Royalty Companies Start Swinging For the Fences
Love that free cash flow...
Back in 2023, royalty/streaming giant Franco-Nevada (FNV) saw its biggest-ever bet — the Cobre Panama copper mine — collapse, forcing FNV to write off the entire $1 billion investment. This was front-page news in the mining industry, and, among other things, provided investors with a benchmark against which to measure the size of royalty/streaming deals…