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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Electric Royalties Ltd | TSXV:ELEC | 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% | 0.22 | 0.21 | 0.22 | 0 | 01:00:00 |
VANCOUVER, BC, Dec. 8, 2021 /CNW/ - Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF) ("Electric Royalties" or the "Company") is pleased to provide the following asset update on its rapidly developing royalty portfolio.
Brendan Yurik, CEO of Electric Royalties, states, "It's been an incredible period of growth since our last asset update in September and we've had several more developments across the assets comprising our battery metal royalty portfolio." Highlights include:
"It's been a tremendous year overall with a heavy weighting towards lithium within our current portfolio and lithium prices up substantially this year. We anticipate major catalysts across most of our portfolio in 2022 so despite the robust asset advancement we've seen in 2021, we're expecting 2022 to be even more exciting. Since September, operators of the projects on which we hold royalties have raised over $40 million for the advancement of those assets, all occurring at no cost or dilution to Electric Royalties. From well-funded development plans for the Cancet and Seymour Lake projects, to upcoming economic studies at Battery Hill, to the progress on moving Authier and Graphmada toward production, 2022 is shaping up to be a transformational year."
Authier Lithium Royalty – 0.5% of Gross Revenue
Sayona Mining Limited ("Sayona") (ASX: SAY) announced as part of its quarterly update that the integration of NAL with Authier will transform both operations and create a world–scale Quebec based lithium hub. Sayona stated that they are targeting production of concentrate from 2023 (see Sayona news release dated August 30, 2021). Sayona will also advance plans for downstream processing in Quebec by taking advantage of the province's environmental and economic benefits which include low cost, renewable hydropower, an established mining services industry and proximity to the North American battery market (see Sayona news release dated October 29, 2021).
In addition, Sayona released drilling results at the Authier project as part of a program to increase the confidence and quality of the lithium mineralisation at the project (see Sayona news release dated December 1, 2021).
Graphmada Graphite Royalty – 2.5% of Gross Concentrate Revenue
Greenwing Resources ("Greenwing") (ASX: WR1) announced an increase in the deposit size at its wholly owned Graphmada Mining Complex in Madagascar (see Greenwing news release dated November 19, 2021).
Cancet Lithium Royalty – 1% of Net Smelter Revenue
Winsome Resources ("Winsome") (ASX: WR1) commenced trading on the Australian Securities Exchange, following an Initial Public Offering (IPO) which raised $18 million (see Winsome news release dated November 30, 2021). Winsome will utilise the funds for an intensive exploration and drilling campaign at its projects in the James Bay region of Quebec, Canada, concentrating its efforts on establishing a maiden resource of high quality spodumene concentrate that is suitable for conversion across multiple battery applications. Winsome currently has three wholly owned projects - Cancet, Adina and Sirmac-Clapier. Drilling at the most advanced project, Cancet, indicates a potentially shallow, open pitable lithium deposit that would be located close to established road and power infrastructure.
Seymour Lake Lithium Royalty – 1.5% of Net Smelter Revenue
Green Technology Metals ("Green Technology") (ASX: GT1) raised gross proceeds of A$24 million to advance the Seymour Lake project. Green Technology is now successfully trading on the Australian Stock Exchange (see Green Technology news release dated November 8, 2021).
In addition, Green Technology has announced that a step-out, 11-hole, 3,500 meter diamond drilling program at Seymour is to commence in the coming weeks and the program is targeting a substantial increase in the extent of the existing deposit (see Green Technology news release dated November 18, 2021).
Bissett Creek Graphite Royalty – 1% of Gross Revenue and an option to increase the royalty by 0.5%
Northern Graphite Corporation ("Northern Graphite") (TSXV: NGC) announced the signing of binding purchase and sale agreements to acquire 100% ownership of the producing Lac des Iles graphite mine in Quebec from the Imerys Group and the Okanjande graphite deposit/Okorusu processing plant in Namibia from the Imerys Group and its joint venture partner for approximately US$40 million (see Northern Graphite news release dated December 2, 2021). Northern Graphite will become the only significant North American graphite producer and will acquire an existing customer base and market share. The acquisitions provide a platform from which to finance and develop Northern Graphite's Bissett Creek deposit.
Northern Graphite also announced that battery anode material ("BAM") manufactured from its Bissett Creek concentrates demonstrated excellent electrochemical performance during recent battery testing by ProGraphite in Germany. ProGraphite concluded that Northern Graphite's high purity anode material is very well suited for the manufacture of high capacity, durable, long-life lithium-ion batteries (see Northern Graphite news release dated November 11, 2021).
Battery Hill Manganese Royalty – 2% of Gross Revenue Manganese X Energy Corp. ("Manganese X Energy") (TSXV: MN) announced that recent processing and metallurgical work has resulted in significant cost reductions in the production of high-grade battery material (see Manganese X Energy news release dated October 12, 2021). This work is an integral part of the upcoming PEA, as the metallurgical processing is a key economic component of the project. The PEA will characterize and assess the economic and commercial viability of producing high-purity, battery-grade manganese products from the Battery Hill project located near Woodstock, New Brunswick.
David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.
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, zinc & 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 growing portfolio of 17 royalties, including one royalty that currently generates revenue, with an additional royalty acquisition in progress. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.
On Behalf of the Board of Directors,
Brendan Yurik
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company 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 and may include statements regarding the 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 of the Company and the projects in which it holds royalty interests and the companies that own or operate said projects.
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 projects 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 the owners of these projects to implement their 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 as well as other information filed with the OTC Markets 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 and at otcmarkets.com.
SOURCE Electric Royalties Ltd.
Copyright 2021 Canada NewsWire
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