
VVC Exploration Corporation, dba VVC Resources, ("VVC"), (TSX-V:VVC and OTCQC:VVCVF) announces the following:
Appointment of Officers
VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following:
Shareholders’ Meeting
The Company’s Annual General Meeting of Shareholders ("AGM") took place virtually yesterday with 43 attendees and representation by Proxy of about 68.6% of the shareholders. At the AGM, shareholders approved the election of all Directors proposed by Management with over 71.8% of the tendered votes being in favor and the re-appointment of MNP LLP as auditors of the Company with 83.8% of the tendered votes being in favor.
The formal business session of the AGM was chaired by the Chairman of the Board, Terrence Martell. A Presentation and Q&A Session followed, whereby the President and CEO of the Company, Jim Culver, updated the attendees on the status of the Company and answered questions from shareholders.
The Presentation of the AGM will be posted on the Company website.
VVC Chairman, Terrence Martell, commented, "As a representative of Management and the Board, I extend heartfelt gratitude to our shareholders for their support over the past year. We eagerly anticipate the opportunity to continue serving you in the coming year.”
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet - (514) 631 - 2727
E-mail: pfernet@vvcexploration.com
or
Mike Culver (202) 531-6559
E-mail: mike@vvcresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
With a growing list of natural resources assets vital to growing global demand in the healthcare and technology sectors, VVC Resources presents an investment opportunity for investors looking to diversify their portfolios.
The global helium market is expected to increase from $4.45 billion in 2022 to $5.03 billion in 2023 at a compound annual growth rate of 12.9 percent driven by the growing demand for helium from the healthcare industry. Helium is important in medicine because this rare element is used in various ways, one of which is as a refrigerant capable of cooling the superconducting magnets in MRI scanners. This non-reactive, non-corrosive, non-flammable noble gas is not only used in diagnosis equipment but also as an adjunct therapy for certain diseases like COPD, asthma and bronchiolitis.
Although helium is the second most common element on earth, global helium supplies are running low. Resource companies that supply industries dependent on helium should explore potential helium reserves and evaluate data to come up with a unique strategy for increasing helium production.
VVC Resources (TSXV:VVC;OTCQB:VVCVF) engages in the exploration, development and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel and the expanding green economy.
The company’s portfolio includes a diverse set of assets and high-growth projects, comprising: helium and industrial gas production in the western US; copper and associated metals operations in northern Mexico; and strategic investments in carbon sequestration and other green energy technologies.
VVC currently targets helium reserves in the US by reactivating old gas wells and drilling new wells. In January 2022, the company engaged Foreland Operating to manage the day-to-day helium operations going forward. In March 2022, VVC announced the successful completion and connection of its first helium well in the Syracuse Project. The well, known as the Levens #2, was connected to Tumbleweed Midstream’s Ladder Creek Pipeline, which transports gas to the Ladder Creek Helium Processing Plant in Cheyenne Wells, Colorado. VVC further confirmed the presence of helium up to 1.14 percent from its second drilled well in the Syracuse Project.
VVC also acquired the Monarch Project to further capitalize on the growing demand for helium due to increased global usage. The Monarch Project consists of more than 1,700 acres of gas leases located in Greely County, Kansas with six existing wells. Minor repairs were made to five of the six wells, restoring electric power service, and began generating revenue from the natural gas and helium at low volumes. The focus of this project is the 14 additional potential well locations which are conveniently located for connection to the Tumbleweed pipeline.
VVC’s helium portfolio reached another significant milestone with the installation of 14 miles of its internal gathering system pipeline in the Syracuse Project. The major infrastructure will seamlessly transport gas produced by the company’s helium and natural gas wells to a nearby processing plant. The milestone increases the pipeline’s length from 7 to 14 miles and the project’s capacity from 50 to 100 wells.
VVC is advancing its Gloria copper property in Mexico towards production. The 4,055-acre Gloria property is situated in the northern part of Mexico’s Chihuahua state in the Sierra Madre region 60 kilometers southwest of El Paso, Texas. The project is also supported by infrastructure including an access road and an available mining workforce.
VVC Exploration is led by a management team with a wealth of mining experience and is supported by a board of directors with significant influence in both the mining and financial industries. The management and board are also notably invested in the company, with the CEO, members of management and the board of directors listed as top investors. As a whole, the company has a tight share structure with over 90 million shares held by the top 25 investors.
Helium, Natural Gas & Other Industrial Gases
Copper, Base & Precious Metals
Strategic Investments
Energy Transition & Carbon Capture
Helium & Natural Gas
As of Dec 2024
In January 2021, VVC Exploration acquired Plateau Helium Corporation (PHC), a Wyoming Corporation focused on helium exploration and development, primarily in the western US. PHC’s initial target project is located in Kansas and currently comprises 69 leases covering 16,371 acres known as the Syracuse Helium Project.
Plateau Helium Corporation engaged Foreland Operating to manage the company’s helium production. Foreland Operating is a Texas-based upstream oil and gas operating company with a long-tenured team that has been operating in many of the premiere US basins including the Barnett Shale, the Marcellus Shale and the Permian Basin.
Syracuse is VVC’s helium project with 16,400 acres of contiguous oil and gas leases. The company has identified 16 identified well sites in the area with internal estimates of a future resource of 75 Bcf of gas. Currently, Syracuse has 22 well sites permitted or currently being permitted, each with the potential to produce over 1 billion cubic feet of gas.
In 2022, the company announced it successfully completed and connected its first helium well to the project. The well is known as the Levens #2 and was connected to Tumbleweed Midstream’s Ladder Creek Pipeline allowing the transport of gas to the Ladder Creek Helium Processing Plant in Cheyenne Wells, Colorado. The Levens #2 was successfully drilled to a depth of 2,478 feet and encountered multiple gas zones.
As of Dec 2024
VVC purchased the Monarch Lease in April 2021, bolstering VVC’s ability to capitalize on the growing demand for helium, driven by increased global usage. The Monarch Lease is a 1,720-acre property that is located in the Byerly Field in Greely County, Kansas and includes six formerly producing gas wells that are still connected to the Tumbleweed Midstream pipeline. All wells produced both methane and helium. There is additional potential in the deeper zones of this property which VVC will explore.
The Stockholm project is VVC’s top drilling priority project in Wallace Kansas in an area with significant natural gas potential. Stockholm spans 3,000 acres of permitted jurisdiction targeted for helium, natural gas and hydrogen. VVC has commenced drilling activities at the Josephine Mack 1-18 well, marking the initiation of the company's first test well within the Stockholm project.The Josephine Mack 1-18 well is VVC's strategic entry into this geologically promising region which evaluates the hydrocarbon potential of the Morrow Zone. The Stockholm project shows potential for oil production as well.
VVC’s current copper focus project is Gloria in Northern Mexico which is a host to oxide copper mineralization with a copper resource of 59.4 million pounds, indicated (9.6 million tonnes grading 0.28 percent copper) and 89.33 million pounds, inferred (14.4 million tonnes grading 0.28 percent copper). The property spans 4,055 acres in Chihuahua State and drilling over the past two years has defined a significant copper mineralized zone over a 15-kilometer strike.
Gloria provides VVC with a unique exposure to the copper market. Approximately 100,000 tons of artisanal ore piles on site that have been high graded, hand cobbed (sorted), and can be utilized for pilot/test mining.
Located in Central Sonora Mexico is VVC’s 16,622-acre Cumeral gold/copper exploration project. Cumeral covers an epithermal style, mineralized gold/silver zone at least 3.6 kilometers long with geological structure and surface sampling suggest the potential for multi-million ounce gold deposit.
VVC recently made a strategic investment in Proton Green, an energy transition company poised to become one of the leading helium producers and carbon sequestration hubs in North America.
Proton Green, LLC, is a producer of helium and hydrogen and is building out its position as a large carbon sequestration operator in North America. With operating control over the St. Johns Field, a 152,000-acre property in Apache County, Arizona, Proton Green controls a helium reservoir and carbon storage basin.
Proton Green’s initial project is the St. Johns Field. The St. Johns Field is a massive helium reservoir and immense carbon storage basin located in Apache County, Arizona. Extensive third-party geological studies performed on the property indicate reserves of up to 33 billion cubic feet of helium in shallow, easily accessible reservoirs. Capable of producing one billion cubic feet of helium per year, it will be among the most prolific helium production sites in the world.
It is also projected to be among the largest carbon capture companies in North America, with 22 million metric tons of carbon sequestration per year, and a total storage capacity of over 1 billion metric tons.
