Talk:Franco-Nevada

Some proposed updates

• Specific text to be added or removed: In the summary box table, row "Traded as", please add "(2011)" next to "NYSE: FNV" to become "NYSE: FNV (2011)"
• Reason for the change: Missing year that differs from year listed on the TSX.
• References supporting change: https://www.prnewswire.com/news-releases/franco-nevada-celebrates-nyse-listing-129291848.html

JasonP416 (talk) 22:56, 18 May 2021 (UTC)

• Specific text to be added or removed: In the summary box table, row "Key people", please change "(Chairman)" to "(Chair)", change "(President + CEO)" to "(President & CEO)" and add "Sandip Rana (CFO), Lloyd Hong (CLO)". "Key people will then become "David Harquail (Chair), Paul Brink (President & CEO), Sandip Rana (CFO), Lloyd Hong (CLO)"
• Reason for the change: Correcting titles and adding other key people
• References supporting change: https://www.franco-nevada.com/about-us/management/default.aspx, https://www.franco-nevada.com/about-us/board-of-directors/default.aspx

JasonP416 (talk) 22:56, 18 May 2021 (UTC)

• Specific text to be added or removed: In the summary box table, row "Key people", please change "(Chairman)" to "(Chair)", change "(President + CEO)" to "(President & CEO)" and add "Sandip Rana (CFO), Lloyd Hong (CLO)". "Key people will then become "David Harquail (Chair), Paul Brink (President & CEO), Sandip Rana (CFO), Lloyd Hong (CLO)"
• Reason for the change: Correcting titles and adding other key people
• References supporting change: https://www.franco-nevada.com/about-us/management/default.aspx, https://www.franco-nevada.com/about-us/board-of-directors/default.aspx

JasonP416 (talk) 22:56, 18 May 2021 (UTC)

• Specific text to be added or removed: In the summary box table, row "Products", please change "Royalties" to "Gold Royalties and Streams"
• Reason for the change: Stating specific product offerings
• References supporting change: https://www.franco-nevada.com/about-us/default.aspx

JasonP416 (talk) 22:56, 18 May 2021 (UTC)

Have done updates requested except CLO--BBCLCD (talk) 15:00, 23 May 2021 (UTC)

Some additional proposed updates

• Specific text to be added or removed:

These updates are for the first/introduction section on the Franco-Nevada page, above the Contents link box.

Please update Paragraph 1 from “Franco-Nevada Corporation is a Toronto, Ontario, Canada-based company that owns royalties and streams in gold mining and other commodity and natural resource investments. It is traded on the Toronto Stock Exchange and New York Stock Exchange.” to “Franco-Nevada Corporation is a Toronto, Ontario, Canada-based gold-focused royalty and streaming company with a large and diversified portfolio of cash-flow producing assets. It is traded on the Toronto Stock Exchange and New York Stock Exchange.(Reference 1)”

For Paragraph 3: “In 2002, Newmont acquired 100% of Franco-Nevada as part of a three-way combination of Newmont, Normandy and Old Franco-Nevada. Newmont maintained Franco-Nevada as a royalty holding division, transferring numerous other royalties to it over the five-year period following the acquisition, building its portfolio of royalties to include investments in almost 300 royalties (two-thirds in bases and precious metal miners, and one-third in oil and natural gas). In 2007 Newmont spun off Franco-Nevada in an initial public offering.”, (i) please remove the sentence in brackets “(two-thirds in bases and precious metal miners, and one-third in oil and natural gas)” as it is no longer in the corporate profile, and (ii) please remove the last sentence “In 2007 Newmont spun off Franco-Nevada in an initial public offering.”, as this sentence will begin a new paragraph outlined immediately below (paragraph 4).

New proposed paragraph (Paragraph 4): “In 2007, Newmont spun off Franco-Nevada in an initial public offering. Franco-Nevada has grown substantially since the IPO through the acquisition of existing royalties but also by acquiring precious metal streams directly from mine operators. The largest acquisitions have been by-product gold and silver streams from some of the world’s largest copper mines including Cobre-Panama (Panama), Candelaria (Chile), Antapaccay (Peru) and Antamina (Peru). Franco-Nevada has also continued to add to its oil and gas royalty interests, particularly in the major US oil and gas fracking basins.”

