The agreement provides a framework for cooperation and communication amongst the parties in the identification and evaluation of potential co-investment opportunities, a statement from Gold Royalty said.

Each party will have the right to invest between 25% and 50% in select asset transactions with a value of $30 million or more, the royalty firm said, adding that future dispositions of interests acquired by either party through this arrangement will be subject to rights of first offer.

John Griffith, chief development officer of Gold Royalty, said this agreement would offer the company an enhanced access to new and complementary geographic regions.

Gold Royalty currently holds a diversified portfolio consisting primarily of net smelter return royalties on properties located in the Americas.

These include the Canadian Malartic, one of Canada’s largest operating gold mines, and the REN project, which is an underground extension to the largest US gold mine, the Goldstrike in Nevada.