Royalty- und Streamingfirmen für Rohstoffe und Energie

ANGLO PACIFIC GROUP PLC Proposed Increase to Coal Royalty Rate in Queensland, Australia

Anglo Pacific Group PLC (LSE: APF, TSX: APY), notes the proposed addition of three new progressive royalty tiers announced by the Queensland Government on 21 June 2022. The new higher royalty tiers are expected to apply to the royalty the Group receives from the Kestrel mine and are intended to take effect from 1 July 2022.

The previous amendment to the Queensland coal royalty regime in 2012, saw a significant increase to the weighted average royalty rate being applied to the Group’s Kestrel royalty interest. This amendment is expected to have the same impact from the effective date.

The current and proposed statutory royalty rate tiers are as follows:

More information can be found on the royalty rates section of the website of the Queensland Government Treasury Department.

Marc Bishop Lafleche, Chief Executive Officer of the Company, commented:

“The proposed increase to the Queensland royalty regime has the potential, based on current consensus metallurgical coal price forecasts for H2 22 of approx. US$380/t (A$545/t), to increase our revenue from the Kestrel royalty during the same period by approximately 75%.
This should significantly accelerate our ability to recycle capital towards funding accretive acquisitions that further enhance our exposure to future facing commodities.”
weitere Details

saludos

saludos

Altius Provides 2^nd Quarter 2022 Project Generation Update
https://www.businesswire.com/news/home/20220705005856/en/
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) is pleased to update its Project Generation (“PG”) business activities and its public junior equities portfolio. The market value of equities in the portfolio at June 30, 2022 was $47.4 million, compared to $67.3 million at March 31, 2021. New investments for the quarter exceeded equity sales for a net cost of $1.2 million. The decline in portfolio value is line with the broader declines experienced across the junior mining equity sector.
An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities.
Portfolio and Project Highlights
Orogen Royalties Inc. (OGN:TSX-V) (“Orogen”) reported its first full quarter of royalty revenue from its Ermitaño project and anticipates generating approximately $500,000 per quarter - https://www.orogenroyalties.com/news/orogen-royalties-announces-first-quarter-2022-results-and-provides-royalty-update. The recent results underline the financial stability of the company while maximizing its shareholders’ participation in exciting new developments and advancements within its broader portfolio including its 1% NSR royalty on the Silicon project in Nevada, which is operated by AngloGold Ashanti (Altius also independently owns a 1.5% NSR royalty on the project). Altius retains an approximate 16.5% interest in the shares of Orogen.
Adventus Mining Corp. (ADZN:TSX-V) (“Adventus”) continued to make meaningful progress in Ecuador with its recent announcement of an Investment Protection Agreement for the Curipamba - El Domo copper-gold project with the Ministry of Production, Foreign Trade, Investments and Fisheries (https://www.adventusmining.com/news/122592). Altius retains a 2% NSR royalty on the Curipamba project.
Labrador Uranium Inc. (LUR:TSX-V) recently announced commencement of exploration on its uranium properties in Labrador including the Central Mineral Belt properties which Altius recently vended to the company for 8 million shares and an underlying 2% GOR royalty on the properties - https://labradoruranium.com/press-releases/labrador-uranium-announces-exploration-update/.
Sterling Metals Corp. (SAG:TSX-V) (“Sterling”) raised nearly $5 million in new exploration funding for advancement of its Sail Pond project in Newfoundland and reported plans for its 2022 exploration season. This includes 7,500 metres of drilling on the Heimdall Zone discovery and other targets along a 12-kilometre prospective trend it has defined by surface geochemistry, trenching, and prospecting - https://sterlingmetals.ca/june-9-2022/. Altius owns 6,505,186 shares in Sterling and retains a 2% NSR royalty on the Sail Pond project.
Surge Copper Corp. (SURG:TSX-V) (“Surge”) announced a significant increase in certain resources at its Ootsa Cu-Au porphyry project in British Columbia - https://surgecopper.com/news-releases/surge-copper-announces-96-increase-in-ootsa-measured-indicated-resources-to-439-mt-grading-0.32-cueq/. The Company also recently commenced a 22,000-metre regional exploration program focusing on testing of a number of high-priority exploration targets across the Ootsa-Berg district. Altius is a minority shareholder of Surge.
During the quarter Altius invested approximately $550,000 as part of a larger $4 million financing in Lara Exploration (LRA:TSX-V), a project generation company focused in Brazil and holding two meaningful copper projects. Lara announced positive drilling results from the Planalto project in late May (https://www.laraexploration.com/news/2022/lara-intercepts-94.22-metres-at-1.04-copper-at-the-planalto-project-in-brazil/).

