Royal Gold Inc. has announced plans to acquire Canadian mining royalty company Sandstorm Gold Ltd. in an all-stock transaction valued at approximately $3.5 billion. The deal aims to strengthen Royal Gold's position in the North American precious metals streaming industry amid rising bullion prices. Additionally, Royal Gold is acquiring Horizon Copper Corp. in an all-cash transaction worth about $196 million. Together, these acquisitions, totaling around $3.7 billion, position Royal Gold as one of the largest metals streaming companies globally. Following the announcement, Sandstorm Gold's U.S. shares rose 10% in pre-market trading. The acquisitions reflect ongoing consolidation in the mining sector driven by record-high metal prices. Royal Gold's CEO highlighted that the all-stock deal will help the Denver-based company grow into the only large-scale U.S. firm of its kind in the industry.