For paragraph 4, please see below for a detailed listing of related references.

• Reason for the change: Conforming to most current corporate profile description in general terms and summarizing the proposed updates to the remaining sections below.

• References supporting change:

Reference 1 https://s21.q4cdn.com/700333554/files/doc_financials/2021/q2/Franco-Nevada-Reports-Q2-2021-Results.pdf

References related to Paragraph 4: Newly proposed Paragraph 4 summarizes the updates to the existing “Early history”, “Newmont take over”, ”Split from Newmont” and “Recent deals” sections. The references are summarized here with the applicable section that the reference applies to in brackets next to each reference, but they will also be re-stated in each individual section’s proposed update.

https://en.wikipedia.org/wiki/Goldstrike_mine (Early history)

https://www.cbc.ca/news/business/gold-firms-franco-nevada-and-euro-nevada-to-merge-1.176250 (Early history)

https://www.northernminer.com/news/ken-snyder-mine-nears-completion/1000101112/ (Early history)

https://elkodaily.com/mining/franco-nevada-grows-but-still-tied-to-nevada/article_51eb35b0-b33a-5412-9c1a-a521f830a048.html (Early history)

https://www.theglobeandmail.com/report-on-business/newmont-makes-move-for-gold-mega-merger/article1187184/ (Newmont take over)

https://s21.q4cdn.com/700333554/files/doc_news/2018/05/Franco-Nevada-Reports-Record-Q1-Results.pdf (Recent deals/proposed section rename below to Major assets)

https://www.mining.com/first-quantum-panama-govt-study-ruling-cast-doubts-giant-copper-mine/ (Recent deals/proposed section rename below to Major assets)

https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/first-quantum-expand-cobre-panama/ (Recent deals/proposed section rename below to Major assets)

https://www.northernminer.com/financial-matters/lundin-strikes-strategic-us-1-8-billion-deal-for-candelaria/1003289027/ (Sub-Section “Candelaria” under Recent deals/proposed section rename below to Major assets)

https://www.lundinmining.com/news/lundin-mining-announces-2020-mineral-resource-and-123002/#:~:text=Lundin%20Mining%20Announces%202020%20Mineral%20Resource%20and%20Reserve%20Estimates,-September%208%2C%202020&text=TORONTO%2C%20Sept.&text=On%20a%20consolidated%20and%20attributable,and%206.9%20Moz%20of%20gold. (Sub-Section “Candelaria” under Recent deals/proposed section rename below to Major assets)

https://financialpost.com/commodities/mining/franco-nevada-corp-teck-resources-ltd-reach-610-million-streaming-deal-to-fund-antamina-mine-in-peru (New proposed sub-section “Antamina” under Recent deals/proposed section rename below to Major assets)

https://www.mining-technology.com/news/newsfranco-nevada-acquire-gold-silver-glencores-antapaccay-mine-peru-500m-4808132/ (New proposed sub-section “Antapaccay” under Recent deals/proposed section rename below to Major assets) https://www.e-mj.com/breaking-news/antapaccays-coroccohuayco-project-gets-approval/ (New proposed sub-section “Antapaccay” under Recent deals/proposed section rename below to Major assets)

https://s21.q4cdn.com/700333554/files/doc_news/2018/08/Franco-Nevada-Enters-into-Strategic-Relationship-with-Continental-Resources-Inc..pdf (New proposed sub-section “Continental joint venture” under Recent deals/proposed section rename below to Major assets)

https://www.prnewswire.com/news-releases/franco-nevada-adds-iron-ore-royalty-exposure-301271406.html (sub-section “Vale Royalty Debentures and Labrador Iron Ore” under Recent deals/proposed section rename below to Major assets)

JasonP416 (talk) 23:20, 18 August 2021 (UTC)

• Specific text to be added or removed:

Under section “Early history”

In Paragraph 1, (i) please remove “(1,200,000 g)” as grams was not referenced and the conversion could be incorrect, and (ii) please replace the last sentence “By 2002 the property generated $23 million annually for Franco-Nevada.” with “Barrick Gold Corp. acquired the Goldstrike property in 1986 and started production in 1987. The Goldstrike deposit is the largest Carlin-style deposit discovered globally and up until 2018, the mine had produced 44 Moz of gold.(Reference 1)”

