Diversified exposure to a broad range of rare metals and minerals (including tin) that are critical raw materials for clean technology
Nechalacho Project, with a completed feasibility study, an approved Environmental Assessment and a rare earth oxide refining solution in place, is uniquely positioned to bring a new supply of the scarce, yet vital heavy rare earths to the market
East Kemptville Tin-Indium Project was re-activated in 2014 and is advancing steadily with a new NI 43-101 resource estimate and a conceptual re-development study completed Feb 2015
Separation Rapids Lithium Minerals (Petalite) Project is advancing due to new demand from the glass-ceramics industry for the petalite product and for its potential to produce high purity lithium chemicals for the growing rechargeable battery market
* CEO says market good for new royalty, stream deals
* Shares drop 3.2 percent to C$45.88 in Toronto
TORONTO, March 20 (Reuters) - Shares of Franco-Nevada Corp fell as much as 6.4 percent on Wednesday the day after the Canadian gold royalty and streaming company released fourth-quarter results that missed analyst estimates and offered a disappointing 2013 outlook.
Toronto-based Franco-Nevada, which invests in mining projects rather than producing metals itself, said it expected to receive some 215,000 to 235,000 gold equivalent ounces in 2013, along with $55 million to $65 million in revenue from its oil and gas assets.
While the gold outlook was in line with the 230,000 ounces it received in 2012, it was lower than expected. The company will receive fewer royalty ounces from Barrick Gold Corp's Goldstrike mine in the U.S. state of Nevada, along with declining ounces at other projects.
On the positive side, Franco-Nevada expects its share of gold equivalent ounces from its existing portfolio to expand by at least 40 percent over the next five years and said the current financing market is favorable for striking new deals.
"We continue to see good opportunities to further supplement this growth with further investments," said Chief Executive David Harquail in a statement.
Harquail said the company has some $1.4 billion of capital available for investment in royalty and stream deals.
A royalty is an ongoing economic interest in the production or future production from a project, while a stream deal gives the company the right to buy future metal production at a set price.
Franco-Nevada reported a fourth-quarter loss late on Tuesday, as it posted a $74.1 million impairment charge on the value of its Arctic Gas assets in Northern Canada, along with an additional $8.6 million charge on other long-term investments.
The company had a net loss of $33.1 million, or 23 cents a share, in quarter ended Dec. 31. That compared with a loss of $105.4 million, or 80 cents, in the year ago period.
Adjusted to remove the impairment charges and other items, earnings came in at $47 million, or 32 cents a share, slightly below the average analyst estimate of 34 cents a share, according to Thomson Reuters I/B/E/S.
Revenue fell 4 percent to $114.1 million.
Shares of Franco-Nevada dropped as low as C$44.36 on Wednesday morning on the Toronto Stock Exchange, before regaining slightly to trade down 3.2 percent at C$45.88 around midday.