Latest news with #Concentrate
The Irish Sun
24-07-2025
- Lifestyle
- The Irish Sun
Here's how to keep your hair smooth, sleek and healthy this summer – according to an expert
KEEPING your hair healthy and manageable is no mean feat during the summer. Whatever your biggest hair complaints are, the combination of warmer weather, humid air, and sunlight can throw our hair off-kilter all summer long. 5 Beauty Writer Mia's head over heels for Aveda's new hair oil Tackling frizz in humid climates can feel like a losing battle, as can dryness and brittleness, which is often caused by UV light from the sun. During the summer, you'll not only spend more time outdoors (British weather dependent!), but also more time fussing over and heat styling your hair, with events, weddings and holidays on the horizon. So, it's important to get to grips with a routine that not only keeps your hair looking and feeling its best, but one that'll keep it protected, too. For protection, UV mists are your ultimate companion, and work in a similar way to the sunscreen you use on your body. Simply spritz a formula like READ MORE IN BEAUTY When it comes to keeping hair smooth and sleek, you have plenty of options, but a product I currently swear by is the new 5 I've been using Aveda Hair Oil this summer Credit: SUPPLIED Aveda Miraculous Oil High-Shine Hair Concentrate, £34 This lightweight, aromatic hair oil can be used on all hair types, and promotes shine, nourishment and frizz protection - so in other words, it's a summer saviour. I apply three to four drops to my long, thick hair after washing, and it leaves it noticeably softer and ready for heat styling, thanks to its 232°C thermal protection. Most read in Fabulous But don't just take my word for it - we asked 5 Antoinette Beenders, Aveda Global Artistic Lead, shares her advice Credit: AVEDA What is a hair oil, how should you apply it, and what are the benefits of using one? I'd recommend using a hair oil when you want to nurture smooth hair or add shine to your 'do. You can use an oil to nourish and provide hydration, but everyone has different hair and needs a different amount of oil, so it's all about getting the balance right. For a product like Apply a couple of drops of product, depending on your hair density, length and pattern. This is all bespoke to you, so build it up slowly and see how much your hair can take. Finish your routine by blow-drying or airdrying. Blow-drying will provide the best results, because it helps the product absorb into the hair. For the ultimate shine, blow-dry and straighten your hair to really seal it in. Is there anything else we can do to ensure smooth, sleek hair? My top tip is to use a nozzle on your blowdryer to concentrate the airflow. The wider and the narrower the nozzle, the more concentration you'll have on the hair, and the smoother it will be. One word of warning - keep the nozzle a couple of inches away from hair or you'll burn it. Adjust the heat to suit the quality of your hair - if your hair is very coarse, porous or damaged, go easy on the heat. You can have a lot of speed or airflow, but not heat - and it's the same with your straightening iron, too. 5 Using a hairdryer nozzle can be a game-changer Credit: AVEDA My hair always gets dry and knotty on holiday, what can I do to keep it healthy? Often, people will go to the beach and into the sea - which is full of salt water that dries your hair out - then they'll go and bake in the sun. If you do this without applying a protective hair product, you'll end up with fried hair. I'm a firm believer in using hair masks during the summer. If I were on holiday myself, I'd apply one every night after a day in the sun. Plus, the minute you come out of the sea, jump under the shower and get that salt water out of your hair. Before you go on holiday, I also recommend investing in a pre-shampoo bonding treatment, such as 5 Nourishing treatment like hair oils can be applied to damp hair Credit: AVEDA What hair products or rituals do you swear by during the summer? I love a good cut, because I come from the trade and I like individualism, so the first thing I do when I come to London is go to the salon. Your ultimate haircut should be a reflection of your personality. If you're a shy person, you probably won't want short bleached blonde or red hair, but instead something a little longer that you feel comfortable with. I'm quite chatty, and would look crazy with long hair - it just wouldn't be me - so, instead, I keep my hair shorter and blonde. I travel a lot, and there's different water all over the world, which can sometimes make