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Elemental Royalties Announces Record Revenue and Operating Cash Flow in Q3 2021 Results
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2021) - Elemental Royalties Corp. ...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"Elemental Royalties Announces Record Revenue and Operating Cash Flow in Q3 2021 ResultsVancouver, British Columbia--(Newsfile Corp. - November 16, 2021) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) (\"Elemental\" or \"the Company\") is pleased to announce its operating and financial results for the three and nine months ended September 30, 2021. For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the three and nine months ended September 30, 2021, available on SEDAR (www.sedar.com) or the Company's website (www.elementalroyalties.com).Frederick Bell, CEO of Elemental commented: \"Elemental generated record quarterly revenue following maiden production from our operating partner at the Karlawinda gold mine. With the achievement of steady state operations at the end of the quarter, Karlawinda promises to be a cornerstone of Elemental's portfolio for many years to come. Alongside continuing strong operating performance at Wahgnion, Elemental is now repaid for the 2018 acquisition of the 2.25% NSR royalty on Austral Gold's Amancaya gold mine in Chile, making it the second royalty after Kwale to be fully repaid. \"We are also excited to see operator funded exploration efforts start to unearth the value across our portfolio with the announcement from Endeavour of a major multi-year exploration programme at Wahgnion. Exploration success has the potential to deliver material value for shareholders alongside continuing organic revenue growth highlighted by the royalty at the Mercedes mine starting to contribute from July 2022. This combination of growing revenue, continuing discoveries at no cost and royalty acquisition opportunities position the Company with the best platform for growth it has had.\"Asset HighlightsCapricorn Metals (\"Capricorn\") achieved steady-state operations with production of 24,329 gold ounces, with an above budget 92.6% recovery, generating first royalty revenue to Elemental of over A$1 million from sales of 21,921 ounces of gold in Q3 2021.Endeavour announced a discovery target of 1.5 to 2.0 million ounces of Indicated Resources at Wahgnion over the next five years with $5 million spent in Q3, consisting of 31,500 meters of drilling with a continued focus on the extension and expansion of the Nogbele mineralization. Wahgnion produced 34ko...