Electric Royalties looks for sustained growth in 2024 after closing large royalty acquisition
May 08, 2024 at 07:57 pm
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Electric Royalties CEO Brendan Yurik joined Steve Darling from Proactive to share details the company has announced the successful closure of the company's previously disclosed transaction to acquire a comprehensive portfolio comprising 18 royalty agreements and 32 lithium properties situated in Ontario.
Yurik elaborated on the portfolio's composition, highlighting its inclusion of 18 royalties and 32 lithium properties. Notably, 31 of the 32 properties are presently under exploration by third parties pursuant to option agreements. Subject to the fulfillment of option payments over the next two and a half years and the exercise of options, each property would transition into royalty interests for Electric Royalties. The company would retain ownership of any properties not transferred to optionees, with the flexibility to re-option, sell, or relinquish such properties. These properties encompass promising land situated on geological trends similar to, and surrounding, significant lithium discoveries in Ontario. Moreover, six out of 24 developed lithium prospects in Ontario with documented reserves or resources are proximate to these properties.
Electric Royalties' acquisition underscores its strategic positioning within the burgeoning lithium sector, capitalizing on the potential of Ontario's lithium resources and reinforcing its commitment to expanding its royalty portfolio in key mining jurisdictions.
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Proactive North America
+1 604-688-8158
na-editorial@proactiveinvestors.com
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Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
Electric Royalties Ltd. is a Canada-based royalty company. The Company is focused on a range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that 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. The Company has a portfolio of 40 royalties across the world and 32 lithium properties in Ontario, Canada. Its royalty portfolio includes Middle Tennessee Zinc Mine, Penouta Mine, Kenbridge, Authier Lithium Project, Seymour Lake Lithium Project, Graphmada Graphite Project and others. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure.