Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Electric Royalties outlines highlights from "incredible quarter of growth" across its royalty asset portfolio

% of readers think this story is Fact. Add your two cents.

Electric Royalties Ltd (CVE:ELEC) (OCTMKTS:ELECF) has outlined highlights from what it called an “incredible quarter of growth” for its asset portfolio, which included commodities titan Glencore PLC agreeing to support the development of Mont Sorcier iron and vanadium project in Quebec and a near 100% increase to the resource there.

Electric Royalties has a portfolio of 12 royalties and four more acquisitions in progress. The company aims to take advantage of the demand for a wide range of commodities, such as lithium, vanadium, cobalt, nickel and copper, that are posied to benefit from the green revolution.

“It is an exciting period of growth across our entire royalty portfolio, all of which comes at no dilution to Electric Royalties,” said Brendan Yurik, CEO of Electric Royalties in a statement.

READ: Electric Royalties plans to complete a private placement of up to 25,000,000 units for proceeds of up to $10M 

“This is just the beginning of the transition to clean energy and the rapid conversion to batteries, electric vehicles, energy storage and renewable energy has resulted in unprecedented demand for all the metals in our portfolio. These metals are absolutely critical to the world’s transition to a decarbonized global economy,” Yurik added.

At Mont Sorcier, the firm holds a 1% gross revenue royalty (GRR) on the vanadium.

In May, 2021, operator Vanadium One announced an updated resource estimate, showing the North Zone inferred resource increased from 376 million tonnes (Mt) to 809.1 Mt at 34.2% magnetite, an addition of 433 Mt, or a 115% increase.

In addition, Vanadium One and a subsidiary of Glencore struck an agreement, which will see the latter raise not less than US$10 million, either directly or indirectly, in project financing to support the completion of a bankable feasibility study (BFS) on the project. Such funding is to be secured no later than year-end 2021.

Electric Royalties listed other highlights from its battery metal royalty portfolio as follows:

At its Battery Hill manganese royalty (2% GRR) in New Brunswick, Canada, operator Manganese X has selected a contractor to undertake studies for a Preliminary Economic Assessment (PEA) after a successful drill campaign having made significant progress on metallurgy this past year.

At the Bissett Creek graphite royalty between Ottawa and North Bay, Ontario, where the company has a 1% GRR, operator Northern Graphite has continued to advance ESG initiatives and concentrate studies, with the latter confirming the potentially high value of Bissett Creek’s high carbon, extremely coarse flake deposit.

Elsewhere, at the Authier lithium royalty in Quebec, operated by ASX listed Sayona Mining Ltd (Sayona), where Electric Royalties holds a 0.5% GRR, Sayona raised A$20 million towards finalizing the acquisition of the Canada Lithium mine that would process ore from Authier.

Electric Royalties is focused on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk.

Contact the author at [email protected]

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.