership and control mechanisms. The company will hold approximately 23.7 million shares, representing roughly 25% of Versamet's common shares outstanding. This continued presence signals Royal Gold's confidence in Versamet's long-term prospects while allowing the company to optimize its financial position and reduce leverage from recent strategic acquisitions.