Electric Royalties Provides Asset Update
Electric Royalties Provides Asset Update
VANCOUVER, BC
,
July 15, 2021
/CNW/ -
Electric Royalties Ltd.
(TSXV: ELEC)
("Electric
Royalties" or the "Company")
is pleased to provide an asset update on its current royalty
portfolio.
Brendan Yurik
, CEO of Electric Royalties, highlights
"It's only been a month since our last asset
update in which there was significant progress across most of the Company's portfolio; we now
have several major new updates to announce.
Sayona Mining is steadily advancing the
Authier
lithium project towards production with major
approvals, metallurgy and financing in June and July alone.
Manganese X released a NI 43-101 resource with 50% more tonnage than the previous
estimate at the Battery Hill manganese project. The company also announced that they will be
progressing directly to a Feasibility Study given the extensive work already completed on the
metallurgy in partnership with Kemetco over the past two years.
The Seymour Lake lithium project, on which we acquired a royalty in February of this year, is
now being advanced by an
A$8.7 million
joint venture.
Global Energy Metals has signed a joint venture to advance the Millennium copper-cobalt
project with initial work programs expected to begin this month.
In the past month alone over
$50 million
has been raised by operating partners to fund and
advance assets over which we hold royalties; it's an exciting positive trend across our entire
portfolio and beneficial to Electric Royalties shareholders."
Authier Lithium Royalty, 0.5% Gross Revenue Royalty ("GRR"), operated by ASX listed
Sayona Mining Ltd ("Sayona")
SAYONA OBTAINS COURT APPROVAL FOR NORTH AMERICAN LITHIUM MINE ACQUISITION
(see Sayona news release
June 30, 2021
)
Superior Court of Québec approves Sayona Québec's acquisition of North American Lithium
(NAL).
Sayona to refurbish NAL facilities and integrate operation with Authier Lithium Project to create
a world–scale Abitibi lithium hub.
TESTS CONFIRM
AUTHIER
PRODUCT DELIVERS HIGH PURITY 99.99% LITHIUM
HYDROXIDE (See Sayona news release
July 7, 2021
)
Testing shows
Authier
spodumene capable of being processed into high purity 99.99% lithium
hydroxide.
Novonix Battery Technology Solutions analysing
Authier
product for performance in commercial
lithium–ion batteries.
A$45M FINANCING TO FUND NAL ACQUISITION, ADVANCE ABITIBI LITHIUM HUB (See Sayona
news release
July 12, 2021
)
Oversubscribed Placement of
A$45 million
to institutional investors from
North America
,
Europe
,
Australia
and other jurisdictions with major shareholder Piedmont Lithium subscribing for
A$8M
.
Funds to support acquisition of North American Lithium and advance Abitibi lithium hub in
Quebec, Canada
, amid escalating battery metals demand from
North America's
EV revolution.
Battery Hill Manganese Royalty, 2% GRR, operated by TSXV listed Manganese X Energy
Corporation ("Manganese X")
MANGANESE X ENERGY CORP. (MXE) ANNOUNCES MINERAL RESOURCE ESTIMATE FOR
BATTERY HILL MANGANESE PROJECT (See Manganese X press release
July 7, 2021
)
34.86 million tonnes Measured and Indicated mineral resources grading 6.42% Mn.
Additional 25.91 million tonnes of Inferred mineral resources grading 6.66% Mn[1].
Based on the large inventory of Measured and Indicated mineral resources defined to date,
MXE will move quickly to acquire all information required to bring the project to a Feasibility
Study stage.
Seymour Lake Royalty
, 1.5% NSR, operated by ASX listed Ardiden Limited ("Ardiden")
A$8.7M
OPTION EXERCISED TO FORM LITHIUM JOINT VENTURE (See Ardiden press release
June 23, 2021
)
Option exercised to establish Joint Venture between Ardiden and Great Northern Lithium Pty
Ltd (intended to be renamed 'Green Technology Metals Limited') to progress the Ardiden's
strategically located lithium portfolio in
North America
.
Transaction sets a pathway to develop the JV's portfolio of high grade spodumene lithium
projects, including the Seymour Lake property.
Partnership with world class lithium team with a successful track record of exploring, advancing
and developing lithium projects globally.
