Elliott boosts stake in Triple Flag to 67%

Triple Flag Precious Metals

16/03/2023 13:20

March 16 (Reuters) - Elliott Investment Management on
Thursday raised its stake in gold-focused streaming and royalty
firm Triple Flag Precious Metals Corp  TFPM.TO  to 67% from
64.7%.
    The hedge fund acquired 4.7 million shares in Triple Flag at
C$16.50 per share.
    Triple Flag provides upfront financing to miners in exchange
for a share of future revenue or production. It has vested
interests in royalty, concerning Alamos Gold Inc's
Young-Davidson mine located in Ontario, and Kirkland Lake Gold
Ltd's Fosterville underground mine in Australia.
    The mine financing company in 2021 had raised more than $250
million in an initial public offering, the biggest Toronto Stock
Exchange mining debut since 2012.
    Elliott previously had bought 129.1 million shares in the
Canada-based company, according to an SEC filing.

 (Reporting by Arshreet Singh; Editing by Shilpi Majumdar)
 ((Arshreet.Singh@thomsonreuters.com; Twitter: https://twitter.com/Arshreets;))