Royal Gold Inc. announced plans to acquire Canada's 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 royalty sector amid rising bullion prices. In addition to Sandstorm Gold, Royal Gold is also set to acquire Horizon Copper Corp. in an all-cash deal worth about $196 million. Together, these acquisitions, totaling around $3.7 billion, are expected to position Royal Gold as one of the leading metals streaming companies globally. Following the announcement, Sandstorm Gold's shares rose by 10% in pre-market trading, while Royal Gold's stock experienced a decline. The transactions reflect ongoing consolidation in the mining industry driven by record-high metal prices.