Electric Royalties talks royalty portfolio

Executive Summary

• Electric Royalties Ltd. provides a comprehensive update on its critical metals royalty portfolio, highlighting significant technical and development milestones across its graphite, manganese, lithium, iron-vanadium, and nickel assets.
• The company emphasizes the strategic positioning of its assets in the context of Western economies seeking non-Chinese supply chains for battery materials and industrial minerals.
• Multiple projects are advancing toward feasibility studies or commercial validation, with specific catalysts including the Graphmada scoping study, Battery Hill phase 3 testing, and feasibility studies for Seymour Lake and Mont Sorcier targeted for Q2 2026.

Key Details

• Graphmada Graphite Mine (2.5% NSR):
  • Greenwing Resources Ltd. announced a Stage 2 scoping study on Oct. 28, 2025, to assess mine restart and expansion pathways in Madagascar.
  • Study basis includes JORC-compliant resource estimates, existing production records, and installed infrastructure.
  • Greenwing is pursuing funding from the EU, Japan, and other government agencies to reduce dependence on single-country graphite concentrates.
• Battery Hill Manganese Project (2.0% Gross Metal Royalty):
  • Manganese X Energy Corp. completed phase 2 battery testing with Charge CCCV, achieving 70% capacity retention after 4,600 cycles.
  • Performance metrics: More than double the cycle life of conventional NMC-based EV batteries; outperforms LFP and LMFP chemistries.
  • Phase 3 testing will evaluate material in multilayer pouch cells (3Ah design) to meet end-user requirements.
  • Prefeasibility study (PFS) commenced on Dec. 3, 2025, incorporating optimized processing flowsheets and ore sorting enhancements; expected completion in 2026.
  • Project supported by financial backing from mining investor Eric Sprott.
• Seymour Lake Lithium Project (1.5% NSR):
  • Green Technology Metals announced the feasibility study (FS) is ~70% complete, with completion targeted for Q2 2026.
  • FS incorporates a revised site layout for hybrid underground mining, resulting in a 45% reduction in environmental footprint (removal of South Dam, smaller pits).
  • Majority of permitting requirements are complete; investment decision targeted for 2026, followed by construction and production.
• Mont Sorcier Iron and Vanadium Project (1.0% Gross Metal Vanadium Royalty):
  • Cerrado Gold Inc. reported the FS is well advanced, targeting completion in Q2 2026.
  • Project economics expected to feature high margins, low operating costs, and low capital intensity due to location, low strip ratio, and infrastructure (rail access, Port of Saguenay).
  • Construction potentially commencing mid-2028, subject to permitting and financing.
• Kenbridge Nickel Project (0.5% Gross Revenue Royalty):
  • Tartisan Nickel Corp. retained Rodren Drilling Ltd. for phase 1 drilling in Ontario, Canada.
  • Drilling objectives: Convert inferred resources to measured/indicated categories and evaluate potential extensions of high-grade nickel-copper mineralization at depth.
  • Program supports an updated mineral resource estimate and a forthcoming prefeasibility study.
• General Portfolio Context:
  • Electric Royalties holds a portfolio of 43 royalties across lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc, and copper.
  • Focus is on advanced-stage and operating projects in low geopolitical risk jurisdictions.

Notable Quotes

• Brendan Yurik, CEO: "Across our portfolio, the latest project updates reinforce our clear trajectory toward value creation and derisking. We are particularly encouraged that the past-producing Graphmada graphite mine is now under active review for expanded production... positioning Graphmada as a premier graphite supply chain asset as Western economies increasingly prioritize non-China sources for battery-anode and advanced industrial demand."
• Brendan Yurik, CEO: "We are also pleased to highlight the battery-performance breakthrough by Manganese X... a meaningful validation of the commercial potential of Battery Hill's high-purity manganese material."
• Brendan Yurik, CEO: "Taken together, these updates highlight the growing strength, diversification and maturity of our asset base. With multiple catalysts ahead, including multiple feasibility studies and continued technical advancements across the portfolio, we believe we are well positioned to benefit from rising demand across the critical minerals space and to deliver sustained, long-term value for shareholders."