On back of strong Q1, McEwen acquires existing NSR royalty on El Gallo mine

Gold producer McEwen Mining has acquired the existing tiered net smelter return (NSR) royalty on the El Gallo mine, in Mexico, currently paying 3.5% of gross revenue less allowable deductions. The miner advised on Tuesday that it had bought the NSR in return for a $5.25-million payment on closing and a conditional deferred payment of $1-million, to be made on June 30, 2018.