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Elemental Royalties Announces Strong Revenue and Operating Cash Flow in Q1 2022 Results
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2022) - Elemental Royalties Corp. (TSXV...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"Elemental Royalties Announces Strong Revenue and Operating Cash Flow in Q1 2022 ResultsVancouver, British Columbia--(Newsfile Corp. - May 19, 2022) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) (\"Elemental\" or \"the Company\") is pleased to announce its operating and financial results for the three months ended March 31, 2022. For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the three months ended March 31, 2022, available on SEDAR (www.sedar.com) or the Company's website (www.elementalroyalties.com).Frederick Bell, CEO of Elemental commented: \"The timing of the unsolicited approach that Elemental received was no coincidence; 2022 is forecast to deliver a 50-80% increase in Gold Equivalent Ounces and represent another consecutive record year for the Company. We have seen the Mount Pleasant royalty start to contribute meaningfully in Q1 and expect the additions of the Ming gold stream in Q2 and Mercedes royalty in Q3 to further accelerate our growth.\"The announcement in the quarter of the Company's first gold stream on Rambler's Ming copper-gold mine in Newfoundland further broadens Elemental's portfolio of producing assets and opens up a new avenue for business development directly with mine operators. Post quarter-end we were very pleased to close the acquisition with the support of a new institutional shareholder through an over-subscribed non-brokered private placement.\"Alongside a solid quarter of production across our royalties, we are particularly excited to see exploration underway across some of our major assets that will continue to demonstrate the upside potential for shareholders at no cost to Elemental.\"Asset HighlightsAnnounced acquisition of a 50% gold stream on Rambler Metal and Mining's Ming copper-gold mine in Newfoundland, Canada. The stream steps down to 35% of payable gold production after 10,000 ounces are delivered and then 25% once 15,000 ounces are deliveredFirst material revenue from Mount Pleasant royalty following start of mining at Tuart underground mine. Tuart forms part of Zijin Mining's Paddington Operation in Western Australia and is operated by fully owned subsidiary Norton GoldfieldsRecord quarterly gold production at Capricorn's Karlawinda mine alongside commencement of a 129 hole, 29,500 metre near-mine RC drill ...