Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) has provided updates on various royalties within its portfolio concerning its lithium, graphite, copper, nickel, and tin assets.
CEO Brendan Yurik said he was pleased about the recent progress, stating: "With another series of positive developments across our royalty portfolio, we are excited to see further confirmation that we have selected strong, fast-moving projects.
“In particular, we are closely following our Penouta, Authier, and Graphmada royalties as potential catalysts for new, near-term cash flows."
The suspended Penouta Tin-Tantalum Mine, under a 1.5% Gross Revenue Royalty, is awaiting a permit appeal decision by May 31.
“Because production levels increased by 20% year-over-year before the suspension of mining last November, and with tin prices up over 30% since that time, a resumption in production could yield important revenue for Electric Royalties,” Yurik added.
Despite a downturn in prices in the lithium market, joint venture partners North American Lithium are also advancing towards steady-state production.
The Authier deposit, over which Electric has a part royalty, is expected to contribute 33% of forecast production and would add to Electric Royalties' lithium-related revenue and push it closer to free cash flow generation, said the statement.
Greenwing Resources, meanwhile, plans to restart the Graphmada graphite mine pending financing, potentially increasing production volumes.
This mine previously operated continuously for over 18 months and could significantly boost Electric Royalties' near-term cash flow with its 2.5% net smelter royalty, indicated Yurik.
Other key updates include the Zonia copper oxide project's progress towards a feasibility study, additional contiguous claims acquired for the Kenbridge nickel project, and exploratory advancements at the Graphite Bull project.