Anglo Pacific kauft Kupfer-Nickel-Royalties-Portfolio von South32 für bis zu $200 Millionen
Der Betrag wird teils in cash und in Aktien bezahlt, damit hält South32 dann 16,9% an Anglo Pacific.

Zitat

The acquired royalty portfolio includes:

• A 2.0% net smelter return (“NSR”) royalty on the West Musgrave copper and nickel project in Australia. Average annual production is expected to be 26,000 tonnes of nickel and 32,000 tonnes of copper with first production targeted as early as 2024. Portfolio contribution at steady state production is expected to be US$10-15 million (based on long-term consensus pricing).
• A 2.0% NSR royalty on the Santo Domingo, fully permitted, copper project in Chile. Average annual life of mine production is expected to be approximately 140 million pounds of copper, 4.2 million tonnes of 65% pellet feed iron ore concentrate and 10.4 million pounds of cobalt. The Company’s royalty area covers the highest copper grade portion of the mine plan which is expected to be mined during the initial 6 to 7 years of production. Capstone Copper is currently guiding to initial production between 2024 and 2026. Portfolio contribution at steady state production is expected to be US$20-35 million (based on long-term consensus pricing).
• A 1.5% realised value royalty on the Nifty copper mine in Western Australia, owned by Cyprium Metals Limited (“Cyprium”). This is a restart of an existing mine and production is targeted to recommence in H2 2023. Portfolio contribution at steady state production is expected to be US$1-3 million (based on long-term consensus pricing).
• A 5.0% NSR royalty on the producing Carlota copper mine in Arizona, owned by KGHM Polska Miedź S.A. (“KGHM”). Production in 2021 was 5.5 kt of copper cathode and final production is expected in 2024.

Alle Details zu dieser Transaktion (PDF).

saludos

saludos

Valuing Royalty Companies - Anglo Pacific Group (latinmines.com)

Erschienen bei latinmines.com von Joel Schopp.

Mit der Änderung des Queensland Coal Royalty-Programms dachte ich, es wäre einen Versuch wert, der Anglo Pacific Group einen Wert beizumessen.

Überblick
Basierend auf einem Schlusskurs von 152,00 $APF. L hat eine Marktkapitalisierung von 337,77 Mio. USD GPB. Fügen Sie Schulden hinzu und es hat einen Unternehmenswert von $ 411.88m GBP, was $ 505m USD geben oder nehmen. Ich bezifferte den beizulegenden Zeitwert ihrer Vermögenswerte auf 596,6 Mio. USD. Etwa 80 Millionen US-Dollar davon sind die Inrease ihrer Lizenzgebühren aus den jüngsten Änderungen von Queensland an Kestral. Das ist ein Anstieg von 15% in meinem Esitmate ihres Vermögenswertes und der Markt gab ihnen nur einen Anstieg des Aktienkurses um 5%. Im Verhältnis zu ihrem Vermögen scheinen sie für mich fair bewertet zu sein, aber attraktiver als vor einer Woche.
Subjektiv scheinen sie sehr solide Vermögenswerte zu haben, aber ich sehe nicht so viel Upside-Optionalität, wie ich es gerne hätte. Der Markt mag den Cashflow und die zweite Jahreshälfte 2022 wird wahrscheinlich viel Cashflow liefern, insbesondere von Kestral, so dass es sich um einen intelligenten 6-9-Monats-Trade handeln könnte. Aber wenn Sie anfangen, in 2023 und 2024 zu schauen, könnte der Markt die Cashflow-Rückgänge nicht aufwerten.

