Franco-Nevada Expands Bullabulling Gold Stake with A$200 Million Deal

The agreement grants Franco-Nevada an effective 3.90% gross royalty on the Western Australian project, up from its existing 2.45% stake. By securing this position, the company aims to capitalize on the site's recent resource upgrades, which now stand at 4.4 million ounces of indicated resources. The funding is intended to carry the project through a definitive feasibility study and a final investment decision, both anticipated in early 2027.

Minerals 260 has been moving rapidly to bring the asset, located 65 km from Kalgoorlie, toward production. With first gold output potentially starting as early as the second half of 2028, the company plans to utilize a phased development strategy, beginning with a 5 Mtpa throughput capacity. Franco-Nevada’s investment, drawn from its existing cash reserves of $1.0 billion, reinforces its strategy of backing long-life, large-scale mining assets while maintaining a debt-free balance sheet.