Royal Gold Completes Acquisitions of Sandstorm Gold and Horizon Copper to Expand Precious-Metals Streaming and Royalties Portfolio

October 20, 2025

Royal Gold, Inc. completed its previously announced acquisitions of Sandstorm Gold Ltd. and Horizon Copper Corp., expanding its diversified portfolio of precious metal stream and royalty interests. The Sandstorm deal was completed via share issuance to Sandstorm shareholders, and the Horizon acquisition was funded in part by drawings on Royal Gold’s revolving credit facility.

Buyers
Royal Gold, Inc., International Royalty Corporation
Targets
Sandstorm Gold Ltd., Horizon Copper Corp.
Sellers
Sandstorm Gold Ltd. shareholders, Horizon Copper Corp. shareholders
Location
Colorado, United States
Transaction Type
Buyout

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