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Business Wire
4 days ago
- Business
- Business Wire
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
TORONTO--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ('LRC') is pleased to congratulate Power Metals Corp. ('Power Metals') on its maiden mineral resource estimate ('MRE') for the West Joe Dyke within the Case Lake property in Ontario. The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs 2 O), with a cut-off grade of 0.1% Cs 2 O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. 'The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year,' said Ernie Ortiz, President and CEO of LRC. 'With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp.' Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Key Highlights Power Metals Case Lake Project: Power Metals released their maiden mineral resource estimate at the Case Lake property of 13,000 tonnes inferred mineral resource at 2.4% Cs 2 O with a cut-off grade of 0.1% Cs 2 O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Other assets with cesium exposure in the LRC portfolio include: Winsome Resources' Sirmac-Clapier Project: Winsome announced that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Grid Metals Donner Lake Project: Grid Metals announced the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ('Tanco'), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Cesium Market Overview Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Defense: Night vision imaging, specialty glass Communication: 5G, fiber optic communication, ion cloud communication Emerging energy: novel energy generation including magneto-fluidic and thermo-ionic conversion Medical: medical imaging equipment, pharmaceutical production Aerospace: GPS satellite constellations and civilian and military navigation The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. About Lithium Royalty Corp. 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. Forward Looking Statements 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, 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. 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 and cesium 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 and cesium 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. 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.
Yahoo
4 days ago
- Business
- Yahoo
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
TORONTO, June 05, 2025--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ("LRC") is pleased to congratulate Power Metals Corp. ("Power Metals") on its maiden mineral resource estimate ("MRE") for the West Joe Dyke within the Case Lake property in Ontario. The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs2O), with a cut-off grade of 0.1% Cs2O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. "The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year," said Ernie Ortiz, President and CEO of LRC. "With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp." Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Key Highlights Power Metals Case Lake Project: Power Metals released their maiden mineral resource estimate at the Case Lake property of 13,000 tonnes inferred mineral resource at 2.4% Cs2O with a cut-off grade of 0.1% Cs2O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Other assets with cesium exposure in the LRC portfolio include: Winsome Resources' Sirmac-Clapier Project: Winsome announced that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Grid Metals Donner Lake Project: Grid Metals announced the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ("Tanco"), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Cesium Market Overview Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Defense: Night vision imaging, specialty glass Communication: 5G, fiber optic communication, ion cloud communication Emerging energy: novel energy generation including magneto-fluidic and thermo-ionic conversion Medical: medical imaging equipment, pharmaceutical production Aerospace: GPS satellite constellations and civilian and military navigation The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. About Lithium Royalty Corp. 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. Forward Looking Statements 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, 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. 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 and cesium 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 and cesium 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. 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. View source version on Contacts Jonida ZaganjoriInvestor Relations(647) 792-1100jonida@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Lithium Royalty Corp. Announces Voting Results
TORONTO, May 28, 2025--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ("LRC") announced the successful election of each of the director nominees listed in the management proxy circular for the annual and special meeting of shareholders held today. The detailed voting results are set out below: Director Nominee Votes For % for Votes withheld % withheld Blair Levinsky 49,500,051 99.9% 4,846 0.1% Ernie Ortiz 49,499,651 99.9% 5,246 0.1% Mark Wellings 48,915,251 98.8% 589,646 1.2% Elizabeth Breen 49,423,026 99.8% 81,871 0.2% John Kanellitsas 48,832,813 98.6% 672,084 1.4% Jesal Shah 49,498,803 99.9% 6,094 0.1% Tamara Brown 49,503,451 99.9% 1,446 0.1% Shareholders also appointed KPMG LLP, as the independent auditor of LRC, for the next year and the directors were authorized to fix its remuneration. Auditor Votes for % for Votes Against % Against KPMG LLP 49,555,875 99.9% 1,469 0.1% In addition, shareholders approved the renewal of the Company's omnibus equity incentive plan and all unallocated awards thereunder. Resolution Votes for % for Votes Against % Against Omnibus Plan 49,495,974 99.9% 8,923 0.1% A report on all items of business voted at the Annual and Special Meeting of Shareholders has been filed on SEDAR+. About Lithium Royalty Corp. 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. View source version on Contacts Jonida ZaganjoriInvestor Relations(647) 792-1100jonida@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
