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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Elemental Altus Royalties Corp | TSXV:ELE | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.17 | 1.16 | 1.19 | 0 | 12:01:18 |
VANCOUVER, BC, Aug. 23, 2021 /CNW/ - Elemental Royalties Corp. ("Elemental" or "the Company") (TSXV: ELE) (OTCQX: ELEMF) is pleased to announce its operating and financial results for the three and six months ended June 30, 2021. For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the three and six months ended June 30, 2021, available on SEDAR (www.sedar.com) or the Company's website (www.elementalroyalties.com).
Frederick Bell, CEO of Elemental commented, "The highlight of Q2 was the successful first gold pour at our cornerstone Karlawinda royalty in Australia. Completed on time and on budget, Karlawinda is a high-quality mine that materially de-risks the Company's royalty portfolio with approximately 80% by NAV now coming from operating assets.
With active exploration programs underway across the portfolio, we look forward to continued organic resource growth and additional value being created for shareholders at no cost to the Company. We also remain engaged on a robust pipeline of royalty opportunities to complement the doubling of royalty revenue expected going into 2022."
Asset Highlights
Financial Highlights
Outlook
Elemental maintains guidance of 4,000 to 4,400 attributable zero-cost gold equivalent ounces1 in 2021 from its existing portfolio, weighted towards the second half of the year, with over 90% of expected revenue derived from gold.
Asset Updates
Karlawinda (2% NSR)
Wahgnion (1% NSR)
Amancaya (2.25% NSR)
Mercedes (1% NSR)
Laverton (2% Gross Revenue Royalty)
Kwale (0.25% Gross Royalty)
Mount Pleasant (5% NPI or A$10/oz Royalty)
Panton (0.5% NSR)
Western Queen (A$6 to A$20/oz Royalty)
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and Director
TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619L1076
About Elemental Royalties
Elemental is a gold-focused royalty company listed on the TSX-V in Canada and provides investors with lower risk precious metals exposure through a portfolio of nine high-quality royalties. This enables investors to benefit from ongoing royalty revenue, future exploration upside and low operating costs. Elemental's experienced team seeks to secure royalties in advanced precious metals projects, run by established operators, from its pipeline of identified opportunities.
Qualified Person
Richard Evans, FAusIMM, is Senior Vice President Technical for Elemental, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V.) accepts responsibility for the adequacy or accuracy of this press release.
1 Elemental has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards (IFRS). The Company's royalty revenue is converted to an attributable gold equivalent ounce basis by dividing the royalty revenue received in a period by the average gold price for the same respective period. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS measures differently. The production forecast was derived using information that is available in the public domain as at the date hereof, which included guidance and estimates prepared and issued by management of the operators of the mining operations in which Elemental holds an interest. The production forecast is sensitive to the performance and operating status of the underlying mines. None of the information has been independently verified by Elemental and maybe subject to uncertainty. There can be no assurance that such information is complete or accurate.
2 The Tuart deposit in Elemental's Mt Pleasant royalty area has been assigned a historical resource estimate on both conceptual underground and open pit mineralisation on the basis of Norton Gold Fields Limited's announcement dated February 3, 2015, titled "January 2015 Mineral Resource & Ore Reserve update". The estimate was prepared by Norton Goldfields Ltd (ASX: NGF) in accordance with the JORC Code 2012 for the situation at Dec 31, 2014, and is available on the ASX website at: https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01596085. Elemental believes that the resources disclosed are fundamentally reliable but they should not be relied on as a current resource estimate, and no qualified person of Elemental has done sufficient work to classify the above estimate as current Mineral Resources. Elemental is not treating the historical estimate as current Mineral Resources or Mineral Reserves and it is unknown how much of the historical resource will be economic under the proposed mine plan. Elemental understands that there has been no production from the area since the historical resource estimate was published
3 Panoramic Resources Ltd.'s ASX announcements dated September 30, 2015, titled "Mineral Resources and Ore Reserves at June 30, 2015", The ASX announcement is prepared in accordance with the JORC Code and is available on Panoramic's website at https://panoramicresources.com/asx-announcements/.
Cautionary note regarding forward-looking statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not limited to, statements with respect to the future growth and development of the Company. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Elemental's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Elemental undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE Elemental Royalties Corp.
Copyright 2021 Canada NewsWire
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