DCFs und Lizenzgebühren vor der Produktion

Es ist interessant zu sehen, wie die Buchhalter von Anglo Vorproduktionsanlagen wie Piauí und Dugbe 1 bewerten, wo sie eine Wahrscheinlichkeit der kommerziellen Produktion und einen Abzinsungssatz anwenden und eine Discounted-Cashflow-Analyse (DCF) durchführen.

Schauen wir uns Dugbe 1 an. Sie nutzen eine Chance auf eine kommerzielle Produktion von 25% (gegenüber 75% im Jahr 2020), ein Startdatum der kommerziellen Produktion von 2030 (unverändert gegenüber 2020), einen Diskontsatz von 21,5% (verbessert von 30% im Jahr 2020).

Sagen wir einfach, dass die Wahrscheinlichkeit, dass Buchhaltungs-Shennagins im Gange sind, größer als Null ist. Wenn Ihre Chance auf eine kommerzielle Produktion so dramatisch gesunken ist, warum wurde Ihr Diskontsatz besser? Liegt es daran, dass die beiden grob kompensieren, so dass Sie keine große Änderung des Rechnungslegungswerts vornehmen müssen?

Aber nehmen wir an, das sind ehrliche Einschätzungen. Wenn wir 4 Projekte wie dieses hätten, würden wir erwarten, dass in den nächsten 8 Jahren 3 von ihnen ihre Chance auf kommerzielle Produktion auf 0% und eines von ihnen ihre Chance auf kommerzielle Produktion auf 100% haben würde. Das ist es, was eine 25% ige Chance der kommerziellen Produktion für 4 Projekte bedeutet. In diesen 8 Jahren hätte das eine Projekt 474% gegenüber dem Diskontsatz (1,215 ^ geschätzt und wäre um 400% gegenüber der Erfolgswahrscheinlichkeit gestiegen (100% / 25%). Zusammen ist das ein Gewinn von 1899% (474,9% * 400%). Wir können 300% für die drei gescheiterten subtrahieren, also netto 1699% Gewinn. Das ist etwa eine annualisierte Rendite von 42 %. Das setzt auch voraus, dass die Minen einfach von ihrem Minenplan ablaufen, ohne weitere Unzen aus niedrigeren Kategorien umzuwandeln oder weitere Unzen zu entdecken. Wie wir immer wieder gesehen haben, werden Minen in der Produktion zumindest einen Teil dessen, was sie durch Exploration abbauen, ersetzen.
Wenn wir wirklich glauben, dass unsere Chance auf kommerzielle Produktion richtig ist, sollten wir das Projekt nicht mit einem höheren Abzinsungssatz doppelt bestrafen, weil wir es bereits mit der Chance auf kommerziellen Erfolg bestraft haben. Was passiert also, wenn wir einen Abzinsungssatz von 8% anstelle des Abzinsungssatzes von 21,5% verwenden? Nun, es sind 8 Jahre bis zum Produktionsbeginn, und die Lebensdauer der Mine von 14 Jahren ergibt eine durchschnittliche gewichtete Zeit ab Produktionsbeginn von 7 Jahren.
(.92^(8+7))÷(.785^(8+7)) = 1080%

Der Barwert von 1,4 Mio. US-Dollar würde also tatsächlich 15 Mio. US-Dollar betragen.

Ich sage nicht, dass wir alle Bewertungen aller Lizenzgebühren von Anglo Pacific vor der Produktion 10x machen sollten. Ich sage, DCFs sind nur so gut wie ihre Eingaben und es ist ziemlich einfach, sie für Dinge weit in der Zukunft mit hoher Unsicherheit zu spielen. Kleine Änderungen der Cashflows aus Studien, Diskontsätzen, Zeitplänen oder Chancen auf eine kommerzielle Produktion haben enorme Auswirkungen auf den Wert.

