Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) CEO Brendan Yurik has updated investors on its current royalty portfolio, noting that the Authier lithium project is nearing production as part of the largest lithium mining operation in Canada.
He noted that production has already commenced at the nearby North America Lithium.
“Upon commencement of commercial production, Authier will become the third producing royalty in our growing portfolio,” Yurik said.
He said that the company has now assembled a portfolio of 21 royalties over the past three years, with its 22nd royalty acquisition subject to completion.
“Since acquisition, these 21 royalties have received approximately $420 million in investments by third parties at no cost to Electric Royalties, with a further $100 million in recently announced financing subject to completion,” he said.
Yurik also highlighted that the company was pleased to see resource upgrades for the Zonia and Millennium copper projects, with the Zonia resource now comprising approximately 75 million short tons in the Indicated category and Millennium boosting tonnage by 42% and grade by 14%.
Continued positive metallurgical results have been released on the Graphite Bull graphite project, with Graphite Bull continuing to make positive advances towards a potential production decision, he added.
Further, Yurik noted there is also promising progress at the Chubb and Bouvier lithium projects in Québec, with both projects being sold to new owners, and the Mont Sorcier iron-vanadium project has a new partner and fresh capital to advance the project.
"Despite the current headwinds in the market, we're more excited than ever to continue creating shareholder value,” the CEO said.
“When we look at the lack of potential future supply of all the clean energy metals required for a green future, we see a once-in-a-lifetime opportunity that is just starting for our industry."
The full royalty 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 such as lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper that will benefit from the drive toward electrification of a variety of consumer products.
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