May 8, 2012 / 10:52 AM / in 6 years

Franco-Nevada profit lifted by bullion price

TORONTO, May 8 (Reuters) - Canadian gold-focused royalty company Franco-Nevada Corp said on Tuesday its first-quarter profit more than doubled, largely driven by high bullion prices.

The company said net income rose to $46.8 million, or 33 cents a share, from $21.2 million, or 18 cents a share, a year earlier.

Toronto-based Franco-Nevada provides miners upfront cash in exchange for future royalties. The company holds interests in precious metal, base metal, and oil and gas projects around the world.

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