Latest news with #LRC
Business Wire
07-07-2025
- Business
- Business Wire
Lithium Royalty Corp. Renews Normal Course Issuer Bid
TORONTO--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ('LRC') announces today that the Toronto Stock Exchange (TSX) has accepted a notice filed by LRC of its intention to renew its existing normal course issuer bid ('NCIB') that expires July 9, 2025. The TSX notice provides that LRC may, during the 12-month period commencing July 10, 2025 and terminating July 9, 2026, purchase up 1,219,187 of LRC's common shares ('Common Shares'), representing approximately 5% of the issued and outstanding Common Shares, by way of an NCIB on the TSX or through alternative trading systems or by such other means as may be permitted under applicable law. As of July 1, 2025, LRC had 24,383,735 outstanding Common Shares. Based on the average daily trading volume on the TSX of 11,316 Common Shares during the period from January 1 to June 30, 2025, daily purchases will be limited to 2,829 Common Shares, other than block purchase exceptions. Purchases of Common Shares will be made in open market transactions on the TSX or through alternative trading systems. LRC may also purchase Common Shares through private agreements or share repurchase programs if it receives an issuer bid exemption order permitting it to make such purchases. Any purchases of Common Shares made by way of private agreements or under share repurchase programs may be at a discount to the prevailing market price as provided in the relevant issuer bid exemption order. Decisions regarding the timing of future purchases of Common Shares will be based on market conditions, share price, contractual and regulatory restrictions and other factors. LRC may elect to suspend or discontinue its NCIB at any time. Common Shares purchased under the NCIB will be cancelled. LRC believes that the market price of Common Shares could be such that their purchase may be an attractive and appropriate use of corporate funds. From time to time, when LRC does not possess material non-public information about itself or its securities, it may enter into a pre-defined plan with its broker to allow for the purchase of Common Shares at times when LRC ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules. Any such plans entered into with LRC's broker will be adopted in accordance with the requirements of applicable Canadian securities laws. About Lithium Royalty Corp. LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials.
National Post
05-06-2025
- Business
- National Post
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
Article content TORONTO — Lithium Royalty Corp. (TSX: LIRC) ('LRC') is pleased to congratulate Power Metals Corp. ('Power Metals') on its maiden mineral resource estimate ('MRE') for the West Joe Dyke within the Case Lake property in Ontario. Article content The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs 2 O), with a cut-off grade of 0.1% Cs 2 O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. Article content Article content The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. Article content 'The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year,' said Ernie Ortiz, President and CEO of LRC. Article content 'With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp.' Article content Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Article content 2 Article content O with a cut-off grade of 0.1% Cs Article content 2 Article content O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Article content Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Article content Other assets with cesium exposure in the LRC portfolio include: Article content announced Article content that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Article content Grid Metals Donner Lake Project: Article content Grid Metals Article content announced Article content the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ('Tanco'), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. Article content LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Article content Cesium Market Overview Article content Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Article content Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Article content Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Article content The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. Article content About Lithium Royalty Corp. Article content LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Article content Forward Looking Statements Article content This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, Article content expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'potential for', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Article content A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have 'passive foreign investment company' ('PFIC') status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. Article content For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under 'Risk Factors' in the Annual Information Form, and in particular risks summarized under the 'Risks Related to Mining Operations' heading. Article content Article content Article content
Business Wire
05-06-2025
- Business
- Business Wire
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
TORONTO--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ('LRC') is pleased to congratulate Power Metals Corp. ('Power Metals') on its maiden mineral resource estimate ('MRE') for the West Joe Dyke within the Case Lake property in Ontario. The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs 2 O), with a cut-off grade of 0.1% Cs 2 O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. 'The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year,' said Ernie Ortiz, President and CEO of LRC. 'With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp.' Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Key Highlights Power Metals Case Lake Project: Power Metals released their maiden mineral resource estimate at the Case Lake property of 13,000 tonnes inferred mineral resource at 2.4% Cs 2 O with a cut-off grade of 0.1% Cs 2 O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Other assets with cesium exposure in the LRC portfolio include: Winsome Resources' Sirmac-Clapier Project: Winsome announced that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Grid Metals Donner Lake Project: Grid Metals announced the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ('Tanco'), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Cesium Market Overview Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Defense: Night vision imaging, specialty glass Communication: 5G, fiber optic communication, ion cloud communication Emerging energy: novel energy generation including magneto-fluidic and thermo-ionic conversion Medical: medical imaging equipment, pharmaceutical production Aerospace: GPS satellite constellations and civilian and military navigation The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. About Lithium Royalty Corp. LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Forward Looking Statements This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'potential for', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have 'passive foreign investment company' ('PFIC') status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under 'Risk Factors' in the Annual Information Form, and in particular risks summarized under the 'Risks Related to Mining Operations' heading.