my blonde hair go a bit yellow, so I use new If you have extensions that go a bit yellow from smoky environments, this shampoo will do the trick on them, too. What are the biggest hair trends you're seeing this summer? Traditionally, spring is all about going shorter. I've seen a lot of people chopping their hair off recently, and there are a lot of bobs around. However, this summer, we're seeing a return of the fringe. I recently gave a client a Birkin bang fringe. This look has a softness to it and is lower maintenance than other fringes, bringing the focus to the eyes rather than forehead. If you want to find out how a fringe will look on you, put your hand over your forehead and see where your focus is drawn to. If you like the look of it, it's time for a fringe! How To Save Money On Beauty Buys IF your purse is feeling tighter than ever before and you're looking to save cash on your make-up routine, have you ever thought of trying out beauty dupes? Here are five of the best recommended beauty buys that are almost identical to the posh versions, but at a fraction of the price. FACE BASE If you can't afford Charlotte Tilbury's £52 Magic Cream, why not try a TONE IT UP If Drunk Elephant's £62 Protini Cream is out of your price range, you'll need to check out TINTING IT With Fenty's game-changer skin tint costing £29, a popular supermarket's affordable alternative might just be the thing for you. GET COVERED At £29 for a Tarte concealer, the new Primark dupe is much more affordable at just £3.50. SPRAY YAY For those wanting to smell fresh without the price tag,
National Post
30-04-2025
- Business
- National Post
Lithium Royalty Corp. Announces First Quarter 2025 Results
Article content LRC royalty revenue continues to outperform the broader lithium pricing cycle, with approximately flat revenue year-over-year despite a 17% decline in spodumene prices Ganfeng Lithium inaugurated Mariana Lithium project in Salta, Argentina during the quarter; first cash flow from the project anticipated in 2025 Multiple near-term catalysts across the portfolio: Zijin expects to start production of Tres Quebradas in 3Q25 and Sigma estimates first production from Phase 2 expansion before year-end 2025 Strong balance sheet with $31.9 million of cash and no debt, enhancing LRC's ability to pursue high-quality royalty opportunities at attractive valuations Article content Article content (in thousands of U.S. dollars unless otherwise noted) Article content TORONTO — Lithium Royalty Corp. (TSX: LIRC) ('LRC' or the 'Company') announces first quarter 2025 results Article content 'LRC's diversified business model with assets continuing to enter production and ramp up to nameplate is insulating us from the severe price declines in the sector. As the sector recalibrates, the portfolio is continuing to mature, setting up the company for success for the eventual lithium cycle recovery. The low-price environment for the sector has made acquisition opportunities more available and we are actively reviewing opportunities for growth,' stated Ernie Ortiz, President and CEO of LRC. Article content LRC is reporting 63 Lithium Carbonate Equivalent Tonnes (LCEts) or 740 Spodumene Concentrate Equivalent Tonnes (SCEts) in the quarter 1, compared to 61 LCEts or 787 SCEts in the prior quarter. Article content For the three months ended March 31, 2025 2024 Variance % Royalty revenue $ 629 $ 631 $ (2 ) 0 % Depletion (115 ) (142 ) 27 19 % Gross profit $ 514 $ 489 $ 25 5 % General and administrative expenses (1,921 ) (1,636 ) (285 ) (17 %) Net loss for the period $ (870 ) $ (1,045 ) $ 175 17 % Income tax recovery (253 ) (163 ) (90 ) (55 %) Finance loss income – (62 ) 62 100 % Depletion 115 142 (27 ) (19 %) EBITDA $ (1,008 ) $ (1,128 ) $ 120 (11 %) Foreign exchange (gain) / loss (15 ) 30 45 One-time share-based compensation 83 436 (353 ) Other non-recurring gains 2 (159 ) – (317 ) Adjusted EBITDA $ (1,099 ) $ (662 ) $ (437 ) Article content Royalty revenue was $0.6 million for the three months ended March 31, 2025, consistent with the same period last year. Volumes shipped by the Company's operators during the quarter was higher in 2025 but the impact was offset by the decrease in lithium price. Article content At March 31, 2025, LRC held $ 31.9 million of cash and had no debt. Article content Portfolio Updates Article content Zijin Mining Tres Quebradas Royalty: On March 23, Zijin released its 2024 annual report, reaffirming that the Tres Quebradas lithium project in Argentina remains on track to commence production in 3Q25. Phase 1 is expected to produce 20,000 tonnes of lithium carbonate