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Electric Royalties : Provides Royalty Portfolio Update

01/22/2021 | 09:05am
(MT Newswires) -- Electric Royalties Ltd. (ELEC.V) on Friday provided an asset update on its current royalty portfolio including the Financial Investment Review Board (FIRB) approval for the acquisition of three previously announced cobalt royalties in Australia.

The company provided an update on the Authier Lithium Royalty, 0.5% Gross Revenue Royalty (GRR), operated by ASX listed Sayona Mining. New field work is underway at Sayona's Authier Lithium Project, as Sayona progresses various environmental and geotechnical studies. The flagship project is to form key part of the Abitibi lithium hub. Sayona has also awarded all critical follow-up work contracts to address feedback on the EIS.

Other projects that Electric Royalties provided an update on are: Mont Sorcier Vanadium Royalty (1% GRR); Battery Hill Manganese Royalty, (2% GRR); Bissett Creek Graphite Royalty, (1% GRR) and Millennium Project Cobalt Royalty, (0.5% GRR). The latter has also obtained Australian regulatory (FIRB) approval for the sale of the cobalt royalties to Electric Royalties.

Brendan Yurik, CEO of Electric Royalties said, "I'm excited to give our first corporate asset update as a newly public royalty company. The operators of our royalty assets have made significant progress over the past year and are moving their projects steadily onwards to production. The advancement of the projects increases the value of our royalties without requiring us to outlay additional capital and is one of the most overlooked benefits of the royalty business model. I look forward to adding more royalties to our portfolio over the next few months and what 2021 will bring for our current portfolio".

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