Sale of royalty portfolio to Maverix
Monday, 5 December 2016
Maverix has agreed to acquire a portfolio of eleven existing producing and non-producing royalties from Gold Fields in return for 42.85 million common shares and 10 million common share purchase warrants of Maverix. Upon completion of the transaction and a concurrent Maverix financing transaction, Gold Fields will own approximately 32% of the issued and outstanding common shares of Maverix.
This transaction is in line with our strategy of portfolio management through non-core asset divestments. We believe that the transaction with Maverix and its dynamic team provides the ideal platform to unlock the embedded value in our royalty portfolio through longer term exposure to the listed royalty and streaming sector, which has historically traded at premium market valuation multiples.
Please use the following link to access the list of royalty agreements included in the Maverix transaction