Yahoo
05-06-2025
- Business
- Yahoo
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
TORONTO, June 05, 2025--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ("LRC") is pleased to congratulate Power Metals Corp. ("Power Metals") on its maiden mineral resource estimate ("MRE") for the West Joe Dyke within the Case Lake property in Ontario. The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs2O), with a cut-off grade of 0.1% Cs2O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. "The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year," said Ernie Ortiz, President and CEO of LRC. "With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp." Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Key Highlights Power Metals Case Lake Project: Power Metals released their maiden mineral resource estimate at the Case Lake property of 13,000 tonnes inferred mineral resource at 2.4% Cs2O with a cut-off grade of 0.1% Cs2O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Other assets with cesium exposure in the LRC portfolio include: Winsome Resources' Sirmac-Clapier Project: Winsome announced that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Grid Metals Donner Lake Project: Grid Metals announced the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ("Tanco"), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Cesium Market Overview Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Defense: Night vision imaging, specialty glass Communication: 5G, fiber optic communication, ion cloud communication Emerging energy: novel energy generation including magneto-fluidic and thermo-ionic conversion Medical: medical imaging equipment, pharmaceutical production Aerospace: GPS satellite constellations and civilian and military navigation The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. About Lithium Royalty Corp. LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Forward Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "potential for", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have "passive foreign investment company" ("PFIC") status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under "Risk Factors" in the Annual Information Form, and in particular risks summarized under the "Risks Related to Mining Operations" heading. View source version on Contacts Jonida ZaganjoriInvestor Relations(647) 792-1100jonida@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India Gazette
03-06-2025
- Politics
- India Gazette
Union govt notifies rules for domicile certificates in Ladakh
New Delhi [India], June 3 (ANI): The Union government notified the Ladakh Civil Services Decentralisation and Recruitment-Grant of Domicile Certificate (Procedure) Rules, 2025, enacted by the President of India. The rules define the category of domicile and documents to be annexed to the application under the Ladakh Civil Services Decentralisation and Recruitment (Amendment) Regulation, 2025. According to the Gazette of India, the rules shall come into force from the date of their publication in the Official Gazette, which is June 3, 2025. The rules aim at defining the procedure for any person who is eligible for the grant of a Domicile Certificate in Ladakh. An eligible person may apply for domicile to the Competent Authority, in the format to be made by the Administration of Ladakh, either physically or electronically. The rules define five categories under which a Domicile Certificate can be issued. Category 1 being Ladakh Resident Certificate (LRC) Holder or those eligible for LRC, or children of anyone in this category. They will have to present the LRC or a document to prove their eligibility. Category 2 includes children of residents of the Union Territory of Ladakh who resided outside the Union Territory in connection with employment of business, or other professional or vocational reasons. Category 3 includes any person who has resided in Ladakh for fifteen years or children of any such person in this category. They can present any document as proof of residence, such as a Ration Card, immovable property records, educational records, voter list, electricity utility bills, or an employer certificate. A person who has studied for a period of seven years and appeared in class 10th or 12th class examination in an educational institution located in Ladakh can apply for domicile under Category 4. They are required to present a certificate of education issued by the Head of the Institute and verified by the Chief Education Officer of the School Department of the concerned District, from the date of formation of the Union territory of Ladakh, that is, October 31, 2019 and a class 10th or 12th appearance certificate. Category 5 includes the children of Central Government officers, Officials of Public Sector Undertakings, Autonomous Bodies of the Central Government, Public sector Banks, Officials of Central Universities and recognised Research Institutions of the Central Government who shall have served the Union territory of Ladakh for a total period of ten years. (ANI)
