Electric Royalties says increased Penouta royalty strengthens the company's cash generation

About this update from Electric Royalties Ltd.

[{"type":"text","content":"Electric Royalties says increased Penouta royalty strengthens the company's cash generation\n \n \n (NewsDirect)\n \n \n \n \n Electric\nRoyalties CEO Brendan Yurik joined Proactive's Stephen Gunnion\nwith the news that the company has exercised its option to increase\nits royalty interest in the producing Penouta tin-tantalum mine in\nSpain to 1.5% from 0.75% for C$1.25 million. Yurik told Proactive that\nthe additional royalty exposure to the producing mine strengthens the\ncash-generating portion of the company's royalty portfolio of\nclean energy metals. He also said the company is encouraged by the\nprogress that miner operator Strategic Minerals Europe has made in\nimproving operations at Penouta, steadily increasing primary\nconcentrate production and sales. Upon Electric Royalties’ receipt\nof C$1,666,667 in aggregate royalty revenue from the Gross Revenue\nRoyalty, the royalty rate will be reduced to 1.25%. Its royalty rate\nwill be reduced to 1% upon the receipt of $3,333,334 in aggregate\nroyalty revenue. Penouta is the largest producer of tin and tantalum\nin the European Union, producing 121 tonnes in the first quarter of\n2023, according to Electric Royalties.\n \n \n \n Contact\nDetails\n \n \n \n Proactive\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":1657,"tagName":"div"}]

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