Dr. Terrence Martell is the director of the Weissman Center for International Business at Baruch College and the Saxe Distinguished Professor of Finance where he oversees a myriad of international education programs and projects. He is also the chairperson of the University Faculty Senate and an ex-officio member of the board of trustees at The City University of New York. His area of expertise and research is international commodity markets.
He is a director of the Intercontinental Exchange (ICE) where he serves on the audit committee and has many roles. He serves on the board of the Manhattan Chamber of Commerce and is a member of their executive committee. He is also a member of the New York City District Export Council of the US Department of Commerce and a member of the Reuters/Jefferies CRB Index Oversight Committee. Dr. Martell received his BA in Economics from Iona College and his PhD in Finance from the Pennsylvania State University.
Dr. James Culver has spent over 40 years in the fields of commodities, international trade and trade finance, holding posts in government, academia and the private sector. For the last 20 years, he has focused on commodity finance and commodity project finance, primarily in mining and metals and agricultural products. He spent 22 years working in New York City where he most recently managed two private commodity asset-based lending companies and developed hedge funds to support their lending activities.
Previously, Dr. Culver served as chief economist and director of the Economics and Education Division for the Commodity Futures Trading Commission. He was responsible for market surveillance and new product approvals. He also served for five years on the staff of the Committee on Agriculture of the US House of Representatives. In addition, Culver has been an active participant in a family-owned and operated business, The Parsons Group International Education Inc., a for-profit educational services company. He earned his B.Sc. at the University of Tennessee Martin and his MSc. and PhD degrees from the University of Tennessee Knoxville.
A Canadian mining engineer and geologist residing in Chihuahua, Mexico, Andre St-Michel has over 30 years of experience in the mining business with a focus on mine development, mill operation, administration and finance. He has spent the last 10 years working in Mexico where he currently serves as President and CEO of Freyja Resources.
From 2003 to 2008, he was a senior executive of Dia Bras (now Sierra Metals), responsible for its exploration programs and the start-up of its Bolivar copper and zinc mine. From the initial start-up of the mine in 2005, production reached 450 tons per day in 2006 with annual projected revenues of approximately $27 million and cash flows of approximately $10 million. Prior to 2003, he served as president of ECU Silver Mining, developing programs and properties in the US, Brazil and Mexico. He holds a degree from the Laval University Engineering School and a Master’s degree in Project Management from University du Quebec. He is a professional engineer.
Michael Lafrance has been VVC Exploration’s secretary and treasurer and geological consultant since December 2012. Since 1980, he has served in similar roles with many other publicly-traded exploration companies. He is also the corporate secretary of POET Technologies Inc. (formerly Opel Technologies), a pioneer in the field of integrated circuits. He is a graduate of the University of Ottawa.
Kevin Barnes has served as the corporate controller and CFO of various public and private companies over the last 12 years. He also served in the role of IT manager and senior accountant with Duguay and Ringler Corporate Services, a firm which provides corporate accounting and secretarial services to publicly-traded companies. He served as the controller of Canada’s Choice Spring Water, one of Canada’s first publicly traded bottled water companies.
He currently serves as CFO of Poet Technologies, a pioneer in the field of integrated circuits and Controller of an international training institute with revenues of $100 million. Barnes received a computer operations diploma from the Careers Development Institute and has a Certified Management Accountant designation from the ICMA Australia. In 2006, he became a member of the Institute of Chartered Secretaries and Administrators of Canada.
Peter Dimmell is a geologist and prospector who has been involved in mineral exploration in Canada, the United States and overseas for 38 years. He is experienced in all aspects of the mining industry and has guided on-site operations from exploration through to production. He is a past president of the Prospectors and Developers Association of Canada (PDAC), a director and former chairman of the Newfoundland and Labrador Chamber of Mineral Resources and a councilor and member of the Geological Association of Canada. He sits on the Board of Directors of four other public companies: Arehada Mining, Linear Gold, Pele Mountain Resources and Silver Spruce Resources, for which he also serves as CEO.
Bruno Dumais is vice-president of finance, for BroadSign International, a Montreal-based provider of digital signage solutions. He possesses over 20 years of experience in financial, forecast and strategic planning and is responsible for overseeing global financial activities. Before joining BroadSign, he was the chief financial officer, vice-president of finance and a consultant at Mitec Telecom for seven years. He has also held senior level positions in companies crossing a variety of sectors, such as Gestion Exponent, Nortel Networks and Premier Tech. Dumais is a chartered professional accountant and holds both a Bachelor in Business Administration from the University of Quebec in Rimouski and an International MBA from the University of Ottawa.
Patrick Fernet is a legal, operations, and corporate governance expert with more than twelve years’ experience in Canadian small-cap public corporations. He serves as a consultant to VVC on a variety of corporate matters. He has more than 15 years of governance experience with small-cap Canadian corporations.
Scott Hill has served as chief financial officer of Intercontinental Exchange Inc (ICE) since May 2007. He is responsible for all aspects of ICE’s finance and accounting functions, treasury, tax, audit and controls, business development, human resources and investor relations. Hill also oversees ICE’s global clearing operations. Prior to joining ICE, Hill was assistant controller for Financial Forecasts and Measurements at IBM, where he oversaw worldwide financial performance and worked with all global business units and geographies. Hill began his career at IBM and held various accounting and financial positions in the US, Europe, and Japan, including vice-president and controller of IBM Japan, and assistant controller, financial strategy and budgets..
Leon Shivamber is a transformation leader with more than three decades of successful transformations under his belt. He learned about strategy and business integrity during his years at McKinsey & Company, change management, and rapid transformation during his New York Consulting Partners years and high-performance acquisitions during his years at Arrow Electronics. He spent five years leading the prize-winning supply chain and operations transformation at the then Harris Corporation (now L3 Harris Technologies). For three years after that role, Leon extended and applied his transformation experience as a leader and general manager building an international joint venture in the Middle East.
Thereafter, Leon spent three years as CEO leading the vibrant UAE headquartered Atlas Group with strategic businesses in communications, defense, energy, food, healthcare, hospitality, public safety, and security. He also spent two additional years advising Atlas Group and other Middle-East-based corporations on their transformation efforts. Since that time, Leon has returned to the United States and has been acting as a senior advisor to several corporate transformations. He is a fellow, Life Management Institute (FLMI), and a trustee of the board of directors of Baruch College Fund.
Engaging in the exploration, development, and management of natural resources
VVC Exploration Corporation, dba VVC Resources, ("VVC"), (TSX-V:VVC and OTCQC:VVCVF) announces the following:
Appointment of Officers
The Directors appointed Mr. Bill Kerrigan as President and Chief Operating Officer of VVC. Mr. Kerrigan will continue to be President of Plateau Helium Corporation. Mr. James A. Culver will remain as CEO of VVC.
VVC Chairman, Terrence Martell, commented, " As a representative of Management and the Board, I extend heartfelt gratitude to Mr. Culver for his years of service as President. I also welcome Mr. Kerrigan to his new role as President and I am confident that he will provide positive momentum for VVC."
Option Grant
The Directors also granted incentive stock options under its stock option plan, to officers, directors and consultants of the Company, to purchase up to an aggregate of 15,700,000 common shares, representing 2.74% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.05 per share expiring March 17, 2035. 25% of the options granted will vest immediately with the remaining vesting at 25% every six months. The exercise price was fixed at the minimum allowable price by the TSX Venture Exchange policies. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws. Of the Options granted, 41.1% were to Directors, 30.3% to Officers and 28.7% to Employees/Consultants of the Company.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com .
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet - (514) 631-2727
E-mail: pfernet@vvcexploration.com
Emily Bigelow - (615) 504-4621
E-mail: emily@vvcresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
VVC Exploration Corporation, dba VVC Resources, ("VVC") or (the "Company"), (TSX-V:VVC and OTCQC:VVCVF) announces the completion of Levens 4-31 well in the Syracuse Project as well as the commencement of drilling activities at the Josephine Mack 1-18 well, marking the initiation of the Company's first test well within the Stockholm Project located in Wallace County, Kansas.
Progress In Syracuse Project With Completion of Levens 4-31
The Company has finished the completion work of Levens 4-31, bringing the total number of producing wells in the Syracuse Project to five. The Company is committed to completing three more wells in Syracuse.
Spudding of Josephine Mack 1-18 Well
On May 31st, drilling crews broke ground with the spudding of Josephine Mack 1-18. Spudding is the process of beginning to drill a well in the oil and gas industry, marking the start of the actual drilling operation. This well represents the first exploratory effort under the Stockholm Project's scope, targeting the Morrow Zone at a proposed depth of 5,300 feet. This initiative underscores VVC's strategic entry into this geologically promising region. The Company has positioned the Josephine Mack 1-18 to thoroughly evaluate the hydrocarbon potential of the Morrow Zone.