Vermögen

ProjektWert

2022Q1 hatten sie einen Umsatz von 33,5 Mio. USD bei 482 USD / t. Also 69.502 Tonnen zu ihnen. Bei der aktuellen Lizenzgebühr von 13,63% bedeutet dies, dass die Produktion auf ihrem Lizenzgebührengebiet 509919 Tonnen betrug.

Sie erwarten einen Rückgang der Volumina um 50% im Jahr 2023 gegenüber 2022.

Ich ging weiter und projizierte die Forward-Meet-Kohle-Futures-Kurve mit 85% realisiertem Preis und einem Rückgang der Produktion um 20% in den Jahren 2024, 2025 und 2026 und keiner Produktion danach. Bei Verwendung eines Diskontsatzes von 8% ergibt sich ein NPV8 von 203 Mio. USD. Ist das richtig, auf keinen Fall. Wer weiß, wie hoch die Produktionsraten oder der realisierte Preis sein werden. Aber das ist eine so gute Vermutung wie jede andere.

Anglo Pacific Group PLC Announces West Musgrave Final Investment Decision

https://www.accesswire.com/717…Final-Investment-Decision

LONDON, UK / ACCESSWIRE / September 23, 2022 / Anglo Pacific Group PLC (the "Group" or "Anglo Pacific") (LSE:APF)(TSX:APY) notes the press release issued by OZ Minerals earlier today (https://bit.ly/3R72uKo) announcing that it has made a Final Investment Decision on the West Musgrave copper-nickel project in Australia. Anglo Pacific has a 2.0% net smelter royalty interest over the West Musgrave project.

The highlights of the announcement were:

• First production targeted for H2 2025
• Processing capacity increased from 12.0 Mtpa to 13.5 Mtpa through mine planning and plant optimisation
• Average annual production ~35,000 tpa nickel, ~41,000 tpa copper in the first five years. Average annual production ~28,000 tpa nickel and ~35,000 tpa copper over a 24-year operating life¹
• Bottom quartile C1 cost of ~ US$0.50/lb (Ni payable net of by-product credit) and ~US$(1.10)/lb (Cu payable net of by-product credit)
• One of the largest fully off-grid, hybrid renewable powered mines in the world with an initial ~80% renewable power contribution²

https://www.anglopacificgroup.…-2022-Results-Final-1.pdf

Carbon Streaming Corp.

Anglo Pacific Group (APF) benennt sich in Ecora Resources (ECOR) um.
Hätte man sich meiner Meinung nach sparen können.

5 October 2022: Change of name to Ecora Resources

saludos

Zitat von Real de Catorce

Anglo Pacific Group (APF) benennt sich in Ecora Resources (ECOR) um.
Hätte man sich meiner Meinung nach sparen können.

5 October 2022: Change of name to Ecora Resources

saludos

The Company's Tradable Instrument Display Mnemonic (TIDM) code will change to "ECOR" on both the London and Toronto Stock Exchanges, from "APF" (London) and "APY" (Toronto). The Company's shares will trade under the new name and TIDM on the London Stock Exchange from 8.00am tomorrow, Thursday 6 October 2022, and on the Toronto Stock Exchange from 9.30am ET on 6 October 2022.

https://www.ecora-resources.co…ources_-_October_2022.pdf

RE Royalties Declares 2022 Third Quarter Shareholders Dividend Payment

https://www.accesswire.com/720…eholders-Dividend-Payment
VANCOUVER BC / ACCESSWIRE / October 18, 2022 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company") is pleased to announce that the Board of Directors of the Company has declared a cash distribution of $0.01 per issued and outstanding common share for the quarter ending September 30, 2022.
The distribution is payable on November 23, 2022, to shareholders of record on November 2, 2022. The distribution is designated by the Company to be a dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. The cumulative amount of dividends declared for the 2022 fiscal year has been $0.03 per common share.
Bernard Tan, CEO of the Company, commented, "Demand for our unique financing solutions continues to be strong and we are pleased to provide our shareholders with another dividend. The Company has a robust pipeline of potential renewable energy royalty financing opportunities and is in advanced discussions on several projects to provide our investors with a strong growing yield."

