Moydow Mines International Inc. (TSX:MOY) has completed the sale of an undivided 20% interest in the company's Ntotoroso 2% net smelter returns royalty to Franco-Nevada Corporation (TSX: FNV). The company sold the interest for a cash consideration of US$13 million. The Ntotoroso Royalty is only one part of Newmont Mining Corporation's Ahafo gold mine in Ghana. The sale forms the first part of a previously announced transaction with Franco-Nevada. Franco-Nevada is seeking to acquire both the company and their Ntotoroso Royalty.
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About Moydow
The Company is engaged in the acquisition, exploration and development of mineral properties worldwide. Corporate information is available on the Company's website www.moydow.com. The Company is listed on the Toronto Stock Exchange and the AIM Market of the London Stock Exchange under the symbol "MOY."
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