Royal Gold Says Acquisition Of Royalties Of Serrote And Santa Rita Mines Became Impossible

(RTTNews) - Royal Gold, Inc. (RGLD), a company managing precious metal streams, royalties, and related interests, said Friday that its acquisition of royalty interests on the Serrote and Santa Rita mines has become impossible now.

This transaction was conditional upon ACG Acquisition Company's buying of entities that own the Serrote and Santa Rita mines in Brazil, from funds advised by Appian Capital Advisory. But this deal has been terminated now.

Bill Heissenbuttel, Royal Gold's CEO commented,"This transaction was a good opportunity for Royal Gold, but events beyond our control preclude us from completing the acquisition of the royalties."

Currently, the shares of Royal Gold are trading at $108.05 up 1.21% on Nasdaq.