Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) has provided updates on several key projects in its royalty portfolio.
"We are happy to report on developments in connection with seven royalties in our portfolio, all coming on the heels of the significant resource upgrade at the Zonia copper project in Arizona,” Electric Royalties CEO Brendan Yurik commented.
“We're encouraged by the portfolio's progress, particularly with regard to Kingsrose Mining's continued investment in the Råna nickel-copper-cobalt project in Norway, having completed its 51% interest earn-in with the intention of spending another A$4 million to increase its interest to 65%.”
Electric Royalties holds a 1% net smelter return on the Råna project.
"The search continues for a partner to bring the Graphmada mining complex in Madagascar back into production,” the CEO added.
“Graphmada is a past producing mine that operated continuously for 20 months and had its product qualified by offtakers prior to being put on care and maintenance due to Covid restrictions.”
At the Battery Hill mangense project, Manganese X Energy is advancing the project by upgrading its metallurgical flow sheet and preparing for a prefeasibility study. A recent sample of high-purity manganese passed tests for EV battery standards.
"There's continued progress on the metallurgy for the Battery Hill manganese project in Canada in preparation, we understand, for a prefeasibility study which would be a major milestone in moving the project forward to production,” Yurik said.
"We are also pleased to note exploration progress at our Ruddy lithium asset in Eastern Canada as well as the Graphite Bull graphite asset in Australia.”
At the Ruddy lithium project, Sultan Resources has identified a priority exploration target at the Ruddy Project's Goldilocks Zone, which is interpreted as containing lithium, cesium, and tantalum.
No active fieldwork was conducted this quarter due to seasonal constraints.
Meanwhile at the Graphite Bull project, Buxton Resources has been drilling to support a mineral resource estimate due in Q4 2024.
Graphite mineralization has been intersected, with test work underway to determine its suitability for use in lithium-ion battery anodes.
The full portfolio update can be found here.
Electric Royalties is a royalty company focused on capitalizing on the growing demand for key commodities like lithium, cobalt, and copper, driven by the global shift toward electrification in industries such as electric vehicles, renewable energy, and energy storage.