Interessant:

Lion Long Term Partners LP, a Significant Shareholder of Texas Pacific and Land Corporation, Urges Shareholders to Vote Against Proposal 4 at Upcoming Annual Meeting

https://seekingalpha.com/pr/18…ific-and-land-corporation
Proposal 4 asks shareholders “To approve an amendment to the Company’s Certificate of Incorporation increasing the authorized shares of common stock from 7,756,156 shares to 46,536,936 shares.”

Item 4 is not “routine business”. Its adoption would allow the Board and current management to dramatically change TPL’s business strategy, in effect for over 100 years, of collecting royalty rights, selling land assets, and using the proceeds to repurchase outstanding shares, thus enhancing stockholder value. The stockholders are not being asked to approve this change in TPL’s business strategy.

The Company says that the newly authorized shares will be used, in large part:

• for a 3 for 1 stock split (for which the increase would only need to be from 7,756,156 shares to 23,268,468), and

to enable the company to make strategic acquisitions using stock as consideration

If item 4 is approved, management and the current Board will have twenty-three million shares, each one worth today $668 (post split) at their disposal to spend on buying up assets, subject only to stockholder approval if, under NYSE rules, a future share issuance exceeds 20% of the shares outstanding. This is far from being business as usual. It’s scary. The advantages of a stock split are minimal in comparison with the dangers of allowing management and the current Board to dramatically change the business strategy of TPL without effective stockholder input.

For 134 years TPL has collected rights, royalties and sold land, the cash proceeds used to re-purchase shares. From 1992 to 2017 the Company retired on average 3% of the shares outstanding per year reducing the total share count by approximately 53%, whilst acreage owned declined by about 1% per year.

RE Royalties Enters into USD $3.9 Million Loan and Royalty Agreement with Delta Energy Partners for Energy-as-a-Service Projects in Puerto Rico

https://www.accesswire.com/723…e-Projects-in-Puerto-Rico
VANCOUVER, BC / ACCESSWIRE / November 1, 2022 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty-based financing, has entered into a loan and royalty agreement with Delta Energy Partners ("Delta"), a provider of Energy-as-a-Service ("EaaS") solutions to customers in Puerto Rico for USD $3.9 million (the "Loan").
The Loan will finance the procurement and installation of energy efficiency and building energy equipment that will be paid for by Delta's clients, consisting of government entities and large commercial companies, over an average 10-year contracted period. The Loan will be drawn in tranches with a term of 5 years at a 12.15% interest rate per annum, plus a 2% commitment fee on undrawn amounts. The Company will also receive a 10-year royalty of 4% on invested capital (the "Royalty") commencing the 30^th month after closing.

TPZ, die seit einigen Wochen Depotwert sind, meldeten gestern Quartalszahlen.

Der freie Cashflow sank auf $77 Mio (Vorquartal: $94,1 Mio), hauptsächlich aufgrund um 43% gefallener Erdgaspreise. Die Produktionsmenge sowie Einnahmen aus dem Midstream blieben konstant.

Die Dividende wird auf $0,30 erhöht; dies wurde bereits nach den letzten Akquisitionen angekündigt. Damit beträgt die Auszahlungsquote 46%. Die relativ stabilen Einnahmen aus dem Midstream von $16,2 Mio decken bereits 40% der Dividende ab.

Im abgelaufenen Quartal wurden $328.3 Mio in neue Projekte investiert; dies wird zum Jahresende eine Schuldenquote von 1.1x ergeben. Diese soll bis Ende 2023 auf 0,8x verringert werden; danach soll die Dividende in den Bereich einer Auszahlungsquote von 60-90% angehoben werden.

Das Management wirkt auf mich hoch motiviert und professionell. Der Ansatz, das aggressive Wachstum über Kredit und nicht über Verwässerung zu finanzieren ist zu begrüßen, da es bestehende Aktionäre nicht benachteiligt. Die Priorisierung von Schuldenreduktionen über Dividendenzahlungen ergibt ebenfalls Sinn, zumal die Dividendenrendite bereits bei ca. 5% liegt.
Abzuwarten bleibt, inwiefern sich die starke Volatilität bei den Erdgaspreisen auf den FCF und damit die Kursentwicklung auswirkt.

