Franco-Nevada Reports Strong Q3 Results

Franco-Nevada Corporation (NYSE: FNV) reports Q3 strong results today.
As quoted in the press release:

“Franco-Nevada’s diversified portfolio continues to perform very well” commented David Harquail, CEO.  “We are seeing organic growth at some of our key precious metals assets such as Tasiast, Stillwater and Subika.  We are also having good success at adding new investments.  During the quarter, we closed the purchase of an oil royalty on the Orion Thermal Project in Alberta for C$92.5 million.  We also announced an agreement to acquire an additional precious metals stream at Cobre Panama for approximately $119 million.  Subsequent to quarter end, we entered into an agreement to acquire for approximately $110 million a new package of oil & gas royalties on the Delaware portion of the Permian Basin in Texas. Franco-Nevada will now have royalties on the top three most active shale basins in the U.S.  On-top of its ongoing funding for the Cobre Panama project, Franco-Nevada has made over $500 million in new commitments in the past year to grow its portfolio and remains debt free.”

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