Minerals 260 Limited has agreed to an additional $200 million funding package with Franco-Nevada Corporation to support development of the 6.2-million-ounce Bullabulling Gold Project in Western Australia, lifting total committed investment from the royalty group to $420 million.

Under the amended agreement, Franco-Nevada Australia Pty Ltd will pay $170 million in exchange for a 1.45% increase in its gross royalty over the project area, lifting the aggregate royalty to 3.90%. Once cumulative gold production reaches 6 million ounces, the royalty will step down to 2.75%. In addition, Franco-Nevada has confirmed its intention to subscribe for $30 million in a future equity raising by Minerals 260.

The transaction provides non-dilutive funding following due diligence on the July 2026 pre-feasibility study, which outlined a 19-year open-pit operation targeting first gold production in late 2028. Franco-Nevada will also contribute up to $100,000 annually for three years toward local community, education and environment initiatives.

“This is another exceptional milestone for Minerals 260 and our shareholders. Securing this level of support from Franco Nevada, a ~$50 billion market cap company and the largest royalty company in the world, further endorses Bullabulling as one of Australia's leading gold development projects.”

— Luke McFadyen, Managing Director

Minerals 260 acquired the 100%-owned project in April 2025 for $166.5 million. The current funding package follows an initial $220 million strategic investment agreed in February 2026.

“Both the team at Minerals 260 and the Bullabulling orebody continue to surpass our expectations. We are delighted to take this next step in building our partnership with the Company and firmly believe that our financial backing can play a lynchpin role in generating value for Minerals 260 shareholders.”

— Paul Brink, President & Chief Executive Officer

Minerals 260 remains in a trading halt pending a further announcement regarding the proposed equity raising. Definitive feasibility study workstreams and a final investment decision by the board are both targeted for the first quarter of calendar 2027.

Read the full announcement: Additional $200m Funding Agreed with Franco-Nevada