Proposed new paragraph (Paragraph 4) to be added after the current last paragraph or where best suited in the section: “Seymour Schulich and Pierre Lassonde created a sister company to Franco-Nevada, named Euro-Nevada. Euro-Nevada had a gold only focus while Franco-Nevada was more diversified. In June 1999, they merged Franco-Nevada and Euro-Nevada to increase liquidity and financial capacity and improve clarity for shareholders. The combined companies had a market value of $3.5 billion at the time.(Reference 2)”

Proposed new paragraph (Paragraph 5): “In the early 1990’s, consulting geologist Ken Snyder convinced Pierre Lassonde and Seymour Schulich to stake a play at the intersection of the Carlin and Getchell trends in Nevada, leading to the high grade gold and silver discovery of what became the Ken Snyder Mine. Schulich and Lassonde concluded that the mine had a high enough silver credit to carry all operating costs, thereby “creating an effective 100% gold royalty”. Construction of the $84 million project was completed and first gold was poured in December 1998.(Reference 3)(Reference 4)

• Reason for the change: Removing and replacing old information from to 2002 that is no longer relevant with updated information (with respect to the Goldstrike mine) and providing a more robust picture of Company history.

• References supporting change:

Reference 1 https://en.wikipedia.org/wiki/Goldstrike_mine

Reference 2 https://www.cbc.ca/news/business/gold-firms-franco-nevada-and-euro-nevada-to-merge-1.176250

Reference 3 https://www.northernminer.com/news/ken-snyder-mine-nears-completion/1000101112/

Reference 4 https://elkodaily.com/mining/franco-nevada-grows-but-still-tied-to-nevada/article_51eb35b0-b33a-5412-9c1a-a521f830a048.html General reference: https://www.franco-nevada.com/about-us/Our-History/default.aspx

JasonP416 (talk) 23:20, 18 August 2021 (UTC)

• Specific text to be added or removed:

Under section “Newmont take over”, (i) please replace sentence 1: “In April 2001, Franco-Nevada sold the Nevada Midas mine,” with “In April 2001, Franco-Nevada sold the Midas mine (previously named the Ken Snyder mine),”, and (ii) please replace the ending of the last sentence “, and ultimately valuing Franco-Nevada shares at a 22% premium.[3][4]” with “, and ultimately valuing Franco-Nevada at $2.5 billion.(Reference 1)”

• Reason for the change: Correcting mine name and updating stated valuation to reporting standard

• References supporting change:

Reference 1 https://www.theglobeandmail.com/report-on-business/newmont-makes-move-for-gold-mega-merger/article1187184/

JasonP416 (talk) 23:20, 18 August 2021 (UTC)

{{

}}

• Specific text to be added or removed:

For the section “Split from Newmont”, please consider the proposed new name for the section (see below) to remove perception of the transaction being either amicable or hostile and to make the section sound more neutral overall. The proposed re-write changes the section name to “Initial public offering” from “Split from Newmont’, proposes a new opening sentence and also changes “a large portfolio” to “the portfolio” to make the paragraph more neutral when not knowing the size of each individual asset in the portfolio. The new heading name should be reflected in the Table of Contents.

Proposed section re-write:

Initial public offering

In 2007, Newmont made the decision to divest its portfolio of royalty assets. Pierre Lassonde, David Harquail and small team led by management of the original Franco-Nevada, launched an initial public offering on the Toronto Stock Exchange, raising CA$1.1 billion[5] which helped fund the US$1.2 billion acquisition of the portfolio of royalties from Newmont.[6] The listing was one of the largest in Canadian history, second only to the 2000 Sun Life IPO, and the largest mining IPO in North American history.[5][7][8] ”

• Reason for the change: Creating a more neutral sounding section

• References supporting change: Current references are still accurate

JasonP416 (talk) 23:20, 18 August 2021 (UTC)

• Specific text to be added or removed:

Re-name and re-write of the “Recent deals” section. For the “Recent deals” section, please consider a rename of this section from “Recent deals” to “Major assets” and the accompanying proposed section re-write that highlights the major assets obtained in each deal rather than just the deals themselves. Each asset's profile speaks to the related deals). The new section heading should be reflected in the Table of Contents.

