Tether lifts Metalla Royalty & Streaming stake to 14%
The El Salvador-based investment firm bought 149,116 shares on Monday for $1.36 million.
Tether International has increased its ownership in Metalla Royalty & Streaming (MTA) to around 14%, marking its growing interest in Canadian gold royalty companies. The stablecoin group acquired 149,116 shares on Monday for $1.36 million, raising its stake to 13.2 million shares. Metalla's portfolio encompasses a 1.5% royalty on a portion of Iamgold's (IMG) Côté mine and the entirety of the adjoining Gosselin deposit in northeastern Ontario.
Tether's substantial purchases over the past six months, totaling 1.94 million shares, indicate its confidence in the mining royalty sector. The stablecoin firm's strategy involves capturing mine revenue and higher metal prices without bearing the burden of mine construction and operation costs.
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