Electric Royalties caps off busy summer with update on cash-flowing royalty
October 05, 2023 at 11:23 pm IST
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Electric Royalties CEO Brendan Yurik joined Steve Darling from Proactive to provided an update on the company's royalty portfolio, highlighting significant progress and developments.
Yurik shared that the company has seen considerable advancements during the summer, including a production update on its Penouta tin-tantalum royalty. Electric Royalties holds a 1.5% gross revenue royalty on this asset. Strategic Minerals Europe Corp, the operator of Penouta Mine in Spain, reported record production for the second quarter, with a 36% increase in primary concentrate production to 246 tonnes.
Additionally, Yurik discussed the results from the Bruvann prospect at the Råna Project in Norway. Global Energy Metals Corporation and its strategic partner, Kingsrose Mining Limited, reported analytical results from the first two diamond drill holes. These results revealed massive sulphide nickel-copper-cobalt mineralization, extending mineralization 20 meters southwest and on strike from a historical massive sulphide drill intercept.
These developments demonstrate the growing potential of Electric Royalties' royalty portfolio and its involvement in promising mining projects.
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Electric Royalties Ltd. is a Canada-based royalty company. The Company is focused on a range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that 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. The Company has a portfolio of 40 royalties across the world and 32 lithium properties in Ontario, Canada. Its royalty portfolio includes Middle Tennessee Zinc Mine, Penouta Mine, Kenbridge, Authier Lithium Project, Seymour Lake Lithium Project, Graphmada Graphite Project and others. 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.