Royal Gold to Sale Ownership Interest in Peak Gold Project

Royal Gold, Inc. RGLD has entered into an agreement with Kinross Gold Corporation KGC to sell its shareholding interest in the Peak Gold joint-venture project in Alaska as well as common share holding in Contango Ore, Inc. for cash proceeds of total $61.3 million and increased royal interests.

Royal Gold will receive $49.2 million for the sale of a 40% ownership interest in Peak Gold, LLC, the owner of the Peak Gold project and $12.1 million for selling its holding of 809,744 shares in Contango, Royal Gold’s partner in Peak Gold, LLC.

Additionally, Royal Gold will receive an incremental 28% net smelter return (NSR) royalty on silver produced from the current resource area and an incremental 1% NSR royalty on certain State of Alaska mining, owned by Contango. This will increase Royal Gold’s royalty in this area from 2% to 3%.

Following the deal’s completion, Kinross will be the Peak

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California dreamin’: A peak inside homes with one of SoCal’s newest million dollar views

PACIFIC PALISADES (KABC) — A home with an ocean view sounds wonderful if you can afford it; for many it is part of the California dream. Now there are a few more residences on the market in a new development in Pacific Palisades. One Coast is a development that features 53 luxury residences with ocean views at the iconic intersection of Sunset Blvd. and Pacific Coast Highway. Bree Long, senior vice president, sales and marketing for etco homes, says there is a certain type of buyer for these homes.

“They are primarily driven by the view experience and wanting to have that feeling when they wake up in the morning that they’ve arrived,” said Long.

That view is going to cost you. Prices for the townhomes at One Coast start at over $2 million. Ecto homes says it’s one of the few new building locations with ocean views still available

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US House Prices Hit Record High; Home Sales At 14-Year Peak

U.S. home sales surged the most in nearly 15 years last month, while median prices hit an all-time high and sale times narrowed as housing continues to pace the nation’s economic recovery. 

Existing home sales rose 2.4% from last month to a unit rate of 6 million, the third consecutive month of gains and the highest pace of gains since 2006, according to data published Tuesday by the National Association of Realtors. Sales as a whole rose 10.5% from last year, the NAR said.  

The median price of house sales also increased, rising 11.4% from the same period last year to a record high of $310,600, marking 102 consecutive year-over-year gains for the monthly data as demand for larger-area living spaces outside of traditional urban centers continues to increase. 

Inventory for sale is also fairly constrained, at just 2.8 months’ supply, with the NAR noting that total housing inventory at

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U.S. existing home sales approach 14-year high; prices scale record peak

By Lucia Mutikani

WASHINGTON (Reuters) – U.S. home sales surged to their highest level in nearly 14 years in August as the housing market continued to outperform the overall economy, but record high home prices could squeeze first-time buyers out of the market.

The report from the National Association of Realtors confirmed home sales had recovered after slumping when the economy almost ground to a halt as businesses were shuttered in mid-March in an effort to slow the spread of COVID-19.

Demand for housing is being fueled by record-low mortgage rates and a pandemic-fueled migration to suburbs and low-density areas in search of more spacious accommodation as many people work from home. Federal Reserve Chair Jerome Powell told a congressional panel on Tuesday that the economy has shown “marked improvement” since plunging into recession in February, though the path ahead remains uncertain.

“The housing market has continued its remarkable recovery

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