equivalent (LCE) annually. The project contains approximately 8.3 million tonnes of LCE in total resources. Construction of Phase 2, which will add a further 30,000 tonnes of annual production capacity, is progressing well. LRC holds a 0.75% GOR royalty on the Tres Quebradas project Article content Sigma Lithium Grota do Cirilo Royalty: On March 31, Sigma Lithium provided a construction progress update on their Phase 2 expansion. Sigma concluded procurement of long-lead time items, continued detailed engineering and completed earthworks and foundation construction, on track to commission the expansion in 4Q 2025. Sigma previously guided to producing 30,000 tonnes from their Phase 2 plant in 2025 and 250,000 tonnes annually beginning in 2026, for a total 2026 production of 520,000 tonnes. LRC holds a net 0.9% NSR royalty on the Grota do Cirilo project. Article content Delta Lithium Yinnetharra Royalty: On March 31, Delta Lithium provided an updated mineral resource estimate (MRE), as well as a maiden tantalum resource. The lithium resource now consists of 16.1Mt indicated mineral resource at 1.0% Li 2 O and 5.8Mt inferred mineral resource at 0.9% Li 2 O, based on a 0.5% Li2) cut off grade. In addition, the tantalum resource consists of 10.4Mt at 122ppm indicated mineral resource and 7.1Mt at 156ppm tantalum oxide (Ta 2 O 5) inferred mineral resource, based on a cut off grade of 65ppm. LRC holds a 1.0% GOR royalty on the Yinnetharra project, which includes the Malinda deposit. Article content Power Metals Case Lake Royalty: On April 14, Power Metals announced it achieved high-grade concentrate from Phase 2 ore-sorting, including a cesium concentrate grading 18.57% Cs₂O. These results help demonstrate cost-effective production of bulk cesium concentrate, which will be included in their upcoming Preliminary Economic Assessment (PEA), expected in 2Q25. Power Metals also reaffirmed their MRE is nearing completion, and is expected to be released in the coming weeks. Power Metals' disclosures highlight their goal of commencing cesium production in 3Q26. Cesium continues to see strong interest due to its applications in energy, aerospace and defense. LRC holds a 2.0% GOR royalty on all minerals extracted from the Case Lake project. Article content Green Technology Metals Root Lake Royalty: Green Technology Metals announced an optimized PEA on their Root Lake project. The PEA evaluated the Root Lake project on a standalone basis and considered the recently updated Root project MRE, revised pit optimizations and mine development options and changed lithium market conditions. The PEA contemplated production of 213,000 tonnes per year of 5.5% spodumene concentrate over the project mine life. The immediate focus for the Root Lake project will be advancing permitting and consultation activities in parallel with the Pre-Feasibility Study (PFS). LRC holds a 1.0% GOR royalty on the Root Lake project. Article content Winsome Resources Adina Royalty: On April 14, Winsome Resources provided an update on its Adina Lithium project, reaffirming its commitment to advancing the project, despite ongoing market headwinds. Winsome is progressing with environmental permitting, including feedback expected shortly on its Environmental and Social Impact Assessment (ESIA) submission, and continues key trade-off studies to optimize project design and costs. Winsome also extended its exclusive option on the Renard Operation to August 2025, reinforcing its strategy to integrate Adina to optimize capital by making use of existing infrastructure. LRC holds a 4.0% GOR royalty on the Adina project. Article content Core Lithium Finniss Royalty: During the quarter, Core reaffirmed their restart study is progressing well and is on track for completion in the 2Q25. Metallurgical test work and studies are being completed with the aim of increasing future recoveries, yield and capacity of the dense media separation (DMS) plant. Work completed to-date has explored opportunities to optimize the process flowsheet without the need to install a floatation circuit. Any future restart decision remains subject to the outcomes of the restart study, market conditions, and the approval by Core Lithium's Board for the Final Investment Decision (FID). LRC holds a 2.5% GOR royalty on the Finniss project. Article content Sinova Global Horse Creek Royalty: During the quarter, Sinova Global closed an interim financing with their largest shareholder, Vision Blue Resources. The funding will allow Sinova to move forward with final pre-production improvements to the Horse Creek project. Sinova is targeting first