Proposed section re-write:

Major assets

Cobre Panama

In August 2012, Franco-Nevada partnered with Inmet Mining to invest $1 billion in various metal streams from the Cobre Panama Copper Project.[10] In April 2013, First Quantum acquired Inmet Mining. At the end of January 2018, Franco-Nevada acquired an additional precious metals stream on Korea Resources Corp.’s interest in the Cobre Panama project and provided a second tranche of funding to First Quantum to assist it with acquiring a further 10% interest in the project. After this transaction, Franco-Nevada has precious metal stream interests covering 100% of the ownership of Cobre Panama.[11](Reference 1) In total, Franco-Nevada commited to fund $1.356 billion of the more than $6 billion capital cost for the project. An announcement of a Panamanian Supreme Court ruling in September 2018 in connection to the constitutionality of Law 9 of 1997, is raising questions concerning Minera Panama.[12](Reference 2) In April 2019, First Quantum indicated it plans to invest a further US$327 million to expand Cobre Panama’s throughput from 85 Mtpa to 100 Mtpa starting in 2023.(Reference 3)

Candelaria

In October 2014, Lundin Mining agreed to acquire an 80% interest in the Candelaria mining complex in the Atacama region on Chile from Freeport-McMoRan for $1.8 billion. To help fund the acquisition cost, Franco-Nevada paid $648 million to acquire a gold and silver stream from Lundin Mining on the mine.[14]

At the time, the mine had reserves supporting a 14 year mine life.(Reference 4) Lundin Mining had great exploration success expanding the underground extensions of the orebody and in its reserve update in September 2020 stated reserves supporting a 25 year mine life.(Reference 5)

Antamina

Franco-Nevada agreed to pay Teck Resources US$610 million for a stream on Teck’s 22.5% share of the silver production on the giant Antamina mine in Peru in October 2015. Teck owns its stake in Antamina along with BHP Billiton, Glencore and Mitsubishi Corp. Antamina is the world’s eighth-largest copper mine. A possible future underground expansion at Antamina could extend the mine life beyond 40 years.(Reference 6)

Antapaccay

Franco-Nevada acquired a gold and silver steam related to the Antapaccay mine in Peru from Glencore for $500 million in February 2016. The deal was part of a $10 billion debt reduction plan announced by Glencore in September 2015. Glencore invested more than $1.5 billion to build and commission the Antapaccay open-pit mine and plant, which started operations in 2012.(Reference 7) Glencore received approval from Peruvian authorities in January 2020 for the development of the Coroccohuayco project on the Antapaccay property. The integrated project would have a 34 year life.(Reference 8)

Continental Joint Venture

Franco-Nevada and Continental Resources entered into a strategic relationship to jointly acquire royalty rights in the SCOOP and STACK oil and gas plays of Oklahoma in August 2018. Franco-Nevada committed $520 million to the venture to be invested through 2021. The venture was established to acquire royalty rights at the grass-roots level in areas primarily within acreage operated by Continental.(Reference 9)

Vale Royalty Debentures and Labrador Iron Ore

On April 16, 2021, Franco-Nevada acquired 57 million Royalty Debentures for $538 million from the Brazilian Development Bank and the Government of Brazil, representing 14.7% of the total issued Royalty Debentures. The Royalty Debentures provide holders with life of mine net sales royalties on Vale's Northern Iron Ore system, Southeastern Iron Ore system and on certain copper and gold operations. Franco-Nevada also accumulated a 9.9% equity investment in Labrador Iron Ore Royalty Corporation, acquired over a number of years for a total investment of C$93 million. The mines associated with both investments produce high grade iron ore products that allow steelmakers to reduce C02 and other emissions from their operations.(Reference 10)

• Reason for the change: A proposed section re-organization/re-write that highlights the major assets obtained in each deal rather than just the deals themselves. The deals are mentioned in the asset profiles/summaries.