30-04-2025
- Business
- Business Wire
CORRECTING and REPLACING Lithium Royalty Corp. Announces First Quarter 2025 Results
TORONTO--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions. The updated release reads: LITHIUM ROYALTY CORP. ANNOUNCES FIRST QUARTER 2025 RESULTS 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 inaugurates Mariana lithium project in Salta, Argentina during the quarter; first cash flow from the project anticipated in late 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 (in thousands of U.S. dollars unless otherwise noted) Lithium Royalty Corp. (TSX: LIRC) ('LRC' or the 'Company') announces first quarter 2025 results. 'LRC's diversified business model, with assets continuing to enter production and ramp up to nameplate, is insulating us from low lithium prices. As the sector recalibrates, our royalty portfolio is continuing to mature, setting up the Company for the eventual lithium cycle recovery or benefitting from robust cash flows at current commodity prices as our existing projects ramp up and new projects come online in a regular cadence through the balance of the decade. The low-price environment for the sector has improved access to attractive acquisition opportunities and we are actively exploring opportunities for growth,' stated Ernie Ortiz, President and CEO of LRC. 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. Financial Highlights 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 were higher in 2025, but the impact was offset by the decrease in lithium price. At March 31, 2025, LRC held $ 31.9 million of cash and had no debt. Portfolio Updates 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 5.4 Mt LCE measured and indicated mineral resource at 647 mg/L based on a grade cut-off of 400 mg/L. Construction of Phase 2, which is expected to add a further 30,000 tonnes of annual production capacity, is progressing well. LRC holds a 0.9% GOR royalty on the Tres Quebradas project. 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, and has confirmed that it is 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 expected 2026 production of 520,000 tonnes. LRC holds a net 0.9% NSR royalty on the Grota do Cirilo project. 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% Li 2 O 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. 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 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. 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. 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 plant 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. Core Lithium Finniss Royalty: During the quarter, Core Lithium reaffirmed that 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 a final investment decision ('FID'). LRC holds a 2.5% GOR royalty on the Finniss project. 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. 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. 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 that was the basis for the 2024 resource. Sayona commented these latest results, along with pending assays, will be incorporated into a future mineral resource update and updated reserve estimate, expected by August 2025. LRC holds a 2.5% GOR royalty on the Moblan project. Lithium Market Lithium end markets continued to show momentum in the first quarter of 2025, driven by 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. 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. 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, in Germany, BEV sales increased by 39%, Italy 72%, and Spain 59%. Despite recent updates to CO 2 emissions legislation, product innovation and competitive pricing are driving consumer uptake. Additionally, several Chinese automakers are establishing manufacturing facilities in Europe, with vehicle deliveries expected to begin by early 2026 – further supporting future growth. 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. 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. 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. Qualified Persons The technical and scientific information contained in this news release was reviewed and approved in accordance with NI 43-101 by Don Hains, of the Hains Engineering Company Limited, a 'qualified person' as defined in NI 43-101. Shareholder Information The Consolidated Financial Statements and Management's Discussion & Analysis are available on our website and SEDAR+ Q1 2025 Conference Call Details 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: About Lithium Royalty Corp. 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. Forward Looking Statements 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, 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. 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. 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. Non-IFRS Measures 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. EBITDA and Adjusted EBITDA 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: income tax expense and recovery; finance costs, netted against finance income; and depletion, depreciation and amortization. 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: 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. 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. 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 ) Expand 3 Non-recurring gains include the gain on disposition of royalty interest and expenses incurred related to the substantial issuer bid. Expand _________________________________________________ 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 per tonne for 99.5% lithium carbonate for the relevant quarters were; Q4 2024 – $10,244, Q1 2025 - $10,041. The average spot market prices per tonne 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 of $317 offset by expenses incurred by the Company for the substantial issuer bid of $158. Expand