LABRADOR IRON ORE ROYALTY CORPORATION - RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2022

https://www.newswire.ca/news-r…er-30-2022-815198199.html

Financial Performance
In the third quarter of 2022, LIORC's financial results were negatively affected by lower iron ore prices, partially offset by higher pellet premiums and higher volumes of concentrate for sale ("CFS") sales. Royalty revenue for the third quarter of 2022 amounted to $63.5 million compared to $74.2 million for the third quarter of 2021. Equity earnings from Iron Ore Company of Canada ("IOC") were $46.8 million in the third quarter of 2022 compared to $60.5 million in the third quarter of 2021. Net income per share for the third quarter of 2022 was $1.24 per share, which was a 24% decrease over the same period in 2021. The adjusted cash flow per share for the third quarter of 2022 was $1.09 per share, which was 45% lower than in the same period in 2021, as a result of lower royalty revenues and because LIORC received a dividend from IOC in the amount of $34.2 million from IOC in the third quarter of 2022, compared to a dividend from IOC in the amount of $85.8 million in the third quarter of 2021...

Uranium Royalty Corp. to Acquire U.S. Uranium Royalty Portfolio from Anfield Energy Inc.

https://www.prnewswire.com/new…energy-inc-301681204.html
VANCOUVER, BC, Nov. 17, 2022 /PRNewswire/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSXV: URC) ("URC" or the "Company") is pleased to announce that its wholly-owned subsidiary has entered into an agreement with Anfield Energy Inc. ("Anfield") to acquire a portfolio of royalties on U.S. projects, comprised of:

• U.S. Conventional Mining Royalty Portfolio:
  
  
  • a 2% gross value royalty on portions of the San Rafael Project, located in Utah, USA and operated by Western Uranium & Vanadium Corp.("Western");
  • a 2 – 4% sliding scale gross value royalty on portions of the Whirlwind Project, located in Colorado and Utah, USA and operated by Energy Fuels Inc. ("Energy Fuels"); and
  • a 1% gross value royalty (applicable to uranium and vanadium sales) on portions of the Energy Queen project, located in Utah, USA and operated by Energy Fuels.
• U.S. In-Situ Recovery (ISR) Royalty:
  
  
  • a 2 – 4% sliding scale royalty on portions of the Dewey Burdock Project located in South Dakota, USA and operated by enCore Energy Corp. ("enCore")

The consideration payable to Anfield at closing is US$1.5 million in cash. The closing of the transaction is subject to customary conditions, including the approval of the TSX Venture Exchange.

NOVA ROYALTY REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPT 30, 2022 AND PROVIDES ASSET UPDATE
@newswire/nova-royalty-reports-financial-results-for-the-three-f19a2

SOURCE ROCK ROYALTIES CLOSES S.E. SASKATCHEWAN LIGHT OIL ROYALTY ACQUISITION WITH DRILL COMMITMENT

https://www.newswire.ca/news-r…commitment-813317794.html
CALGARY, AB, Nov. 28, 2022 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties in Saskatchewan and Alberta, announces that it has closed the acquisition of a 2% gross overriding royalty (the "GORR") in approximately 6,400 net acres (10 sections) of land in S.E. Saskatchewan (the "GORR Lands"). The purchase price was $3.5 million and the transaction has an effective date of October 1, 2022.
The GORR Lands are operated by Anova Resources Inc. ("Anova"), and Elevation Oil & Gas Limited ("Elevation") is partnered with Anova on the GORR Lands. Source Rock has completed several royalty deals with Anova since January 2019. Over this time, Anova has successfully drilled numerous horizontal wells on Source Rock's royalty lands and has become one of Source Rock's largest royalty payors. Gross production from the GORR Lands averaged approximately 500 bbl/d of Frobisher light oil in October 2022. In addition, 8 horizontal wells were recently drilled on the GORR Lands, and 4 of these wells began producing over the last two weeks. It is anticipated that the remaining recently drilled horizontal wells will begin producing prior to year-end.