Exploration Strategy and Economic Significance
The Company's Stockholm Project is in the Morrow Zone, known for its stratigraphy and potential as a hydrocarbon reservoir. The data from the Josephine Mack 1-18 well will help determine the feasibility of further development in this area. This project is located an hour north of the Syracuse Project, which will allow the Company to utilize existing relationships with favorable vendors and operators.
Jim Culver, CEO & President of VVC, stated, "The initiation of drilling at the Josephine Mack 1-18 well is the logical next step in broadening our operational footprint, particularly within the promising economic Morrow Zone of Kansas."
A Continued Commitment to Sustainable Practices
VVC remains dedicated to environmentally responsible practices. The Company's operations are conducted with the utmost regard to ensuring sustainability, minimal environmental impact and adherence to the highest industry standards and best practices.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com .
On behalf of the Board of Directors | |
Michel J. Lafrance, Secretary-Treasurer | |
For further information, please contact: | |
Patrick Fernet - (514) 631-2727 (FR) | or Emily Bigelow - (615) 504-4621 (EN) |
E-mail: pfernet@vvcexploration.com | E-mail: info@vvcresources.com |
Emily@VVCResources.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
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VVC Exploration Corporation, dba VVC Resources, ("VVC") or (the "Company"), (TSX-V:VVC and OTCQC:VVCVF) announces the rework of a pre-existing oil well in southwest Kansas as a test for oil production in the region.
Initiation of Ardery Oil Well Rework
Building on its experience in natural resource management, especially recent work in Kansas, VVC has leveraged its subsurface mineral rights to examine the feasibility of oil production in an area where the Company is already involved in helium and natural gas production. Through geological due diligence, VVC has confirmed the potential for oil production within the area. This confirmation aligns with historic data indicating over 12 million barrels of oil production directly north of Ardery well site.
Operational Strategy and Zonal Potential
The Ardery test is distinguished by its multi-zone production potential, comprising the Morrow Sandstone and the underlying St. Louis Limestone "B" & "C" zones. This project, if successful will enhance the economic outlook of VVC's Kansas projects.
Jim Culver, CEO & President of VVC, stated, "The initiation of the Ardery oil well rework offers significant opportunity for VVC to test the potential for oil production in the areas where the Company is involved with helium and natural gas exploration and production at a relatively low cost."
A Continued Commitment to Sustainable Practices
VVC remains dedicated to environmentally responsible practices. The Company's operations are conducted with the utmost regard to ensuring sustainability, minimal environmental impact and adherence to the highest industry standards and best practices.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com .
On behalf of the Board of Directors | |||
Michel J. Lafrance, Secretary-Treasurer | |||
For further information, please contact: | |||
Patrick Fernet - (514) 631-2727 (FR) | or | Emily Bigelow - (615) 504-4621 (EN) | |
E-mail: pfernet@vvcexploration.com | E-mail: info@vvcresources.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
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VVC Exploration Corporation, dba VVC Resources, ("VVC") or (the "Company"), (TSX-V:VVC and OTCQC:VVCVF) announces the following update on its ongoing Syracuse HeliumNatural Gas Project in Kansas:
Completion and Operational Status of Syracuse Gas Gathering System
The Company has completed and is operating its Syracuse Gas Gathering system. This state-of-the-art pipeline infrastructure is designed to service the entire 16,000-acre project and is pivotal in the Company's ability to efficiently market its natural gas. Now that the core system is in place, only lateral lines will need to be added to this system. The system facilitates a robust connection to the Tumbleweed pipeline, where the Company has secured a sale contract for helium, natural gas, and other valuable natural gas liquids. The operationalization of this system underscores the Company's commitment to leveraging advanced technologies for optimized resource management and market responsiveness.
Completion of Saltwater Disposal System and Enhancement of Economics
Furthering its dedication to sustainable and economical operations, the Company is pleased to report the completion of its saltwater disposal system. This system represents a significant step forward in the Company's natural gas development strategy. This saltwater disposal system results in a higher profitability per well and reflects the Company's approach in ensuring economic efficiency in its operations.
VVC President Jim Culver commented, "The operational commencement of the Syracuse Gas Gathering System and the completion of our saltwater disposal system are key drivers in bolstering VVC's Syracuse Project profitability. These advancements significantly reduce operational expenses and enhance potential profitability of the Syracuse Project, underpinning VVC's strategy. "
Addition of John Virgil to the Leadership Team
VVC Resources has announced the appointment of John Virgil to direct all helium and natural gas project engineering. John Virgil brings a wealth of experience and expertise in project management and will play a crucial role in steering the Syracuse Project and the success of additional projects in Western Kansas. John will report to Bill Kerrigan, who will now be able to focus on the development of VVC's additional helium and natural gas projects, further strengthening our project portfolio and driving our strategic objectives forward.
A Continued Commitment to Sustainable Practices
VVC remains dedicated to environmentally responsible practices. The Company's operations are conducted with the utmost regard to ensuring sustainability, minimal environmental impact and adherence to the highest industry standards and best practices.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com .
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact: | ||||
Patrick Fernet - (514) 631-2727 | or | Emily Bigelow - (615) 504-4621 | ||
E-mail: pfernet@vvcexploration.com | E-mail: info@vvcresources.com | |||
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
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VVC Exploration Corporation, dba VVC Resources, ("VVC") or (the "Company"), (TSX-V:VVC and OTCQC:VVCVF) announces the following update on its ongoing Syracuse HeliumNatural Gas Project in Kansas:
Successful Production Commencement at Durler 2-21
Following our previous announcement on November 16, 2023, we are pleased to report that the Durler 2-21 well has transitioned from successful completion to active production. This milestone signifies a stable economic output, marking Durler 2-21 a key contributor in the Company's portfolio. The well's performance continues to be closely monitored and adjusted to optimize its output and efficiency. The objective of the optimization is to reach the maximum stable production level without negatively impacting total production of the well. The gas quality is as expected: helium content is 1.2%, natural gas content is 35.949%, with a heat content of 438 BTU.
Hodgson 1-17 & C Double D 1-16: Completion and Analysis Phase
The Hodgson 1-17 & C Double D 1-16 wells are now completed and producing. These two wells are in the output analysis phase. This stage is crucial for understanding the wells' production capacities, optimal settings for both immediate and long-term production and potential contributions to the overall project.
Preparations Complete for Levens 4-31, Weaver 1-15, T Spiker 1-7
The team has also readied the Levens 4-31, Weaver 1-15, and T Spiker 1-7 wells for completion. Next steps for these wells await the analysis of the Durler, Hodgson and C Double wells. Each helium/natural gas project has its idiosyncrasies and every time a new well is completed, introduced into production, and optimized, the more information the team has for the next wells. This thorough preparatory plan and step by step optimization of these wells increases the probability for successful integration into the production line-up, at the most reasonable cost, underscoring the team's commitment to thoughtful strategic growth and resource optimization.
VVC President Jim Culver commented, "While the process may seem unusually deliberate, every time a well is drilled, perforated, or completed in the Syracuse Project, the more information the team gains about how to succeed with the next well or wells. This knowledge gives us a better chance of optimum success for the whole project."
A Continued Commitment to Sustainable Practices
VVC remains dedicated to environmentally responsible practices. The Company's operations are conducted with the utmost regard to ensuring sustainability, minimal environmental impact and adherence to the highest industry standards and best practices.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com .
On behalf of the Board of Directors | ||
Michel J. Lafrance, Secretary-Treasurer | ||
For further information, please contact: | ||
Patrick Fernet - (514) 631-2727 | or | Emily Bigelow - (615) 504-4621 |
E-mail: pfernet@vvcexploration.com | E-mail: info@vvcresources.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
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ACG is pleased to announce that its ordinary shares have today qualified and will begin trading on the OTCQX Best Market, under the OTCQX ticker code "ACGAF". ACG's shares will also continue to trade on the London Stock Exchange.
The OTCQX Best Market, operated by OTC Markets Group, is the highest tier of the U.S. OTC markets and is designed for established, investor-focused companies that meet high financial and governance standards.
This milestone represents a significant step in ACG's strategy to broaden its international shareholder base and enhance visibility among U.S. institutional and retail investors.
Representatives of the Company, including Chairman and CEO Artem Volynets, will participate in a ceremonial "ringing of the bell" at the OTC Markets office of the NYSE later today.
Artem Volynets (Chairman and CEO) and Patrick Henze (CFO) will provide a live presentation on the H1 2025 Financial Results and OTCQX listing via Investor Meet Company on 16 September 2025 at 13:00 BST.
Investors can register here.