Millennium Cobalt Royalty, 0.5% GRR (with an option to buy up to an additional 1%),
operated by TSXV listed Global Energy Metals Corporation ("Global Energy Metals")
GLOBAL ENERGY METALS SIGNS DEFINITIVE OPTION AGREEMENT WITH METAL BANK
LIMITED TO COMMENCE WORK PROGRAM ON THE MILLENNIUM COPPER-COBALT-GOLD
PROJECT IN
QUEENSLAND, AUSTRALIA
(See Global Energy Metals press release
June 28,
2021
)
Global Energy Metals and Metal Bank Limited (ASX:MBK) have signed a formal agreement
granting MBK a 6 month exclusive option to earn-in and joint venture GEMC's Millennium
copper-cobalt-gold project in the heart of Mount Isa,
Queensland
.
Millennium hosts a historical estimate in the inferred category of 5.89MT at 1.08% copper
equivalent[2] across 5 granted mining leases with significant potential for expansion. A qualified
person has not done sufficient work to validate the historical estimate and Electric Royalties is
not treating it as current mineral resources. It is believed that the JORC compliant resource is
relevant and of a reliable nature; however, additional drilling and geological modelling was
recommended in the 2019 report (see below) to upgrade the estimate to be a current resource.
MBK's initial exploration program at Millennium will commence in the first week of July.
______________________________
1
Mineral resources are reported at a cut-off grade of 2.50% Mn within the optimized pit shell. Pit optimization parameters include: pricing of US$1500/tonne for High Purity
Manganese Sulphate Monohydrate (HPMSM) - 32% Mn (HPMSM - 32 %), exchange rate of CDN $1.30 to US$ 1.00, mining at CDN $6.50/t, combined processing and G&A (1000
tpd) at CDN $86.22/t processed and a process recovery of Mn to HPMSM of 65%. Fe content was not included in the pit optimization. The July 7, 2021 news release
references a summary of the mineral resource estimate and states a complete version of the mineral resource estimate (presumably in a technical report) will be posted to
www.sedar.com within 45 days.
David Gaunt
, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed
and approved the technical information in this release.
For further details on Electric Royalties, please visit
www.electricroyalties.com
, contact us at (604)
639-9200 or send us an email at
.
On Behalf of the Board of Directors
Brendan Yurik
Chief Executive Officer
About Electric Royalties Ltd
Electric Royalties is a royalty company established to take advantage of the demand for a wide
range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel & copper) that will
benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable
batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to
increase significantly over the next several years and with it, the demand for these targeted
commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and
projects that will supply the materials needed to feed the electric revolution.
Electric Royalties has a portfolio of 12 royalties and 4 more acquisitions in progress. The Company
plans to focus predominantly on acquiring royalties on advanced stage and operating projects to
build a diversified portfolio located in jurisdictions with low geopolitical risk.
____________________________
2
Estimated under JORC at 0.70% Copper Equivalent (CuEq) cut-off; individual grades are 0.32% Cu, 0.11% Co and 0.11 ppm Au and reported as a historical estimate in a 2019
technical report that is posted on
www.sedar.com
. The CuEq calculation uses commodity prices of Cu: US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag: US$20/oz.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company
Information
This news release includes
information regarding other companies based on previously disclosed
pubic information disclosed by those companies and the Company is not responsibility for the
accuracy of that information, and that all information provided herein is subject to this FLI
cautionary. This news release also includes
forward-looking information and forward-looking
statements (collectively, "forward-looking information") with respect to the Company and these
other companies and within the meaning of Canadian securities laws. Forward looking information
is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to future events. This information
represents predictions and actual events or results may differ materially. Forward-looking
information may relate to the Company's future outlook and anticipated events or results or those
of these other companies and may include statements regarding the Company's financial results,
future financial position, expected growth of cash flows, business strategy, budgets, projected
costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth
opportunities or those of these other companies.
While management considers these assumptions to be reasonable, based on information
available, they may prove to be incorrect. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Company or these other companies to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking statements.
These risks, uncertainties and other factors include, but are not limited to risks associated with
general economic conditions; adverse industry events; marketing costs; loss of markets; future
legislative and regulatory developments involving the renewable energy industry; inability to
access sufficient capital from internal and external sources, and/or inability to access sufficient
capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market
volatility, income tax and regulatory matters; the ability of the Company or any of these other
companies to implement its business strategies including expansion plans; competition; currency
and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR and those of these other
companies, or equivalent public filings for a more complete discussion of all applicable risk factors
and their potential effects, copies of which may be accessed through the Company's profile page
at
www.sedar.com
.
SOURCE
Electric Royalties Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2021/15/c6674.html
%SEDAR: 00043061E
For further information:
Electric Royalties Ltd., Brendan Yurik, Tel: (604) 364-3540,
[email protected], www.electricroyalties.com
CO: Electric Royalties Ltd.
CNW 07:45e 15-JUL-21