Canada NewsWire
VANCOUVER, BC, July 15, 2021
VANCOUVER, BC, July 15, 2021 /CNW/ - Electric Royalties Ltd. (TSXV: ELEC) ("Electric Royalties" or the "Company") is pleased to provide an asset update on its current royalty portfolio.
Brendan Yurik, CEO of Electric Royalties, highlights "It's only been a month since our last asset update in which there was significant progress across most of the Company's portfolio; we now have several major new updates to announce.
In the past month alone over $50 million has been raised by operating partners to fund and advance assets over which we hold royalties; it's an exciting positive trend across our entire portfolio and beneficial to Electric Royalties shareholders."
Authier Lithium Royalty, 0.5% Gross Revenue Royalty ("GRR"), operated by ASX listed Sayona Mining Ltd ("Sayona")
SAYONA OBTAINS COURT APPROVAL FOR NORTH AMERICAN LITHIUM MINE ACQUISITION (see Sayona news release June 30, 2021)
A$45M FINANCING TO FUND NAL ACQUISITION, ADVANCE ABITIBI LITHIUM HUB (See Sayona news release July 12, 2021)
Battery Hill Manganese Royalty, 2% GRR, operated by TSXV listed Manganese X Energy Corporation ("Manganese X")
MANGANESE X ENERGY CORP. (MXE) ANNOUNCES MINERAL RESOURCE ESTIMATE FOR BATTERY HILL MANGANESE PROJECT (See Manganese X press release July 7, 2021)
Seymour Lake Royalty, 1.5% NSR, operated by ASX listed Ardiden Limited ("Ardiden")
A$8.7M OPTION EXERCISED TO FORM LITHIUM JOINT VENTURE (See Ardiden press release June 23, 2021)
Millennium Cobalt Royalty, 0.5% GRR (with an option to buy up to an additional 1%), operated by TSXV listed Global Energy Metals Corporation ("Global Energy Metals")
GLOBAL ENERGY METALS SIGNS DEFINITIVE OPTION AGREEMENT WITH METAL BANK LIMITED TO COMMENCE WORK PROGRAM ON THE MILLENNIUM COPPER-COBALT-GOLD PROJECT IN QUEENSLAND, AUSTRALIA (See Global Energy Metals press release June 28, 2021)
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1 | Mineral resources are reported at a cut-off grade of 2.50% Mn within the optimized pit shell. Pit optimization parameters include: pricing of US$1500/tonne for High Purity Manganese Sulphate Monohydrate (HPMSM) - 32% Mn (HPMSM - 32 %), exchange rate of CDN $1.30 to US$ 1.00, mining at CDN $6.50/t, combined processing and G&A (1000 tpd) at CDN $86.22/t processed and a process recovery of Mn to HPMSM of 65%. Fe content was not included in the pit optimization. The July 7, 2021 news release references a summary of the mineral resource estimate and states a complete version of the mineral resource estimate (presumably in a technical report) will be posted to www.sedar.com within 45 days. |
David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.
For further details on Electric Royalties, please visit www.electricroyalties.com, contact us at (604) 639-9200 or send us an email at [email protected].
On Behalf of the Board of Directors
Brendan Yurik
Chief Executive Officer
About Electric Royalties Ltd
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel & copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to feed the electric revolution.
Electric Royalties has a portfolio of 12 royalties and 4 more acquisitions in progress. The Company plans to focus predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk.
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2 | Estimated under JORC at 0.70% Copper Equivalent (CuEq) cut-off; individual grades are 0.32% Cu, 0.11% Co and 0.11 ppm Au and reported as a historical estimate in a 2019 technical report that is posted on www.sedar.com. The CuEq calculation uses commodity prices of Cu: US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag: US$20/oz. |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes information regarding other companies based on previously disclosed pubic information disclosed by those companies and the Company is not responsibility for the accuracy of that information, and that all information provided herein is subject to this FLI cautionary. This news release also includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and these other companies and within the meaning of Canadian securities laws. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events or results or those of these other companies and may include statements regarding the Company's financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities or those of these other companies.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these other companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax and regulatory matters; the ability of the Company or any of these other companies to implement its business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR and those of these other companies, or equivalent public filings for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.
SOURCE Electric Royalties Ltd.
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