Electric Royalties Provides Update on Authier Lithium Royalty
VANCOUVER, BC / ACCESSWIRE / March 7, 2023 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce that Sayona Mining Limited (ASX:SYA) ("Sayona") has voluntarily submitted its Authier Lithium Project (or "Authier") for an environmental impact assessment and review under the Québec Government's ‘BAPE' (Bureau d'audiences publiques en environnement) process. According to Sayona's news release dated February 27, 2023, its request has been accepted by Québec's Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks.
The BAPE's mission is assist government decision making by communicating to the environment minister findings and opinions that reflect any local concerns that are based on the principles of the Sustainable Development Act.
Sayona also reported that its nearby North American Lithium ("NAL") operation in Québec, Canada, is on track to recommence spodumene (lithium) production in March 2023. The start up of process operation was reportedly successful, and comprises the circulation of mineralized material through the entire system, from crushing through sorting, grinding and separation. Authier is envisioned by Sayona to become a source of spodumene feed for the NAL concentrator.
As a result, the Authier Project no longer requires its own concentrator or tailings storage, and the planned daily output below the 2,000-tonne threshold has resulted in a considerably reduced environmental impact compared to the original regulatory submission.
Electric Royalties holds a 0.5% gross metal royalty on the Authier Lithium Project.
David Gaunt, P.Geo., a Qualified Person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will 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.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 21 royalties, including two royalties that currently generate revenue. 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 over the next several decades towards a decarbonized global economy.
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