Prnewswire·2026-02-22 22:36Core Viewpoint - Franco-Nevada Corporation has announced a significant financing package of A$220 million (approximately $155 million) with Minerals 260 to support the development of the Bullabulling Gold Project in Western Australia, marking Franco-Nevada's largest royalty acquisition in Australia [1] Group 1: Transaction Details - Franco-Nevada will acquire a gross royalty of A$170 million (approximately $120 million) from Minerals 260, increasing its total gross royalty on the Bullabulling land package to 2.45% [1] - The financing package includes a subscription for A$50 million (approximately $35 million) of Minerals 260's ordinary shares, resulting in Franco-Nevada owning approximately 4.9% of Minerals 260's issued shares [1][2] - The initial A$75 million royalty funding is expected to occur around February 26, 2026, with a second A$95 million funding contingent on obtaining FIRB approval [2] Group 2: Project Overview - The Bullabulling Gold Project is located approximately 65 km from Kalgoorlie, Western Australia, with existing resources of 3.0 million ounces (Moz) of Indicated Resources and 1.5 Moz of Inferred Resources [1] - The project has significant exploration potential, with a large resource base covering multiple deposits and a recent drilling campaign that nearly doubled the mineral resources since 2011 [1] - A pre-feasibility study is targeted for completion by mid-2026, with a final investment decision expected in early 2027, and first gold production potentially as soon as the second half of 2028 [1] Group 3: Management and Expertise - Minerals 260 is led by experienced management, including Chairman Tim Goyder, who has over 40 years in the resource industry, and CEO Luke McFadyen, who has over 15 years of mining experience [1] - The management team's expertise is expected to facilitate the rapid advancement of the Bullabulling project and unlock value for shareholders [1]