Artem Volynets, Chairman and Chief Executive Officer of ACG, said:
"We are thrilled to begin trading on the OTCQX Best Market, a natural next step as we broaden our global investor outreach and look to enhance liquidity in our shares.
Trading in New York provides U.S. investors, including retail investors, with greater access to ACG at a time when, despite accelerating global demand for copper, opportunities to gain exposure to emerging copper producers remain limited in the U.S.
With the expansion of the Gediktepe mine advancing on schedule and a clear pipeline of copper-focused growth, we are building strong momentum and look forward to engaging with investors on both sides of the Atlantic as we continue to execute our growth strategy to deliver long-term, sustainable value for our shareholders."
Michael R. Pompeo, Non-Executive Director at ACG, said:
"Graduating to the OTCQX Best Market is an important milestone for ACG, and vital for American investors seeking exposure to an emerging copper miner at a time when such opportunities are still scarce. Copper is absolutely central to the energy transition, and ensuring continued Western access to critical metals has never been more important.
I look forward to contributing to ACG's story as it grows its U.S. presence and builds scale and value for shareholders."
The person responsible for the release of this information on behalf of the Company is Artem Volynets, Chief Executive Officer.
For further information please contact:
Palatine
Communications Advisor
Conal Walsh / James Gilheany/ Kelsey Traynor/ Richard Seed
Berenberg
Research Analysts
William Dalby +44 (0) 20 3753 3243
Richard Hatch +44 (0) 20 3753 3070
Cody Hayden +44 (0) 20 3753 3133
Joint Broker
Jennifer Lee
+44 (0) 20 3207 7800
Canaccord
Research Analysts
Tim Huff +44 (0) 20 7523 8374
Alex Bedwany +44 (0) 20 7523 8387
Joint Broker
James Asensio / Charlie Hammond
+ 44 (0) 20 7523 80
Cantor Fitzgerald
Research Analysts
Puneet Singh +1 (416) 350-8153
Stifel
Research Analysts
Andrew Breichmanas +44 (0) 20 3465 1110
Joint Broker
Ashton Clanfield / Varun Talwar
+44 (0) 20 7710 7600
About the Company
ACG Metals is a company with a vision to consolidate the copper industry through a series of roll-up acquisitions, with best-in-class ESG and carbon footprint characteristics.
In September 2024, ACG successfully completed the acquisition of the Gediktepe Mine which is expected to transition to primary copper and zinc production from 2026 and will target annual steady-state copper equivalent production of 20-25 kt. Gediktepe produced 55koz of AuEq in 2024.
ACG's team has extensive M&A experience built through decades spent at blue-chip multinationals in the sector. The team brings a significant network as well as a commitment to ESG principles and strong corporate governance.
For more information about ACG, please visit: www.acgmetals.com
Anglo American (LSE:AAL,OTCQX:AAUKF) and Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) have agreed to merge in a blockbuster US$53 billion deal that will create one of the world’s largest copper producers.
Under the terms of the all-share merger, announced on Tuesday (September 9), Anglo American shareholders will hold 62.4 percent of the combined company, while Teck investors will own 37.6 percent.
The new entity, tentatively named Anglo Teck, will be headquartered in Vancouver and will have its primary listing on the London Stock Exchange, with secondary listings in Johannesburg, New York and Vancouver.
Copper, which is vital for power grids, electric vehicles and increasingly energy-hungry data centers, has become the focus of a global scramble for supply, driving consolidation among major players within the industry.
“We are all committed to preserving and building on the proud heritage of both companies, both in Canada, as Anglo Teck’s natural headquarters, and in South Africa where our commitment to investment and national priorities endure,” said Anglo American CEO Duncan Wanblad in the company's press release. Wanblad will lead the combined group from Canada, while Teck CEO Jonathan Price will serve as the deputy chief executive of Anglo Teck.
Copper is projected to account for more than 70 percent of the merged company’s earnings by 2027.
Both companies have recently fended off prior takeover attempts.
Last year, Anglo American rejected a US$38.8 billion bid from Australian giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP), while Teck turned down a US$22.5 billion offer from Glencore (LSE:GLEN,OTC Pink:GLCNF) in 2023.
Analysts have described the deal as a signal of Anglo American’s shift from takeover target to aggressive consolidator.
“Anglo American has turned from prey to predator,” said Russ Mould, investment director at AJ Bell.
“The deal to buy Teck Resources, if it completes, means Anglo has not only pulled itself out of a hole, but also sends a message to mining peers that it is not a pushover.”
While the merger is structured as a zero-premium deal, Anglo plans to distribute a US$4.5 billion special dividend to shareholders before the completion of the transaction.
The consolidation is expected to generate significant cost savings. Anglo Teck has projected US$800 million in annual savings within four years, with roughly US$60 million targeted from executive and head office rationalization.
While the companies have pledged “no net reduction in the number of employees” in Canada, market watchers anticipate potential job losses at Anglo’s London office as the headquarters shift to Vancouver.
Canadian officials have already commented on the transaction, with Mélanie Joly, minister of innovation, science and industry, saying it will be reviewed to ensure it represents a "net benefit" to Canada.
Investors reacted positively to the announcement. Anglo’s shares climbed more than 10 percent following the news, lifting its market cap to US$39.5 billion, while Teck’s US-listed shares gained over 10.4 percent in pre-market trading.
Beyond copper, London-based Anglo American has been actively restructuring its portfolio.
The company has sold or demerged non-core assets to focus on copper and iron ore, including the demerger of its platinum business in May and the pending sale of its nickel and steelmaking coal operations.
Anglo is also exploring options for its De Beers diamond unit, either through a potential sale or a separate listing.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the resource exploration and development company, is pleased to announce its interim results for the six-month period ended 30 June 2025.
Highlights:
Shaun Bunn, Managing Director, commented:"The first half of 2025 has been a period of remarkable activity and momentum for Empire. Pitfield is no longer just a discovery story - it is fast becoming recognised as a project of global importance, with results that continue to exceed expectations. Our drilling campaigns have delivered some of the highest TiO₂ grades we've seen to date, confirming not only the exceptional quality of the deposit but also its scale consistency and simplicity.
"Metallurgical testwork has shown that we can achieve a product of extraordinary purity using straightforward, conventional processing methods.This rare combination of scale, grade and simplicity underpins our confidence that Pitfield can emerge as one of the world's leading titanium projects, capable of supplying high-value sectors such as aerospace and defence for decades to come.
"From an operational standpoint, we are now on the cusp of delivering our maiden MRE, which we believe will firmly establish Pitfield among the world's leading titanium assets. Beyond that, the pathway is clear: complete our expanded testwork, progress to pilot-scale operations, and begin engaging directly with end-users - particularly in high-value markets such as aerospace and defence, where titanium's strategic importance is growing rapidly.
"It is also encouraging to see the strength of market support for what we are building and I am confident that Empire can bring this once-in-a-lifetime discovery to commercial fruition in an expedient manner. With a world-class asset, a strengthened technical team, and strong financial backing, we are exceptionally well positioned for the next phase of growth."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.
For further information please visit www.empiremetals.com or contact:
CHAIRMAN'S STATEMENT
The progress we have made during 2025 at our flagship Pitfield Project in Western Australia has been nothing short of transformational, positioning the Company at the forefront of what we believe is the most significant titanium discovery globally. This represents a generational opportunity rapidly moving from exploration success toward commercial reality.
Over the past six months, our team has demonstrated not only technical excellence but also the ability to deliver results that have redefined the perception of the Company in the market. We have moved from exploration to successfully establishing Pitfield's potential to support long-term, large-scale, and high-value titanium supply. This achievement is reflected in the strong support we continue to receive from institutional investors, with £4.5 million raised in May 2025, and in the remarkable performance of our share price, which has risen more than 500% since the beginning of the year in response to a series of consequential milestone achievements.
What sets Pitfield apart is not just its extraordinary scale, but the exceptional quality of its titanium mineralisation. Unlike many other titanium projects around the world, Pitfield benefits from high-grade mineralisation from surface which has been proven to be of exceptional purity, being very low in deleterious contaminants but also amenable to simple, conventional mining methods due to its unique geological profile. Equally important, our metallurgical work has confirmed that simple, conventional processing can deliver an exceptionally pure titanium dioxide product, grading 99.25% TiO₂.
This combination of scale, grade, purity, and processing simplicity puts Pitfield in a league of its own. The Project is also located in Western Australia - a Tier One mining jurisdiction with world-class infrastructure, stable governance, a skilled workforce and a deeply rooted mining culture. Together, these advantages create a foundation for Pitfield to become a globally significant source of titanium supply.
