Allens has advised Minerals 260 on an expanded strategic funding partnership with Franco-Nevada Corporation and a concurrent equity raising to support the continued development of the Bullabulling Gold Project in Western Australia.
The expanded package includes a further $200 million in strategic funding from Franco-Nevada, comprising $170 million in additional royalty financing through amendments to existing royalty arrangements over the Bullabulling Gold Project and a $30 million strategic equity investment. Franco-Nevada's equity investment forms part of a concurrent two-tranche placement and share purchase plan expected to raise approximately $280 million.
'This transaction marks the next phase of Minerals 260's strategic funding partnership with Franco-Nevada and strengthens the funding position of the Bullabulling Gold Project as it advances towards development,' Managing Associate Alexandra Meade said.
'We were pleased to further support Minerals 260 on a sophisticated funding solution combining royalty financing, strategic investment and public market capital raising, having worked closely with the company since it acquired the Bullabulling Project at the beginning of 2025.'
The transaction highlights the growing role of royalty capital in supporting large-scale mining developments and continued demand from international investors for high-quality Australian resource assets.
With Franco-Nevada expanding its commitment to the project, the transaction is also one of the largest royalty-based financing arrangements undertaken for an Australian gold development project.
Building on Allens' involvement in the original Franco-Nevada funding package, the team advised on multiple interrelated workstreams proceeding in parallel, including amendments to existing royalty arrangements and a concurrent equity raising, demonstrating Allens' experience advising on sophisticated funding solutions for development-stage mining projects.
Allens legal team
M&A and Capital Markets
Richard Malcolmson (Partner), David Gray (Partner), Alexandra Meade (Managing Associate), Lawrence Ward (Senior Associate), Rhys Johnson (Associate), Georgina Holborn (Associate)
Finance, Banking & Debt Capital
Ben Farnsworth (Partner)
Tax
Ellen Thomas (Partner)