production of quartz in 2025. LRC holds a GOR royalty on the Horse Creek project assessed at 8.0% on revenues less than US$45 million and 4.0% on revenues greater than $45 million. Article content Atlas Lithium Das Neves Royalty: On March 7, Atlas Lithium announced that its modular dense media separation (DMS) lithium processing plant had arrived in Brazil from South Africa. Once fully operational, the Das Neves facility is expected to produce 150,000 tonnes per annum (tpa) for Phase 1 of operations. Atlas received the operational permit for the first phase of the Das Neves project in October 2024. SGS has been engaged to complete a Definitive Feasibility Study (DFS), anticipated to be released mid-year 2025. LRC holds a 3.0% GOR royalty on the Das Neves project. Article content Sayona Mining Moblan Royalty: In April, Sayona released further results from its 2024 drill program at Moblan. The results included 28,500 meters of drilling, which both demonstrated new thick and high-grade intercepts outside the 2024 mineral resource estimate and strong continuity within the current pit shells. Assay results are pending for an additional 39,000 meters of drilling. In total, the 2024 program consisted of 76,000 meters of drilling, which builds upon the previous 130,000 meters of drilling on which the 2024 resource was based. Sayona commented that these latest results, along with pending assays, will be incorporated into a future mineral resource and reserve updated estimates, expected by August 2025. LRC holds a 2.5% GOR royalty on the Moblan project. Article content Lithium Market Article content Lithium end markets continued to show strong momentum in the first quarter of 2025, driven by solid growth in electric vehicle (EV) sales and robust demand for energy storage systems (ESS). EV sales growth in the quarter was led by Europe, followed by China, while the ESS sector benefited from both structural demand and pre-buying activity in response to tariff uncertainty. Article content In China, wholesale new energy vehicle (NEV) sales rose 42% year-over-year (y/y). BYD recorded one of the strongest performances, selling over 1 million vehicles during the quarter. BYD is targeting over 30% volume growth this year, with a goal of 5.5 million vehicles sold in 2025. The Chinese market also saw continued momentum from new, affordable EV models such as Xiaomi's SU7. Article content European EV sales surged at the start of the year, underpinned by the launch of lower-cost models. UK battery electric vehicle (BEV) sales rose 43% y/y in 1Q25. Meanwhile, BEV sales in Germany increased by 39%, Italy 72%, and Spain 59%. Despite recent updates to CO 2 emissions legislation, product innovation and competitive pricing are driving consumer adoption. Additionally, several Chinese automakers are establishing manufacturing facilities across Europe, with vehicle deliveries expected to begin by early 2026 – further supporting future growth. Article content In the U.S., EV sales increased 11% y/y in 1Q25, according to Cox Automotive. New releases, such as the Porsche Macan and Chevy Equinox EV, are gaining traction, and General Motors nearly doubled its EV sales from the prior year. While sales at the start of the year have been encouraging, potential changes to EV subsidies may introduce some volatility in the months ahead. Article content Energy storage remains the fastest-growing segment of the lithium market, now accounting for approximately one-fifth of global lithium demand. Industry forecasts project ESS demand to grow by more than 50% in 2025, even after accounting for tariff-related headwinds. Tesla announced 10.4GWh of energy storage deployments in 1Q25, which grew 157% y/y and 5% quarter-on-quarter (q/q), demonstrating strong growth in their ESS segment. Analysts expect the ESS battery market to exceed 2TWh by 2030 – a nearly tenfold increase from 2024 levels. Article content Spodumene prices have stabilized between $700 – $900/tonne since mid-2024. In 1Q25, Shanghai Metals Market (SMM) reported an average CIF China spodumene price of $834/tonne – down 17% y/y, but up 6% from the prior quarter. As of April 29, 2025, prices stood at $773/tonne. Current pricing remains below reinvestment thresholds and within the global cost curve, prompting over 10% of global supply to be curtailed. Capital expenditure plans across the industry have been significantly scaled back. According to Fastmarkets, lepidolite and recycling projects are operating at negative margins, while profitability for brine and spodumene projects have also declined. As a result, supply growth is