During the first half of 2025, we advanced Pitfield across multiple fronts. A major drilling campaign was launched in February that provided not only the bulk metallurgical samples that enabled a significant scale-up of our metallurgical test work programme during the period, but also represented the next step towards defining a Mineral Resource Estimate ("MRE") for Pitfield.
A further drill campaign was launched in June 2025, the largest at Pitfield to date. The programme covered more than 11 square kilometres and targeted high-grade titanium mineralisation within the in-situ weathered cap at the Thomas Prospect, with the objective of delivering the MRE. This programme delivered some of the highest titanium dioxide grades recorded to date, with selected intercepts including: 44m @ 7.87% TiO2 from surface (AC25TOM159); 50m @ 7.84% TiO2 from 4m (AC25TOM130); 54m @ 7.41% TiO2 from surface (AC25TOM118); 98m @ 7.05% TiO2 from 2m (RC25TOM062); and 98m @ 7.05% TiO2 from 2m (RC25TOM068). A large, high-grade central core was identified from this drilling which averaged ~6% TiO2 across a continuous 3.6km strike length. In addition, nearly two thirds of all drillholes averaged > 4% TiO2, with over 90% exceeding a 2% TiO2 cut-off grade.
We are now on the cusp of delivering our maiden MRE, which is expected in the coming weeks. Based on the results to date, we expect the MRE to be world-class and to serve as a foundation for the next phase of project development including mine scoping studies.
Following the process development breakthrough announced post period end in August 2025, we are progressing through the bench-scale and large-scale batch metallurgical testwork programme, which we expect to complete by early 2026. This work will feed into the design of a continuous pilot plant, enabling us to refine the commercial flowsheet and to produce bulk samples for evaluation by prospective end-users.
While most of the world's titanium feedstock is used to produce titanium dioxide for pigments in paints, coatings, and plastics, Pitfield's unique quality opens doors to higher-value markets. In particular, titanium sponge (for use in titanium metal production) stands out as a strategic growth opportunity. Titanium metal is essential in defence and aerospace applications due to its remarkable strength-to-weight ratio and resistance to extreme conditions. These attributes make it critical for fighter jets, naval vessels, spacecraft, and next-generation technologies.
At a time when the geopolitical landscape is shifting rapidly, the security of titanium supply has never been more important. China has tripled its titanium sponge output since 2018 and now controls nearly 70% of global supply. The United States is 95% reliant on imports of titanium sponge and 86% reliant on imports of mineral concentrates. Similarly, the European Union is exposed to supply risks, with no meaningful domestic production. Pitfield therefore represents a unique opportunity for Empire to establish itself as a secure, Western-aligned generational supplier of titanium. This strategic positioning is already resonating strongly with investors and potential industry partners.
Corporate
As Pitfield advances toward development, we have made strategic additions to our team to ensure we have the right expertise in place. In January 2025, we were delighted to welcome Phil Brumit to the Board as a Non-Executive Director and Chair of our Technical Committee. Phil brings more than 40 years of operational and project management experience across leading global mining companies, including Freeport-McMoRan, Lundin Mining, and Newmont Corporation. His proven track record in overseeing large-scale projects from development through to production will continue to be invaluable as we pursue an expeditious development of Pitfield.
Following the period end, we further strengthened our technical leadership with the appointments of Alan Rubio as Study Manager and Pocholo Aviso as Hydrometallurgist. Alan brings nearly three decades of experience in project evaluation and development, and will play a central role in assessing mining and infrastructure scenarios, as well as overseeing key economic studies. Pocholo, with his background in the TiO₂ pigment industry and metallurgical expertise, will lead the product development programme, optimising process flowsheets and assessing market pathways. Together, these appointments significantly enhance our ability to quickly advance Pitfield toward feasibility study stage with confidence and precision.
Alongside our operational and corporate progress, we have also been proactive in broadening awareness of the Empire investment proposition to a wider international audience. A key part of this strategy was our decision to commence trading of our shares on the OTCQB Market in the United States in March 2025. We were particularly pleased to be upgraded to the OTCQX Market only a few months later, which is a significant step forward in providing US investors with greater visibility of, and access to, Empire.
Trading on OTCQX opens the Company to a deep and diverse pool of new shareholders, many of whom are actively seeking exposure to strategic metals. Titanium is formally recognised as a critical mineral in numerous jurisdictions, including the United States, and our marketing initiatives across North America have confirmed the strong appetite for high-quality investment opportunities in this sector. Empire is therefore exceptionally well positioned to capture growing international investor interest as Pitfield advances toward commercialisation.
Financial
As an exploration and development group which has no revenue, we are reporting a loss for the six months ended 30 June 2025 of £1,704,821 (30 June 2024: loss of £1,389,318).
In May 2025, the Company announced that it had raised £4.5 million before expenses by way of a placing of 47,368,423 new ordinary shares of no par value to new and existing investors at 9.5p per share.
The Group's cash position as at 30 June 2025 was £6.3 million.
Outlook
The months ahead will be a busy and exciting time for Empire Metals. The maiden MRE will provide a foundation for detailed project evaluation, while ongoing metallurgical testwork will further optimise our flowsheet and advance our understanding of Pitfield's product potential. As we transition into the pilot testing phase, we will be engaging more closely with potential customers, including those in the titanium metal supply chain, to position Pitfield as a long-term, strategic source of secure supply.
At the same time, we will continue to strengthen our team and capabilities to match the scale of the opportunity before us. With a world-class asset, a highly experienced team, strong financial backing, and a supportive market, we are exceptionally well placed to deliver on the unprecendented opportunity Pitfield presents.
I would like to thank our shareholders for their continued support and confidence in Empire. The progress we have made in such a short time has been extraordinary, and I firmly believe we are only at the beginning of a highly rewarding journey that will see Pitfield become established as one of the most important titanium projects globally.
With Pitfield, we are building the foundations of a secure, generational-scale titanium supply business that has the potential to reshape the global titanium industry. The coming months promise to be both exciting and defining, and I look forward to updating you on our continued progress.
Neil O'Brien
Non-Executive Chairman
3 September 2025
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
NOTES TO THE INTERIM FINANCIAL STATEMENTS
1. General Information
The principal activity of Empire Metals Limited ('the Company') and its subsidiaries (together 'the Group') is the exploration and development of precious and base metals. The Company's shares are quoted on the AIM Market of the London Stock Exchange. The Company is incorporated in the British Virgin Islands and domiciled in the United Kingdom. The Company was incorporated on 10 February 2010 under the name Gold Mining Company Limited. On 10 October 2016 the Company changed its name from Noricum Gold Limited to Georgian Mining Corporation and subsequently on 10 February 2020 changed its name from Georgian Mining Corporation to Empire Metals Limited.
The address of the Company's registered office is Craigmuir Chambers, PO Box 71, Road Town, Tortola BVI.
2. Basis of Preparation
The condensed consolidated interim financial statements have been prepared in accordance with the requirements of the AIM Rules for Companies. As permitted, the Company has chosen not to adopt IAS 34 "Interim Financial Statements" in preparing this interim financial information. The condensed interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2024, which have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union.
The interim financial information set out above does not constitute statutory accounts. They have been prepared on a going concern basis in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) as adopted by the European Union. Statutory financial statements for the year ended 31 December 2024 were approved by the Board of Directors on 5 June 2025. The report of the auditors on those financial statements was unqualified.
Going concern
The Directors, having made appropriate enquiries, consider that adequate resources exist for the Group to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the condensed interim financial statements for the period ended 30 June 2025.
The factors that were extant in the 31 December 2024 Annual Report are still relevant to this report and as such reference should be made to the going concern note and disclosures in the 2024 Annual Report.
Risks and uncertainties
The Board continuously assesses and monitors the key risks of the business. The key risks that could affect the Group's medium-term performance and the factors that mitigate those risks have not substantially changed from those set out in the Group's 31 December 2024 Annual Report and Financial Statements, a copy of which is available on the Group's website: https://www.empiremetals.co.uk. The key financial risks are liquidity risk, foreign exchange risk, credit risk, price risk and interest rate risk.
Critical accounting estimates
The preparation of condensed interim financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and disclosure of contingent assets and liabilities at the end of the reporting period. Significant items subject to such estimates are set out in note 4 of the Group's 31 December 2024 Annual Report and Financial Statements. Actual amounts may differ from these estimates. The nature and amounts of such estimates have not changed significantly during the interim period.
3. Accounting Policies
The same accounting policies, presentation and methods of computation have been followed in these condensed interim financial statements as were applied in the preparation of the Group's annual financial statements for the year ended 31 December 2024.
3.1 Changes in accounting policy and disclosures
(a) New and amended standards mandatory for the first time for the financial periods beginning on or after 1 January 2025.
