Altius to buy TNR Gold in $86-million royalty deal

AI desk brief

Altius agreed to acquire TNR Gold for C$122 million ($86 million), with shareholders receiving Altius stock and shares in a spinout holding Alaska’s Shotgun gold project. The estimated 48¢ package represents a 60% premium to TNR’s Tuesday close. Altius would retain a 0.5% Shotgun royalty and invest $2.2 million to own just under 20% of the spinout. TD Securities expects limited near-term financial impact, with value dependent on copper-project development timelines; no material bullion effect is established. Closing is expected around Q1 2027, subject to shareholder, court and regulatory approvals.