Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) revealed several new developments in its global royalty portfolio that set the stage for near term production at a few of the properties.
CEO Brendan Yurik told investors that the company has seen “an incredible period of growth” over the past few months throughout its battery metals royalty portfolio.
Among the larger developments, Electric Royalties said that Australia’s Sayonara Mining Limited has completed its acquisition of North American Lithium, giving it ownership of the Authier Lithium project where Electric owns a 0.5% gross revenue royalty.
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Sayonara is outlining its path to production for its new Quebec lithium projects, of which Authier is a cornerstone property, according to Vancouver-based Electric.
Other developments include successful drill programs at the Millennium copper-cobalt project and the Chubb lithium project, and preparations for a preliminary economic assessment at the Battery Hill manganese project.
Electric owns a 0.5% gross revenue royalty at Millennium and a 2% gross revenue royalty at both the Chubb and Battery Hill projects.
"It is tremendously encouraging to see the constant positive news flow being generated by operators across our royalty portfolio at all levels of development,” CEO Yurik said in a statement.
“From progressive drill programs on our earlier stage royalties such as Millennium and Chubb, where they are actively drilling the projects to test and expand deposits, to Sayona completing its acquisition of (North American Lithium) and putting Authier on a path to production in the near term, the value potential of our royalties is accelerating, and funded at no cost to Electric Royalties."
Electric Royalties owns a portfolio of 17 royalties, including one royalty that currently generates revenue.
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