The International Accounting Standards Board (IASB) issued various amendments and revisions to International Financial Reporting Standards and IFRIC interpretations. The amendments and revisions were applicable for the period ended 30 June 2025 but did not result in any material changes to the Financial Statements of the Group.
b) New standards, amendments and interpretations in issue but not yet effective or not yet endorsed and not early adopted.
There are a number of standards, amendments to standards, and interpretations which have been issued by the IASB that are effective in future accounting periods and which have not been adopted early.
4. Administrative expenses
5. Dividends
No dividend has been declared or paid by the Company during the six months ended 30 June 2025 (2024: nil).
6. Intangible Assets
The Exploration & Evaluation additions in the current period primarily relates to work performed at the Company's Pitfield project.
The Directors do not consider the asset to be impaired.
7. Held for Sale Asset
The Company continue to work on a potential divestment of the Eclipse project and are actively engaged with a number of Australian companies operating in the gold mining sector to find a buyer. Management are committed to the sale of the Eclipse licence.
8. Trade and Other Payables
9. Share capital and share premium
10. Earnings per share
The calculation of the total basic loss per share of 0.260 pence (30 June 2024: 0.230 pence) is based on the loss attributable to equity owners of the parent company of £1,704,821 (30 June 2024: £1,389,318 ) and on the weighted average number of ordinary shares of 651,359,884 (30 June 2024: 595,703,671) in issue during the period.
Details of share options that could potentially dilute earnings per share in future periods are disclosed in the notes to the Group's Annual Report and Financial Statements for the year ended 31 December 2024.
2,000,000 options were granted during the period. The total number of options outstanding at 30 June 2025 is 67,200,000.
11. Commitments
Commitments stated in the Group's Annual Financial Statements for the year ended 31 December 2024 remain.
12. Events after the balance sheet date
There have been no events after the reporting date of a material nature.
13. Approval of interim financial statements
The condensed interim financial statements were approved by the Board of Directors on 3 September 2025.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Boliden Mineral Canada, a subsidiary of Sweden’s Boliden AB (STO:BOL,OTC Pink:BDNNY), has entered into a definitive agreement with Golden Sky Minerals (TSXV:AUEN,OTC Pink:LCKYF) to spend up to C$20 million on exploration of the Rayfield copper-gold property in British Columbia.
The agreement grants Boliden the right to earn up to an 80 percent interest in Golden Sky’s wholly owned Rayfield project by funding staged expenditures and cash payments over six years.
The Rayfield and Gjoll properties together cover 87,660 hectares within the Quesnel Trough, a prolific porphyry copper belt that hosts some of Canada’s largest operating mines, including Highland Valley, Gibraltar, and New Afton.
Despite its long history of production, significant areas of the belt remain under explored.
“This partnership is transformational for Golden Sky. Boliden’s decision to collaborate with us on Rayfield-Gjoll validates the district-scale copper-gold potential of this project,” said John Newell, president and CEO of Golden Sky.
Early exploration has outlined a sizable target at Rayfield. A 2024 geophysical survey identified a 600 by 1,100 metre chargeability and resistivity anomaly closely associated with gold and copper mineralization, supported by results from historical drilling.
Under the agreement, Golden Sky will remain the project operator during the earn-in period. Should Boliden complete its investment, the joint venture will move forward with pro-rata funding obligations based on ownership.
Copper demand is projected to rise sharply in coming decades as electrification drives investment in renewable energy, transmission grids, and electric vehicles.
Companies with exposure to large-scale porphyry systems in politically stable jurisdictions are increasingly viewed as well-positioned to benefit.
The deal in British Columbia also follows a milestone for Boliden in its home market.
Just one day before announcing the Golden Sky agreement, the Swedish company secured a mining concession for its Laver deposit in northern Sweden.
The concession grants rights to extract copper, gold, silver, and molybdenum, though additional environmental permits will be required before a final investment decision can be made.
“We naturally welcome this news. The Laver deposit has the potential to make a substantial contribution, particularly to Europe’s copper supply,” said Stefan Romedahl, director of Boliden Mines, in a September 2 press release.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
In the delicate balancing act between meeting the rising global demand for critical minerals and ensuring environmental responsibility in resource extraction, processes and technologies that can achieve both aims are winning in the eyes of junior explorers and investors.
In copper mining, in-situ recovery (ISR) is emerging as a cost-efficient and lower-impact alternative to open-pit and underground mining. ISR is a mining method that extracts copper directly from orebodies without traditional excavation. Projects that are amenable to the ISR process, which involves injecting a leaching solution into the ground and recovering dissolved copper through wells, are attracting growing interest from miners and investors alike.
This shift comes as the global push for electrification accelerates copper demand across industries — from electric vehicles and solar power to grid expansion and data infrastructure. Traditional copper mines, often burdened by rising costs, deeper orebodies and environmental opposition, are struggling to meet this demand.
With reduced capital requirement, minimal surface disruption and quicker permitting timelines, ISR represents a scalable and ESG-aligned approach to copper extraction. Active projects in the US and Central Asia are already demonstrating ISR’s feasibility, and exploration is expanding into new regions where the geology is suitable.
One of the most compelling reasons ISR is drawing investor interest is its potential to solve several longstanding issues in copper mining. Traditional mines are facing higher costs as they chase deeper and more complex orebodies. At the same time, environmental and social opposition to disruptive mining practices is on the rise. ISR, by comparison, generates less visual and physical disturbance, often making it more palatable to regulators and communities.
ISR also offers scalability and flexibility. In regions where suitable geology exists, it enables smaller companies to bring projects online faster and with fewer permitting delays.
In the current market, where supply chain pressures and copper scarcity are top of mind, the ability to deploy a lower-cost extraction method with fewer environmental risks presents a strong value proposition.
Several ISR copper projects have already demonstrated commercial and technical viability. In the US, the Florence copper project in Arizona, operated by Taseko Mines (TSX:TKO,NYSEAMERICAN:TGB), is advancing toward production with an estimated 85 million pounds of annual copper output and a pre-tax net present value of more than $1 billion.
Gunnison Copper's (TSX:MIN,OTCQB:GCUMF) Gunnison copper project, also in Arizona, has completed permitting and begun phased implementation with minimal surface impact. Similar ISR applications are being tested in Kazakhstan and Chile, expanding the global footprint of this technology.
Not every copper deposit is suited for ISR.
Success depends on a specific set of geological and hydrogeological conditions. The ore must be permeable enough to allow the leaching solution to flow and interact with copper minerals. It should ideally be located below the water table in a contained setting, reducing the risk of solution migration outside the target zone. Mineralogy matters too; minerals like chalcocite, which are highly amenable to acid leaching, make the best candidates.
Regions like Arizona and parts of Central Asia have long been recognised for these attributes. Now, new ISR frontiers are emerging in Africa, where countries such as Botswana offer favorable geology and a stable mining jurisdiction. Botswana’s Kalahari Copper Belt, in particular, is rapidly attracting exploration interest for its sediment-hosted copper systems and untapped ISR potential.
One of the most promising ISR prospects in Botswana is being developed by Cobre Limited (ASX:CBE), an ASX-listed junior explorer with a strategic footprint in the Kalahari Copper Belt. Through its flagship Ngami copper project, Cobre is positioning itself as a first mover in ISR development across the region.
The Ngami deposit meets key ISR criteria. Metallurgical testing has confirmed that its copper-silver mineralisation — primarily fine-grained chalcocite — is highly suitable for acid leaching. Fracture mapping and pump tests have demonstrated that the orebody is permeable, with strong fluid connectivity and competent bounding rock that can contain solution flow. Most of the ore lies below the water table, an essential condition for effective in-situ leaching.
“Our goal is to bring a scalable, low-impact copper project to life in Botswana, using cutting-edge ISR technology. This isn’t just about producing copper — it’s about doing it smarter and more sustainably,” said CEO Adam Wooldridge.
The company has already completed injection and pumping tests, simulating fluid movement between wells to build a three-dimensional model of the orebody’s hydrology. Initial results indicate excellent permeability and fluid flow characteristics. Bottle roll tests have yielded copper recoveries as high as 90.7 percent, with low reagent consumption. In addition, long-term leach box tests designed to simulate the in-situ environment have been successfully completed with recoveries of up to 82 percent copper.
The company is backing this technical progress with a comprehensive exploration and development strategy. It has outlined a significant exploration target, recently completed infill drilling to upgrade parts of the resource into the JORC category, and is pursuing engineering and financial modeling to support future feasibility studies.
These milestones, coupled with an earn-in agreement with mining giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP), strengthen Cobre’s position as a credible ISR innovator in the African region.
