Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) revealed strong growth in its global royalty portfolio since its last asset update in September, including several developments across assets in its battery metals royalty portfolio.
CEO Brendan Yurik told investors that since September, operators of the projects in which the company holds royalties have raised over $40 million for the advancement of those assets, all occurring at no cost or dilution to Electric Royalties.
From well-funded development plans for the Cancet and Seymour Lake projects, to upcoming economic studies at Battery Hill, to the progress on moving Authier and Graphmada toward production, Yurik said 2022 is shaping up to be a “transformational year”.
“It’s been a tremendous year overall with a heavy weighting towards lithium within our current portfolio and lithium prices up substantially this year,” Yurik said in an update to investors.
“We anticipate major catalysts across most of our portfolio in 2022 so despite the robust asset advancement we’ve seen in 2021, we’re expecting 2022 to be even more exciting.”
Highlights of the period include:
Authier Lithium Royalty – Sayona Mining is working on a scoping study to produce spodumene concentrate, stating that they are targeting a start in 2023 by refurbishing the North American Lithium mine and integrating it with the Authier project. Sayona recently completed a 25-hole, 3,908-metre (m) drill program to expand resources at Authier. Promising results from this program include drill hole AL-21-14, located some 250m west of the Authier deposit and potential open pit, returned a spodumene intersection assaying 9m at 1.46% Li2O.
Graphmada Graphite Royalty – Greenwing Resources is currently undertaking a 3,000m drill program to further increase the size of the Graphmada deposit and to progress studies aimed at restarting large scale mining and processing operations.
Cancet Lithium Royalty – Winsome Resources completed an initial public offering (IPO) in November and completed an A$18 million financing to advance the Cancet lithium project in 2022.
Seymour Lake Lithium Royalty – Green Technology Metals, which signed a joint venture agreement to advance the Seymour Lake project earlier this year, completed a A$24 million capital raise and IPO in November and are well funded to advance the asset. Green Technology Metals is currently undertaking a step-out 11 hole, 3,500m diamond drilling program at Seymour Lake.
Bissett Creek Graphite Royalty – Northern Graphite Corporation announced the acquisition of two producing graphite mines which will help support offtake and funding negotiations at Bissett Creek in 2022. Northern Graphite also continued to demonstrate the excellent performance of its Bissett Creek concentrate in battery testing in November.
Battery Hill Manganese Royalty – Manganese X Energy continues to improve the processing of high-grade battery manganese critical for EV/stored energy markets in support of a preliminary economic assessment, which is currently underway.
Electric Royalties was established so that investors could participate in the demand for lithium, vanadium, manganese, tin, graphite, cobalt, nickel, and copper, which is driven by the electrification of consumer products like cars, rechargeable batteries, energy storage, and renewable energy generation.
The company currently has a portfolio of 17 royalties, including one royalty that currently generates revenue, with an additional royalty acquisition in progress.
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