Home › Download › FRANCO NEVADA (FNV $38.54 rated neutral from underweight with price target raised to $34 from $23) EIGHT NEW ROYALTIES HIGHLIGHTED ON FNV’S 5/8/12 INVESTOR DAY ADDED TO MODEL, THE MOST SIGNIFICANT OF WHICH IS A 1.08% NSR ON TECK’S TACA TACA COPPER PROJECT IN ARGENTINA. YEAR END CASH 2011 CASH OF $794.1 M AND NO DEBT IMPROVE DCF VALUATION 5/16/2012

FRANCO NEVADA (FNV $38.54 rated neutral from underweight with price target raised to $34 from $23) EIGHT NEW ROYALTIES HIGHLIGHTED ON FNV’S 5/8/12 INVESTOR DAY ADDED TO MODEL, THE MOST SIGNIFICANT OF WHICH IS A 1.08% NSR ON TECK’S TACA TACA COPPER PROJECT IN ARGENTINA. YEAR END CASH 2011 CASH OF $794.1 M AND NO DEBT IMPROVE DCF VALUATION 5/16/2012

FRANCO NEVADA (FNV $38.54 rated neutral from underweight with price target
raised to $34 from $23) EIGHT NEW ROYALTIES HIGHLIGHTED ON FNV’S 5/8/12
INVESTOR DAY ADDED TO MODEL, THE MOST SIGNIFICANT OF WHICH IS A
1.08% NSR ON TECK’S TACA TACA COPPER PROJECT IN ARGENTINA. YEAR
END CASH 2011 CASH OF $794.1 M AND NO DEBT IMPROVE DCF VALUATION 5/16/2012