Electric Royalties Reports Permitting Progress and New Exploration Results Across Critical Metals Royalty Portfolio

Electric Royalties Ltd. (ELEC) released a portfolio update covering permitting milestones, drilling results, and corporate transactions across its 43 royalty holdings.

At the Seymour Lake Lithium project in Ontario, operator Green Technology Metals completed the environmental assessment for forest-resource removal. The Definitive Feasibility Study (DFS) is now targeted for Q4 2026–Q1 2027, with financing and final investment decision (FID) pushed to Q2 2027 and production targeting 2028.

At the Zonia Copper Oxide project in Arizona, operator Edge Copper reported 10 new drill holes (37 total), including: - 287 ft at 0.73% Cu - 165 ft at 0.46% Cu

These results extend beyond the current PEA pit design. An updated mineral resource estimate is targeted for Q4 2026.

At the Sleitat Tin-Tungsten project in Alaska, operator Noronex commenced approximately 250 line-km of magnetic/radiometric surveying and exercised its option to acquire Strongbow Alaska. First drilling is planned for the next field season pending permits and funding.

At the Kenbridge Nickel project in Ontario, operator Tartisan identified conductive responses via borehole EM surveying and outlined a staged technical program toward a Pre-Feasibility Study (PFS).

At the Mont Sorcier project in Québec, operator Cerrado Gold closed a C$10 million private placement at C$2.50/unit. Proceeds are designated for general working capital, not specific project construction financing.

At the Cobalt Ridge/Mt Dorothy project in Australia, operator Hammer Metals obtained ASX waivers for a proposed acquisition by Austral Resources, conditional on approvals.

At the Bissett Creek project in Ontario, operator Northern Graphite reported severe financial distress, holding C$0.2M in cash and a negative working capital of C$56.6M. A lender waived defaults, and a restructuring with Sprott Streaming aims to eliminate approximately US$22.5M of debt in exchange for amended streaming agreements and 12.5M shares. The Lac des Iles mine restart is unlikely, and Northern may repurchase 0.5% of Electric Royalties' royalty for C$1.5M, reducing ELEC's interest to 1.0%.

At the Penouta project in Spain, owner ETM completed its acquisition on July 21, 2026, targeting an operational review by the end of 2026.

At the Cancet project in Québec, operator Li-FT Power closed a C$23 million public offering at C$2.90/share for care and maintenance during the Renard option period.

Electric Royalties Ltd. (ELEC) released a standard quarterly portfolio update that largely aligns with expectations set in its August 27, 2026 report. At Seymour Lake, an environmental milestone was reached, though a delay in the Definitive Feasibility Study (DFS) to Q4 2026–Q1 2027 and a Final Investment Decision (FID) to Q2 2027 indicates continued permitting and funding headwinds.

Drilling at Zonia continues to confirm broad oxide copper intersections, supporting the metrics from the March 2026 Preliminary Economic Assessment (PEA). The resource update scheduled for Q4 2026 remains the key near-term catalyst for the project. Meanwhile, Mont Sorcier secured C$10M in financing for general working capital, which does not directly de-risk the project's construction timeline.

In contrast, Bissett Creek’s financial distress represents a notable negative development. A potential royalty buyback would reduce ELEC’s interest to 1.0%, acting as a minor de-risking measure while highlighting the fragility of early-stage operators. The update confirms a steady but slow progression of milestones while underscoring operator financial vulnerabilities, with no genuinely new or unexpected information presented.

Electric Royalties Ltd. holds a diversified portfolio of 43 royalties across nine clean energy metals, including copper, lithium, nickel, graphite, manganese, vanadium, zinc, tin, and aluminum. The company operates on a royalty and streaming model, which allows it to avoid direct operational mining costs and capital expenditures.

The firm’s flagship project is the Punitaqui Copper Mine in Chile, which carries a 0.75% gross revenue royalty. A past-producing mine that resumed operations in May 2024, Punitaqui is the primary driver of near-term cash flow. Production is ramping up toward 15,000–16,000 dry metric tonnes in 2025 and 28,000–30,000 dry metric tonnes in 2026.

Other key assets include Zonia (copper, USA), Seymour Lake (lithium, Canada), Battery Hill (manganese, Canada), and Mont Sorcier (vanadium, Canada).