Electric Royalties Reports Operating Growth and Broad Advancement Across Critical Metals Royalty Portfolio
Electric Royalties Ltd. (ELEC) has released a comprehensive update on its royalty portfolio, highlighting significant operational improvements at its Punitaqui asset, major drilling and financing milestones at Zonia, and several key corporate transactions across its holdings. The update underscores tangible progress in both operating performance and development activities, reinforcing the value of the company’s royalty model.
At the Punitaqui mine in Chile, operator Battery Mineral Resources reported strong Q1 2026 results. Copper-concentrate sales volume reached 5,581 dry metric tonnes, representing a 26% year-over-year increase. Revenue rose 58% year-over-year to C$21.3 million, while gross profit jumped from C$3.4 million to C$10.3 million. This performance drove gross margins to 49%, up from 25%, supported by higher volumes and an average realized copper price of US$5.83/lb, compared to US$4.19/lb previously. To support ongoing operations, Battery Mineral Resources raised C$2.76 million in April and May 2026 for plant operations and underground development.
In Arizona, USA, Zonia operator Edge Copper closed a public offering and private placement for gross proceeds of approximately C$23.04 million. The company also reported results from a 54,000-foot drilling program conducted between May and July 2026, covering 27 holes. The drilling confirmed broad oxide-copper mineralization, including intercepts extending beyond the Preliminary Economic Assessment (PEA) pit design and below the modeled oxide base. Key intercepts included:
- Hole ZND0028: 290 feet at 0.40% total Cu from 441 feet, including 50 feet at 1.69% total Cu.
- Hole ZND0027: 697 feet at 0.28% total Cu.
- Hole ZND0049: 544 feet at 0.27% total Cu from surface.
An updated mineral resource estimate for Zonia is targeted for the fourth quarter of 2026.
The portfolio update also detailed significant corporate transactions and developments across other assets. Nyrstar completed the sale of its U.S. assets, including the Middle Tennessee mining complex, to Korea Zinc, with the transaction closing on April 1, 2026. In Alaska, Noronex secured a binding heads of agreement for an exclusive 60-day option to acquire Strongbow Alaska Inc., which owns the Sleitat project. Historical data for Sleitat includes a U.S. Bureau of Mines estimate of 25.9 million tonnes grading 0.224-0.37% Sn, 0.04% W, and 17 g/t Ag, along with historical down-hole intervals such as 29.1m at 1.56% Sn and 28 g/t Ag from 20.4m, including 3.1m at 12.55% Sn and 198 g/t Ag.
In Canada, Battery Hill operator Manganese X received a U.S. patent for its high-purity manganese sulphate monohydrate process and advanced to Phase 3 of C4V battery qualification. The company also received C$1.71 million from the early exercise of warrants by an Eric Sprott-controlled corporation. At Seymour Lake, Green Technology Metals completed an A$11.0 million recapitalization and received up to C$500,000 in non-repayable funding from Ontario’s Critical Minerals Innovation Fund, with the first C$200,000 already received. A Definitive Feasibility Study (DFS) is targeted for completion in Q4 2026. Meanwhile, Tartisan Nickel retained Tetra Tech for a GAP analysis to advance its Kenbridge project to pre-feasibility and completed an airborne MobileMT electromagnetic survey over approximately 47 square kilometers. Cerrado Gold advanced its bankable feasibility study for Mont Sorcier, targeting an optimized 8 Mtpa two-stage development concept, with the study targeted for H1 2027 and permitting around year-end 2028.
In Australia, Metal Bank reported initial flotation results for graphite at the Millennium project, yielding a fine concentrate grading up to 73.5% total graphitic carbon at 70.6% recovery. Hammer Metals executed a scheme implementation deed for the acquisition of its Cobalt Ridge and Mt Dorothy projects by Austral Resources, a transaction conditional on shareholder and court approval and regulatory clearances, with completion targeted for November 2026.
Other developments include Li-FT Power completing the acquisition of Winsome Resources at the Cancet project in Quebec, with a 2026 field-work plan filed for August-October 2026. Burley Minerals completed an A$1.0 million capital raise at the Chubb project and is evaluating additional exploration or joint-venture options. Finally, Xplore Resources commenced high-resolution airborne magnetic surveying at its Surge project in Ontario.
Brendan Yurik, CEO of Electric Royalties Ltd., commented: "The period since our March update has delivered tangible operating and development progress across the portfolio: Punitaqui reported higher concentrate sales and substantially improved margins, while Zonia attracted more than C$23 million of new financing and drilling continued to confirm broad oxide-copper mineralization, including beyond the PEA pit design... This expanded portfolio-wide review reinforces the breadth of progress being funded and executed by project operators, preserving the core value of our royalty model."