Cobre’s ISR approach reflects the broader trend of aligning mineral extraction with ESG principles. By minimising land disturbance, using water-efficient systems and reducing surface infrastructure, ISR fits well into modern sustainability frameworks. In Botswana — a country ranked among the top 10 mining jurisdictions, globally — Cobre is also benefiting from strong institutional support and a clear regulatory environment.
As copper demand continues to outpace traditional supply growth, in-situ copper recovery offers a timely and compelling alternative. For investors seeking exposure to scalable, ESG-conscious mining opportunities, ISR is no longer just an experimental method; it is a practical solution with growing momentum.
This INNspired article is sponsored by Cobre Limited (ASX:CBE). This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by Cobre Limited in order to help investors learn more about the company. Cobre Limited is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Cobre Limited and seek advice from a qualified investment advisor.
Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide an update on its royalty portfolio.
Electric Royalties CEO Brendan Yurik commented: "We are pleased to announce the receipt of approximately C$210,000 in revenues since our December 2024 royalty acquisition on the Punitaqui Copper Mine in Chile, with the operator executing its plan to increase production in the coming months. As a result, we expect to see an increased pace of revenues from Punitaqui in the coming quarters.
"Additionally, substantive progress has been made on nine additional royalty assets within our portfolio, all of which are located within favorable jurisdictions. Notably, rubidium resources have been added at the Seymour Lake Lithium Project in Ontario, which has received additional mining leases and is currently undergoing a Feasibility Study.
"Meanwhile, product qualification activities at the Eric Sprott-backed Battery Hill Manganese Project in New Brunswick continue to advance, achieving an 80% increase in manganese mill feed grade through improved ore sorting methods as it begins a Pre-Feasibility Study in Q3 2025.
"Extensive geological assessments have been conducted at the Kenbridge Nickel Project in Ontario, alongside efforts to secure year-round site access. At the Mont Sorcier Iron and Vanadium Project in Quebec, an infill drilling program is underway in advance of a Feasibility Study scheduled for release in Q1 2026.
"Northern Graphite, operator of the Bissett Creek Graphite Project in Ontario, has secured financing from the Canadian government and continues to develop its battery manufacturing facility, and the Graphite Bull Graphite Project in Western Australia reported a 345% increase in resources and ongoing success in product qualification. Further, the Zonia Copper Project in Arizona may transition to a new operator focused on commencing production.
"We look forward to updating our shareholders on continued progress across our portfolio of 43 royalties in the coming months."
Highlights since the Company's previous update (see Electric Royalties' news release dated April 16, 2025) include:
Punitaqui Copper Mine (0.75% Gross Revenue Royalty) - On June 30, 2025, Battery Mineral Resources Corp. (TSXV:BMR) ("BMR") announced that during the period from January 1 to June 24, 2025, it shipped a total of 7,533 dry metric tonnes ("DMT") of copper concentrates, all produced at the Punitaqui flotation plant in Chile. The concentrates averaged 22.6% copper, amounting to approximately 3,753,273 pounds of contained copper.
6,700 DMT were sourced directly from BMR's Punitaqui mines, processed at BMR's Los Mantos mill, then trucked to Terminal Portuario de Coquimbo. The remaining 833 DMT originated from copper-smelting slags supplied by Anglo American Sur S.A. ("Anglo") under an offtake agreement. These concentrates were delivered to Anglo's Chagres smelter in Catemu, Chile.
According to BMR, it continues to make steady progress on increasing mine production and the availability of the Los Mantos mill. BMR management has implemented several initiatives to improve the performance of underground mining equipment and increase ore extraction rates, as well as improving mill performance through maintenance programs.
BMR's near-term goal is to increase production from the Punitaqui mines to approximately 2,000 DMT of copper concentrates per month, and to reach a production rate of approximately 2,500 to 2,700 DMT of copper concentrates per month by the end of 2025.
On July 28, 2025, BMR announced that Minera BMR SpA, its wholly-owned Chilean subsidiary, has received unanimous approval by all relevant environmental authorities of the Environmental Impact Statement that enables operations to continue for up to an additional ten years at the Los Mantos Copper Plant.
Electric Royalties is relying on the information provided by BMR.
Seymour Lake Lithium Project (1.5% Net Smelter Royalty) -On July 24, 2025, Green Technology Metals Limited (ASX:GT1) ("Green Technology Metals") announced the discovery of significant rubidium mineralization at the Seymour Lake Project in Ontario, Canada. This follows a detailed review of historical exploration data and metallurgical test work, culminating in the establishment of an inaugural Rubidium Mineral Resource under JORC standards at the North Aubry deposit1.
According to Green Technology Metals, this resource positions Seymour Lake among the most significant rubidium projects globally, distinguished by its scale, grade, and classification confidence relative to other reported rubidium resources.
Rubidium, a critical mineral in the United States, is vital for defense, quantum technologies, and advanced electronics supply chains.
On August 7, 2025, Green Technology Metals announced that it has successfully produced battery-grade lithium hydroxide from the Seymour Lake Project's spodumene bulk sample. This outcome - achieved with its partner EcoPro Innovation, a Korean battery materials producer - meets benchmarked end-user specifications. The results will be utilized in the Pre-Feasibility Study (PFS) for the proposed lithium conversion facility in Ontario.
On August 12, 2025, Green Technology Metals announced that the Ontario Ministry of Mines has granted two additional 21-year mining leases for the Seymour Lake Project, bringing the total number of required mining leases to three, which provides full coverage over the proposed lithium mine and concentrator infrastructure area. For a full update on the project permitting process, see Green Technology Metals' August 12, 2025 news release.
Electric Royalties is relying on the information provided by Green Technology Metals and is unable to verify the mineral resource estimate and metallurgical results.
Battery Hill Manganese Project (2.0% Gross Metal Royalty) - On May 14, 2025, Manganese X Energy Corp. (TSXV:MN) ("Manganese X") announced positive preliminary test results from Phase 2 testing of its high-purity, battery-grade manganese material as part of a three-phase supply chain qualification program with U.S.-based battery innovation company Charge CCCV. The test samples were produced from the Battery Hill Project in New Brunswick, Canada. According to Manganese X, the strong results from Phase 1 and continued positive performance in Phase 2 reinforces its confidence in the potential of its high-purity manganese product's use in electric vehicle batteries.
On August 12, 2025, Manganese X announced positive Phase 2 ore-sorting results, demonstrating an 80% increase in mill feed grade in its large-scale Battery Hill pilot program, managed by ABH Engineering. According to Manganese X, the 80% increase means that, after ore-sorting, the material sent to the mill contains 80% more manganese per tonne than the original mined material. The study was conducted in preparation for the Battery Hill PFS, scheduled to commence in Q3 2025. Manganese X is having ongoing discussions with lead consultants regarding the integration of ore-sorting into the Battery Hill PFS program.
Electric Royalties is relying on the information provided by Manganese X and is unable to verify the test results.
Surge Lithium Project (1.5% Net Smelter Royalty) - On May 22, 2025, Xplore Resources Corp. (TSXV:EXPLR) ("Xplore") announced the completion of an airborne magnetic survey at the Surge Project in Ontario, Canada. According to Xplore, the survey results show linear magnetic highs extending from Green Technology Metals' Root Bay lithium deposit through the Surge Project. The trend extends for over 17 km on the Surge Project and is interpreted by Xplore as iron formation and greenstone dismembered with abrupt magnetic breaks. According to Xplore, these breaks match spatially with known pegmatites drilled by Green Technology Metals and may represent pegmatite intrusions, defining new high-priority targets for follow-up exploration. Field crews are scheduled to begin mapping and prospecting these new targets in May.
Electric Royalties is relying on the information provided by Xplore and is unable to verify the survey results.
Kenbridge Nickel Project (0.5% Gross Revenue Royalty) - On April 22, 2025, Tartisan Nickel Corp. (CSE:TN) ("Tartisan") announced the completion of an operational, restricted-access road to the Kenbridge Project in Ontario, Canada.The road improves logistics for the project which was previously only accessible by floatplane or ATV.
On May 1, 2025, Tartisan announced the initiation of a comprehensive airborne geophysics program and a greenfields exploration program at Kenbridge. The geophysics program aims to enhance the understanding of the subsurface geology including identifying potential extensions of the Kenbridge deposit, and will assist in the identification of areas for prospecting, sampling and drilling within the 4,273-hectare Kenbridge land package. The four-week Greenfields exploration program will focus on under-explored areas within the property, which will include the Kenbridge patents, mining claims and leases leveraging previous exploration data to delineate and define potential base metal and precious metal mineralization.
