- Electric Royalties (ELEC) has signed an LOI with Strategic Minerals Europe (SNTA)
- The LOI is in reference to the proposed grant to Electric Royalties of a gross revenue royalty on the Penouta tin-tantalum mine in Spain
- Electric Royalties CEO Brendan Yurik sat down with Daniella Atkinson to discuss the news
- Under the LOI, Electric Royalties will acquire a 0.75 percent gross revenue royalty on the production of the Penouta mine
- Electric Royalties will have the option to acquire an additional 0.75 percent royalty at the Penouta mine for a cash payment of C$1.25 million
- Electric Royalties is a royalty company
- Electric Royalties Ltd. (ELEC) opened trading at C$0.26
Electric Royalties (ELEC) has signed a Letter of Intent with Strategic Minerals Europe (SNTA).
The LOI is in reference to the proposed grant to Electric Royalties of a gross revenue royalty on the Penouta tin-tantalum mine in Spain in exchange for a cash payment of C$1,000,000 and 500,000 common shares of Electric Royalties.
Brendan Yurik, CEO of Electric Royalties, sat down with Daniella Atkinson to discuss the transaction.
Under the LOI, Electric Royalties will acquire a 0.75 percent gross revenue royalty on the production of the Penouta mine for a cash payment of C$1.0 million and 500,000 common shares in the capital of Electric Royalties. Electric Royalties will have the option to acquire an additional 0.75 percent royalty at the Penouta mine for a cash payment of C$1.25 million.
Electric Royalties has a growing portfolio of 20 royalties, including one royalty that currently generates revenue. Electric Royalties is focused predominantly on acquiring royalties on advanced-stage and operating projects to build a diversified portfolio.
Electric Royalties Ltd. (ELEC) opened trading at C$0.26.