as tsx fnv nyse fnv s & p tsx 60 component industry mining oil & gas predecessor franco nevada corporation newmont mining corporation successor newmont mining corporation headquarters toronto canada 2007 2007 key people pierre lassonde chairman david harquail ceo products royalties website franco nevada.com franco nevada corporation is a toronto 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 . the old franco nevada was a publicly listed company on the toronto stock exchange from 1983 to 2002 . in 1986 old franco nevada made its first royalty acquisition and acquired or created additional royalties and resource investments from 1986 to 2002 . following several royalty acquisitions in the 1980s and 1990s old franco nevada sold its only mining property to normandy mining in exchange for 19.9 % of the company s shares . 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 royalies 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 . contents 1 early history 2 newmont take over 3 split from newmont 4 references early history edit franco nevada initially began trading as a public gold exploration company in 1983 and was led by executives seymour schulich and pierre lassonde . at the time oil and gas royalty ownership but not gold royalty ownership was an established business strategy . in 1985 franco nevada raised 930 000 to purchase gold royalties in a follow on offering . the company made its first royalty investment in 1986 spending half the corporate treasury 2 million to acquire 4 % of revenues from a mine in nevada owned by western states minerals . the mine had an annual production of 44 000 ounces 1 200 000 g of gold . franco nevada assumed that known reserves would allow the royalty to pay for itself regardless of additional exploration results . by 2002 the property generated 23 million annually for franco nevada . in 1988 franco nevada purchased a royalty on the castle mountain mine in california . despite the castle mountain mine being unsuccessful losing money and eventually closing franco nevada collected triple its investment of 2.8 million . franco nevada further went on to purchase royalties in various other commodities but continued its focus on gold . 1 newmont take over edit in april 2001 franco nevada sold the nevada midas mine its only wholly owned mine to normandy mining in exchange for 20 % of normandy and a five percent royalty on the mine . that september anglo gold made a bid for normandy at a valuation 60 % greater than franco nevada s acquisition cost . seeing the potential to take advantage of newmont s rivalry with anglo schulich and lassonde approached newmont mining corporation to discuss purchasing franco nevada and normandy striking a deal richer than anglo s offer and ultimately valuing franco nevada shares at a 22 % premium . 2 3 split from newmont edit in 2007 franco nevada launched an initial public offering on the toronto stock exchange raising ca 1.1 billion 4 which helped fund the us 1.2 billion acquisition of a large portfolio of royalties from newmont . 5 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 . 4 6 7 references edit condon bernard february 18 2002 . kings of royalty . forbes . retrieved 2009 11 02 . bernard condon february 18 2002 . royalty kings page 2 . forbes . retrieved 2009 11 02 . simon bernard november 15 2001 . newmont pursues 2 buyouts aiming to be no. 1 in gold . new york times . retrieved 2009 11 02 . a b bailey stewart ; doug alexander december 3 2007 . franco nevada unchanged in stock debut after ipo . bloomberg . retrieved 2009 11 02 . french cameron november 21 2007 . newmont s franco nevada launches canada ipo . reuters . retrieved 2009 11 02 . koven peter january 31 2008 . franco nevada swelled 2007 ipo statistics . financial post . retrieved 2009 11 02 . vlastelica ryan december 20 2007 . newmont mining sells 1.3 billion in assets to franco nevada . thomas financial . retrieved 2009 11 02 . v t e s & p tsx 60 companies of canada february 22 2016 agnico eagle mines agrium arc resources bank of montreal barrick gold bce inc. blackberry bombardier brookfield asset management cameco canadian imperial bank of commerce canadian national canadian natural resources canadian pacific canadian tire cenovus energy cgi group constellation software couche tard crescent point energy dollarama eldorado gold emera enbridge encana first quantum minerals franco nevada fortis inc. gildan goldcorp husky energy imperial oil inter pipeline kinross gold loblaw companies magna international manulife financial metro national bank of canada pembina pipeline potashcorp power corporation restaurant brands international rogers communications royal bank of canada saputo scotiabank shaw communications silver wheaton snc lavalin sun life financial suncor energy teck telus thomson reuters toronto dominion bank transcanada valeant weston yamana gold retrieved from https en.wikipedia.org w index.php title franco nevada & oldid 687966662 categories s & p tsx 60 indexs & p tsx composite indexcompanies listed on the toronto stock exchangecompanies listed on the new york stock exchange navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 28 october 2015 at 19 41 . text is available under the creative commons attribution sharealike license ; 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