Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) said it continues to make significant progress across its multi-commodity global portfolio of royalty assets.
In a portfolio update, the company’s CEO Brendan Yurik told investors that the company had seen approximately 60 development updates across 11 royalty assets this year alone, and 2023 promised many more.
“We believe 2023 will be a pivotal year for Electric Royalties as we target closing of our first cash-flowing tin royalty and anticipate cash flow from our first lithium royalty, thereby potentially increasing our number of paying royalties to three,” Yurik said.
READ: Electric Royalties inks deal to acquire 0.75% royalty on producing tin-tantalum mine in Spain
He added that, despite the difficult equity markets in the past six months, it had been tremendously exciting to see progress continue across its Electric Royalties’ portfolio, particularly at its lithium assets.
“Upon forecast restart in 1Q 2023, Sayona Mining's North American Lithium (NAL) operation will become Canada's only producing lithium mine; NAL will seek to integrate mill feed from the Authier project on which we have a 0.5% gross metal royalty,” he said.
The company’s other lithium royalties, Seymour Lake and Cancet, continue to show promise, Yurik said, as the company awaits the Seymour Lake preliminary economic assessment targeted for 1Q 2023.
Graphite royalties
Yurik also highlighted the company’s strong portfolio of graphite royalties, with encouraging initial metallurgical results at the Graphite Bull graphite project in Australia.
“Metallurgy is a key technical aspect for graphite projects and the recent achievement of a 99.8% concentrate grade is a testament to the potential of the project,” he said.
He continued: “Northern Graphite, operator of our Bissett Creek royalty, is gearing up to put the project into production as their new flagship graphite mine, targeting eventual production capacities of approximately 100,000 tonnes per year.”
The full portfolio update can be found here.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities that will benefit from the drive toward electrification of a variety of consumer products, including cars, rechargeable batteries, large-scale energy storage, and renewable energy generation.
The company has a growing revenue-generating portfolio of 21 royalties, with one royalty currently subject to closing.
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