• References supporting change:

Reference 1 https://s21.q4cdn.com/700333554/files/doc_news/2018/05/Franco-Nevada-Reports-Record-Q1-Results.pdf

Reference 2 https://www.mining.com/first-quantum-panama-govt-study-ruling-cast-doubts-giant-copper-mine/

Reference 3 https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/first-quantum-expand-cobre-panama/

Reference 4 https://www.northernminer.com/financial-matters/lundin-strikes-strategic-us-1-8-billion-deal-for-candelaria/1003289027/

Reference 5 https://www.lundinmining.com/news/lundin-mining-announces-2020-mineral-resource-and-123002/#:~:text=Lundin%20Mining%20Announces%202020%20Mineral%20Resource%20and%20Reserve%20Estimates,-September%208%2C%202020&text=TORONTO%2C%20Sept.&text=On%20a%20consolidated%20and%20attributable,and%206.9%20Moz%20of%20gold.

Reference 6 https://financialpost.com/commodities/mining/franco-nevada-corp-teck-resources-ltd-reach-610-million-streaming-deal-to-fund-antamina-mine-in-peru

Reference 7 https://www.mining-technology.com/news/newsfranco-nevada-acquire-gold-silver-glencores-antapaccay-mine-peru-500m-4808132/

Reference 8 https://www.e-mj.com/breaking-news/antapaccays-coroccohuayco-project-gets-approval/

Reference 9 https://s21.q4cdn.com/700333554/files/doc_news/2018/08/Franco-Nevada-Enters-into-Strategic-Relationship-with-Continental-Resources-Inc..pdf

Reference 10 https://www.prnewswire.com/news-releases/franco-nevada-adds-iron-ore-royalty-exposure-301271406.html

JasonP416 (talk) 23:20, 18 August 2021 (UTC)

• Specific text to be added or removed:

Three new proposed main sections “Succession”, “Philanthropy” and “World Gold Council”, which should also be reflected in the Table of Contents if accepted.

New section heading and text for “Succession” below:

Succession

In May 2020, after more than twelve years in the role, Pierre Lassonde stepped down as Chair of Franco-Nevada, taking the role of Chair Emeritus. David Harquail, who had been President and CEO since the 2007 IPO, was appointed Chair and Paul Brink as President and CEO.(Reference 1)

New section heading and text for “Philanthropy” below:

Philanthropy

Pierre Lassonde, Chair Emeritus of Franco-Nevada, amongst his numerous philanthropic efforts, has endowed programs at the University of Utah in Salt Lake City, the Lassonde School of Engineering at York University in Toronto and the Lassonde Mining Engineering program at the University of Toronto.(Reference 2) David Harquail, Chair of Franco-Nevada, through his family foundation endowed the School of Earth Sciences at Laurentian University.(Reference 3) Mr Harquail’s family foundation also funded the establishment of the Harquail Center of Neuromodulation at Sunnybrook Health Sciences.(Reference 4)

New section heading and text for “World Gold Council” below:

World Gold Council

Pierre Lassonde was the Chair of the World Gold Council from 2005 to 2008. During his tenure, the council established the Conflict Free Gold Standard. David Harquail was the Chair from 2017 to 2020 and led the effort developing the World Gold Council’s Responsible Gold Mining Principles.(Reference 5)

• Reason for the change: Adding new sections that summarize other goals and initiatives and highlight corporate citizenship, in addition to core business activities, for a more well-rounded profile.

• References supporting change:

Reference 1 https://s21.q4cdn.com/700333554/files/doc_financials/2020/q1/Franco-Nevada-Reports-Q1-Results-(FINAL)-(2020-05-06).pdf

Reference 2 https://en.wikipedia.org/wiki/Pierre_Lassonde

Reference 3 https://laurentian.ca/news/harquail-family-invests-10M-to-advance-mineral-exploration-research

Reference 4 https://sunnybrook.ca/media/item.asp?i=1716

Reference 5 https://www.gold.org/who-we-are/our-leadership/our-chairs

JasonP416 (talk) 23:20, 18 August 2021 (UTC)

Only Succession included. Philanthropy could be mentioned under the WP articles of the persons involved. BBCLCD (talk) 16:27, 6 September 2021 (UTC)