Electrical Royalties (TSXV:ELEC) is asserting a possible C$100 million financing from the federal government of Canada into the Seymour Lake lithium mission in Ontario, on which it holds a 1.5 per cent internet smelter royalty
The property homes a mineral useful resource estimated at 10.3 million tons grading 1.03 per cent lithium oxide, with manufacturing slated for 2026
Electrical Royalties is a royalty firm capitalizing on demand for commodities positioned to learn from the vitality transition
Electrical Royalties inventory has given again 36 per cent year-over-year and over 40 per cent since inception in 2020
Electrical Royalties (TSXV:ELEC) is asserting a possible C$100 million financing from the federal government of Canada into the Seymour Lake lithium mission in Ontario, on which it holds a 1.5 per cent internet smelter royalty. The property boasts a mineral useful resource estimate of 10.3 million tons grading 1.03 per cent lithium oxide, with manufacturing slated for 2026.
Inexperienced Know-how Metals (ASX:GT1), Seymour Lake’s operator, obtained a letter of intent from Export Growth Canada on December 22 relating to the financing, which might be structured as direct-lending debt.
Export Growth Canada is a Crown company devoted to financing Canadian exporters. It has closed over 540 transactions spanning renewable vitality know-how, utilities, vitality, mining, telecom and infrastructure.
A last settlement between the federal government and Inexperienced Know-how Metals stays topic to due diligence, together with an environmental and social evaluation.
Inexperienced Know-how Metals is receiving “sturdy curiosity from extra world business lenders,” based on Tuesday’s information launch, “forming a basis for a diversified financing construction which it anticipates finalizing in 2025, together with a feasibility research that’s already underway.”
Management insights
“The letter of curiosity from Export Growth Canada for as much as C$100 million in financing assist represents a significant step ahead for Inexperienced Know-how Metals’ Seymour lithium mission,” Brendan Yurik, chief govt officer of Electrical Royalties, stated in a press release. “This announcement might assist speed up the mission’s growth, reinforcing its trajectory to turn into Ontario’s first lithium producer and solidifying its position in Canada’s vital minerals provide chain.”
About Electrical Royalties
Electrical Royalties is a royalty firm capitalizing on demand for commodities positioned to learn from the vitality transition, together with lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper. The corporate’s portfolio holds 41 royalties targeted on advanced-stage and working tasks in jurisdictions with low geopolitical threat.
Electrical Royalties inventory (TSXV:ELEC) final traded at C$0.16 per share. The inventory has given again 36 per cent year-over-year and over 40 per cent since inception in 2020.
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(High picture of the Seymour Lake lithium mission in Ontario: Inexperienced Know-how Metals)