On June 19, 2025, Tartisan announced the completion of Phase 2 of the Kenbridge Nickel Project access corridor and that it has made significant improvements to the operational access road. Phase 2 prioritized establishing reliable year-round pickup access to the Kenbridge site and core shack. The Company also received approval for Phase 3, a result of close collaboration with Indigenous communities and with the Minister of Natural Resources staff in Kenora, Ontario. Phase 3 will allow Tartisan to ultimately float large equipment including the delivery of fuel to site.
Electric Royalties is relying on the information provided by Tartisan.
Mont Sorcier Iron and Vanadium Project (1.0% Gross Metal Vanadium Royalty) - On May 1, 2025, and August 21, 2025, Cerrado Gold Inc. (TSXV:CERT) ("Cerrado") provided updates on the Mont Sorcier Project near Chibougamau, Québec, in its news releases discussing quarterly financial results. Work continued to advance at the project with several workstreams related to permitting, social license and the initiation of the Feasibility Study which is targeted to be completed during Q1 2026.
On July 17, 2025, Cerrado announced that it has commenced an infill drill program to update sufficient resources to the Proven and Probable categories to support the ongoing Feasibility Study, with assay results pending.
Electric Royalties is relying on the information provided by Cerrado.
Bissett Creek Graphite Project (1.5% Gross Revenue Royalty) - On April 16, 2025, Northern Graphite Corporation (TSXV:NGC) ("Northern Graphite") announced its partnership with real estate and infrastructure development company The BMI Group to evaluate the feasibility of establishing a Battery Anode Material facility at a former paper mill in Baie-Comeau, Quebec.
On April 23, 2025, Northern Graphite announced the receipt of a letter of support from the Port of Rotterdam, Europe's largest port and a strategic hub for critical raw materials, for the planned Baie-Comeau facility. The port has identified Northern Graphite's facility as a potential anchor development in a new transatlantic graphite supply chain that aligns with an agreement between the Dutch and Quebec governments to cooperate on critical raw materials.
Once built, Northern Graphite anticipates the facility to be one of the first large-scale facilities outside of Asia to deliver graphite anode material to electric vehicle markets in North America and Europe, and is expected to process concentrates from Northern Graphite's mines (and potentially concentrates from the Bissett Creek Project in Ontario, Canada).
On August 26, 2025, Northern Graphite announced that the Canadian government has agreed to provide a repayable contribution of up to approximately C$6 million to support extending the life of its Lac des Îles mine in Quebec - North America's only operating graphite mine.
Electric Royalties is relying on the information provided by Northern Graphite. Electric Royalties holds a 1.5% Gross Revenue Royalty on Northern Graphite's Bissett Creek Project and is providing the update on the Lac des Îles mine, on which it doesn't hold a royalty interest, for informational purposes only.
Graphite Bull Graphite Project (0.75% Gross Revenue Royalty) - On February 16, 2025, Buxton Resources Limited (ASX:BUX) ("Buxton") announced an updated mineral resource estimate ("MRE") under JORC standards for the Graphite Bull Project in Western Australia, that increases contained graphite by 345% to 2.25 million tonnes at 7% Total Graphitic Carbon ("TGC") cut-off. The mineral resource includes 7.61 million tonnes at 11.6% TGC in the indicated category and 13.1 million tonnes at 10.4% TGC in the inferred category, at a 7% TGC cut-off2. Buxton CEO Marty Moloney stated: "This updated MRE improves the tonnage, thickness, strike extent and geological confidence of the Graphite Bull Project, with numerous shallow drill targets remaining as exploration upside."
As announced by Buxton on March 31, 2025, downstream qualification test work on Graphite Bull material is well underway with results expected in July 2025. The test work results, along with Buxton's updated MRE, will guide its plans for further work at Graphite Bull.
On July 9, 2025, Buxton announced that BTR New Material Group ("BTR"), the world's largest anode manufacturer, successfully qualified ore from Graphite Bull for BTR's entire ore-to-anode production process. BTR confirmed this material meets its proprietary specifications for flake concentrate produced from ore via simple flotation, coated purified spheronized graphite ("CPSG"), compatibility with BTR's anode production methods and electrochemical performance standards, and that batteries fabricated using Graphite Bull CPSG meet BTR's customer requirements. According to Buxton, this qualification is significant, given BTR's market leadership and supply to major battery companies like CATL and Samsung.
Electric Royalties is relying on the information provided by Buxton and is unable to verify the mineral resource estimate and BTR test work results.
Millennium Copper-Cobalt Project (0.5% Gross Revenue Royalty) - On April 14, 2025, Metal Bank Limited (ASX:MBK) ("Metal Bank") announced receipt of a grant of AUD$275,000 for further exploration at the Millennium Project in Queensland, Australia. The grant forms part of the Queensland Government's current Collaborative Exploration Initiative program in support of the critical minerals industry, and follows the identification of significant graphite drill intersections in late 2024. The grant will aid in understanding of the scope, distribution and economic implications of graphite at Millennium that has now been traced over 2 km of strike.
Metal Bank plans to undertake additional work on both graphite potential and expansion of the existing resource while the drill rig is on site. Grant work is scheduled to commence in Q2 2025 with completion before late Q4 2025.
Electric Royalties is relying on the information provided by Metal Bank.
Zonia Copper Oxide Project (0.5% Gross Revenue Royalty) - Further to World Copper Ltd.'s (TSXV:WCU) ("World Copper") announcement on February 19, 2025 regarding a binding letter agreement to sell its interest in the Zonia copper-oxide deposit in Arizona, USA, to an arm's length third-party, it announced on May 6, 2025 that it had terminated the agreement.
Subsequently, on July 23, 2025, World Copper and Plata Latina Minerals Corporation ("Plata") announced an arm's length definitive agreement for Plata to acquire the Zonia Project from World Copper by way of a court-approved plan of arrangement. Plata Latina will be renamed Edge Copper Corporation upon closing of the transaction.
Plata's President and CEO, Letitia Wong, stated: "With Zonia located on private and patented lands, the permitting process is expected to be more efficient and streamlined, enhancing project development certainty. Under the leadership of our highly experienced project team -recognized for its success in advancing copper projects in Arizona - we look forward to moving Zonia toward construction in the near to medium term."
Closing is expected to occur in Q4 2025. For additional details on the transaction, see World Copper's news release dated July 23, 2025.
Electric Royalties is relying on the information provided by World Copper.
Alan Roberts, a Certified Professional Geologist ("CPG") # 11260 by the American Institute of Professional Geologists, and a qualified person, who is not independent of Electric Royalties, has reviewed and approved the technical information contained in this release.
1 Green Technology Metals news release dated July 24, 2025, titled "LARGE, HIGH GRADE RUBIDIUM RESOURCE IDENTIFIED AT THE SEYMOUR PROJECT", JORC Code, 2012 Edition - Table 1. The 2023 Mineral Resource Estimate is reported above 0.2% Li2O cut-off. The cut-off is based on lowest potential grade at which a saleable product might be extracted using a conventional DMS and/or flotation plant and employing a TOMRA Xray sorter (or equivalent) on the plant feed. A number of pegmatites outcrop at surface thus the mineral resource is likely to be extracted using a conventional drill and blast, haul and dump mining fleet. The Seymour Mineral Resource is reported using open-pit mining constraints. The open-pit Mineral Resource is only the portion of the resource that is constrained within a US$4,000/t SC6 optimized shell and above a 0.2% Li2O cut-off grade. The optimized open pit shell was generated using: $4/t mining cost, $15.19/t processing costs, mining loss of 5% with no mining dilution, 55 degree pit slope angles, 75% Product Recovery. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
2 Buxton Resources news release dated February 17, 2025, titled "Graphite Bull Resource Expands 345%", JORC Code, 2012 Edition -Table 1. The MRE is reported above the 200 m RL, which is approximately at a depth of 200 m below topographic surface. This depth is considered to be a reasonable depth to which conventional open pit mining will reach, based on in-house mining studies, benchmarking and DCF modelling which indicates that strip ratios below 5:1 will be required to define economic mining scenarios. The MRE is reported above a cut-off grade of 7% TGC, which is recommended by Buxton and based upon analyses of commodity prices, other similar projects, cost estimates for mining and processing, and assumptions regarding a breakeven TGC grade. Mineral Resources that are not Mineral Reserves do not have demonstrated economic
viability.
About Electric Royalties Ltd
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 43 royalties in lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper across the world. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades toward a decarbonized global economy.
Company Contact
Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: Brendan.yurik@electricroyalties.com
https://www.electricroyalties.com/
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Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR+ as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at sedarplus.ca and at otcmarkets.com.