We advised Nova Royalty Corp on the acquisition of royalty interests in the Taca Taca Project

Marval O’Farrell Mairal advised Nova Royalty Corp on the acquisition of a combined, existing 0.24% net smelter returns royalty on the Taca Taca copper-gold-molybdenum project in Salta, Argentina for approximately USD 12.75 million in cash and ordinary Nova shares.

Taca Taca is wholly owned by First Quantum Minerals Ltd., who consented to transferring the royalty to Nova as required by the underlying royalty agreement. The aggregate purchase price of the transaction included upfront consideration of USD 8.5 million in cash and two million Nova shares. Nova will make additional cash payments of USD 0.5 million in six months, USD1.0 million in twelve months and USD 0.5 million in twenty-four months.

Alex Tsukernik, Nova’s President and CEO, said that, “Taca Taca is one of the world’s premier copper development projects, under the ownership of an outstanding operator in First Quantum. Its size, grade, and location, position it among the top tier of a new generation of copper mines necessary to facilitate the world’s transition from fossil fuels to clean energy.”

Our partner in Energy and Natural Resources and Mining Leonardo G. Rodríguez along with associates María Mercedes Rudolph and Agustina Dellacasa, assisted in this deal.