expected to moderate. Article content Q1 2025 Conference Call Details Article content Date: April 30, 2025 Time: 10:00 AM EST Local – New York (+1) 646 564 2877 Local – Toronto (+1) 289 819 1520 Toll Free – North America (+1) 800 549 8228 Conference ID: 93494 Webcast: Article content Shareholder Information Article content The Consolidated Financial Statements and Management's Discussion & Analysis are available on our website and SEDAR+. Article content About Lithium Royalty Corp. Article content LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Article content Forward Looking Statements Article content This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, Article content expected mining sequences, business prospects and opportunities, the performance and plans of third party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'potential for', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Article content A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have 'passive foreign investment company' ('PFIC') status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. Article content For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under 'Risk Factors' in the Annual Information Form, and in particular risks summarized under the 'Risks Related to Mining Operations' heading. Article content This earnings release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, the non-IFRS measures should not be considered in isolation or as substitutes for analysis of the financial information reported under IFRS. Article content EBITDA is a common metric used by investors and analysts to assist in their valuation of the Company. EBITDA is a non-IFRS financial measure, which excludes the following from net earnings: Article content income tax expense and recovery; finance costs, netted against finance income; and depletion, depreciation and amortization. Article content In addition to EBITDA, we have determined that the following adjustments are necessary to arrive at Adjusted EBITDA, which we believe is a more accurate indicator of the Company's ongoing operational performance: Article content impairment charges and reversals; gain/loss on sale/disposition of assets/mineral interests; foreign currency translation gains/losses; increase/decrease in fair value of financial assets; expenses related to one-time share-based compensation granted at IPO other non-recurring income and charges. Article content Management believes that EBITDA and Adjusted EBITDA are valuable indicators of our ability to generate liquidity by producing operating cash flow to fund working capital needs and fund acquisitions. These metrics are also frequently used by investors and analysts for valuation purposes, whereby the metrics are multiplied by a factor or 'multiple' that is based on an observed or inferred relationship between Adjusted EBITDA and market values to determine the approximate total enterprise value of a company. LRC believes these measures assist investors, analysts and our shareholders to better understand our ability to generate liquidity from operating cash flow, as LRC believes that the excluded amounts are not indicative of the performance of our core business and do not necessarily reflect the underlying operating results for the periods presented. Article content Three months ended March 31, 2025 2024 Net loss $ (870 ) $ (1,045 ) Income tax recovery (253 ) (163 ) Finance income – (62 ) Depletion 115 142 EBITDA $ (1,008 ) $ (1,128 ) Foreign exchange (gain) / loss (15 ) 30 One-time share-based compensation 83 436 Other non-recurring gains 3 (159 ) – Adjusted EBITDA $ (1,099 ) $ (662 ) Article content 3 Non-recurring gains include the gain on disposition of royalty interest and expenses incurred due to the Substantial Issuer Bid. Article content _____________________________________ 1 LRC calculates LCEts and SCEts by dividing royalty revenue for each quarter by the average spot market price during the quarter for the relevant commodity, delivered in China. The average spot market prices for 99.5% lithium carbonate for the relevant quarters were:; Q4 2024 – $10,244, Q1 2025 – $10,041. The average spot market prices for 6% spodumene concentrate, delivered to China for the relevant quarters were: Q4 2024 – $789, Q1 2025 – $850. Spot market prices were based on Benchmark Minerals data on Bloomberg. 2 Non-recurring gains include the gain on disposition of royalty interest and expenses incurred due to the Substantial Issuer Bid. Article content Article content Article content Article content Contacts Article content Article content Article content