Associated Press
30-04-2025
- Business
- Associated Press
CORRECTING and REPLACING Lithium Royalty Corp. Announces First Quarter 2025 Results
TORONTO--(BUSINESS WIRE)--Apr 30, 2025-- Please replace the release with the following corrected version due to multiple revisions. The updated release reads: LITHIUM ROYALTY CORP. ANNOUNCES FIRST QUARTER 2025 RESULTS (in thousands of U.S. dollars unless otherwise noted) Lithium Royalty Corp. (TSX: LIRC) ('LRC' or the 'Company') announces first quarter 2025 results. 'LRC's diversified business model, with assets continuing to enter production and ramp up to nameplate, is insulating us from low lithium prices. As the sector recalibrates, our royalty portfolio is continuing to mature, setting up the Company for the eventual lithium cycle recovery or benefitting from robust cash flows at current commodity prices as our existing projects ramp up and new projects come online in a regular cadence through the balance of the decade. The low-price environment for the sector has improved access to attractive acquisition opportunities and we are actively exploring opportunities for growth,' stated Ernie Ortiz, President and CEO of LRC. 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. Financial Highlights 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 were higher in 2025, but the impact was offset by the decrease in lithium price. At March 31, 2025, LRC held $ 31.9 million of cash and had no debt. Portfolio Updates 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 5.4 Mt LCE measured and indicated mineral resource at 647 mg/L based on a grade cut-off of 400 mg/L. Construction of Phase 2, which is expected to add a further 30,000 tonnes of annual production capacity, is progressing well. LRC holds a 0.9% GOR royalty on the Tres Quebradas project. 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, and has confirmed that it is 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 expected 2026 production of 520,000 tonnes. LRC holds a net 0.9% NSR royalty on the Grota do Cirilo project. 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% Li 2 O 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. 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 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. 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. 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 plant 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. Core Lithium Finniss Royalty: During the quarter, Core Lithium reaffirmed that 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 a final investment decision ('FID'). LRC holds a 2.5% GOR royalty on the Finniss project. 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. 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. 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 that was the basis for the 2024 resource. Sayona commented these latest results, along with pending assays, will be incorporated into a future mineral resource update and updated reserve estimate, expected by August 2025. LRC holds a 2.5% GOR royalty on the Moblan project. Lithium Market Lithium end markets continued to show momentum in the first quarter of 2025, driven by 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. 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. 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, in Germany, BEV sales increased by 39%, Italy 72%, and Spain 59%. Despite recent updates to CO 2 emissions legislation, product innovation and competitive pricing are driving consumer uptake. Additionally, several Chinese automakers are establishing manufacturing facilities in Europe, with vehicle deliveries expected to begin by early 2026 – further supporting future growth. 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. 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. 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. Qualified Persons The technical and scientific information contained in this news release was reviewed and approved in accordance with NI 43-101 by Don Hains, of the Hains Engineering Company Limited, a 'qualified person' as defined in NI 43-101. Important Dates and Events Shareholder Information The Consolidated Financial Statements and Management's Discussion & Analysis are available on our website and SEDAR+. Q1 2025 Conference Call Details 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: About Lithium Royalty Corp. 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. Forward Looking Statements 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,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. 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. 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. Non-IFRS Measures 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. EBITDA and Adjusted EBITDA 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: 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: 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. View source version on CONTACT: Contact Information for Inquiries: Jonida Zaganjori Investor Relations (647) 792-1100 [email protected] KEYWORD: AFRICA AUSTRALIA/OCEANIA UNITED STATES CANADA NORTH AMERICA AUSTRALIA NEVADA COLORADO IDAHO ARIZONA INDUSTRY KEYWORD: TECHNOLOGY EV/ELECTRIC VEHICLES AUTOMOTIVE AUTOMOTIVE MANUFACTURING ALTERNATIVE ENERGY MANUFACTURING ENERGY MINING/MINERALS BATTERIES NATURAL RESOURCES SOURCE: Lithium Royalty Corp. Copyright Business Wire 2025. PUB: 04/30/2025 01:15 PM/DISC: 04/30/2025 01:14 PM