Uranium Royalty Corp. Elects to Receive Physical Uranium from McArthur River and Acquires Dawn Lake Royalty
https://www.prnewswire.com/new…ke-royalty-301688478.html
VANCOUVER, BC, Nov. 29, 2022 /PRNewswire/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSXV: URC) ("URC" or the "Company") is pleased to announce that it has notified Orano Canada Inc. ("Orano") of URC's election to receive royalty proceeds from the recently re-started world-class McArthur River mine through delivery of physical uranium. URC's royalty interest applies to Orano's 30.195% ownership interest in the McArthur River Project which is operated by Cameco. Cameco currently plans to produce 15 million pounds of U₃O₈ (100% basis) per year from the operations starting in 2024.
URC further announces that it has completed the indirect acquisition of an existing royalty on the Dawn Lake project, located in the Athabasca Basin uranium district in Saskatchewan, Canada.
Release Highlights:

• URC applauds the re-start of the McArthur River mine. Cameco Corporation ("Cameco") has disclosed that the world's largest, high-grade mine is planning to produce 15 million pounds U₃O₈ (100% basis) per year starting in 2024.
  

  
  

• By electing to receive the royalty proceeds as physical uranium, it allows URC to control the sale of the attributed pounds in a disciplined, yet fully unhedged manner, focusing on providing the maximum value to shareholders.
  

  
  

• URC has acquired a sliding scale 10% to 20% NPI on a 7.5% share of overall uranium production from the Dawn Lake project lands. This royalty was previously subject to an option held by the Company. The royalty was acquired through the Company's acquisition of Reserve Minerals, LLC, the holder of the royalty, in consideration for US$100,000.

Zitat von Sorgenfrei

SOURCE ROCK ROYALTIES CLOSES S.E. SASKATCHEWAN LIGHT OIL ROYALTY ACQUISITION WITH DRILL COMMITMENT

https://www.newswire.ca/news-r…commitment-813317794.html
CALGARY, AB, Nov. 28, 2022 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties in Saskatchewan and Alberta, announces that it has closed the acquisition of a 2% gross overriding royalty (the "GORR") in approximately 6,400 net acres (10 sections) of land in S.E. Saskatchewan (the "GORR Lands"). The purchase price was $3.5 million and the transaction has an effective date of October 1, 2022.
The GORR Lands are operated by Anova Resources Inc. ("Anova"), and Elevation Oil & Gas Limited ("Elevation") is partnered with Anova on the GORR Lands. Source Rock has completed several royalty deals with Anova since January 2019. Over this time, Anova has successfully drilled numerous horizontal wells on Source Rock's royalty lands and has become one of Source Rock's largest royalty payors. Gross production from the GORR Lands averaged approximately 500 bbl/d of Frobisher light oil in October 2022. In addition, 8 horizontal wells were recently drilled on the GORR Lands, and 4 of these wells began producing over the last two weeks. It is anticipated that the remaining recently drilled horizontal wells will begin producing prior to year-end.

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SOURCE ROCK ROYALTIES ANNOUNCES THIRD QUARTER 2022 FINANCIAL RESULTS

https://www.newswire.ca/news-r…al-results-814805705.html

Third Quarter Highlights:

• Quarterly royalty revenue of $1,554,910, an increase of 34% compared to Q3 2021.
• Quarterly Adjusted EBITDA¹ of $1,219,346 ($0.027 per share), an increase of 21% compared to Q3 2021.
• Quarterly funds from operations¹ of $1,115,225 ($0.025 per share), an increase of 11% compared to Q3 2021.
• Quarterly royalty production averaged 160 boe/d (92% oil and NGLs), a decrease of 6% compared to Q3 2021.
• Paid a quarterly dividend of $0.015 per share, resulting in a payout ratio¹ of 60%.
• