- Electric Royalties (TSXV:ELEC) is announcing a potential C$100 million financing from the government of Canada into the Seymour Lake lithium project in Ontario, on which it holds a 1.5 per cent net smelter royalty
- The property houses a mineral resource estimated at 10.3 million tons grading 1.03 per cent lithium oxide, with production slated for 2026
- Electric Royalties is a royalty company capitalizing on demand for commodities positioned to benefit from the energy transition
- Electric Royalties stock has given back 36 per cent year-over-year and over 40 per cent since inception in 2020
Electric Royalties (TSXV:ELEC) is announcing a potential C$100 million financing from the government of Canada into the Seymour Lake lithium project in Ontario, on which it holds a 1.5 per cent net smelter royalty. The property boasts a mineral resource estimate of 10.3 million tons grading 1.03 per cent lithium oxide, with production slated for 2026.
Green Technology Metals (ASX:GT1), Seymour Lake’s operator, received a letter of intent from Export Development Canada on December 22 regarding the financing, which would be structured as direct-lending debt.
Export Development Canada is a Crown corporation dedicated to financing Canadian exporters. It has closed over 540 transactions spanning renewable energy technology, utilities, energy, mining, telecom and infrastructure.
A final agreement between the government and Green Technology Metals remains subject to due diligence, including an environmental and social review.
Green Technology Metals is receiving “strong interest from additional global commercial lenders,” according to Tuesday’s news release, “forming a foundation for a diversified financing structure which it anticipates finalizing in 2025, along with a feasibility study that is already underway.”
Leadership insights
“The letter of interest from Export Development Canada for up to C$100 million in financing support represents a meaningful step forward for Green Technology Metals’ Seymour lithium project,” Brendan Yurik, chief executive officer of Electric Royalties, said in a statement. “This announcement could help accelerate the project’s development, reinforcing its trajectory to become Ontario’s first lithium producer and solidifying its role in Canada’s critical minerals supply chain.”
About Electric Royalties
Electric Royalties is a royalty company capitalizing on demand for commodities positioned to benefit from the energy transition, including lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper. The company’s portfolio holds 41 royalties focused on advanced-stage and operating projects in jurisdictions with low geopolitical risk.
Electric Royalties stock (TSXV:ELEC) last traded at C$0.16 per share. The stock has given back 36 per cent year-over-year and over 40 per cent since inception in 2020.
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(Top photo of the Seymour Lake lithium project in Ontario: Green Technology Metals)
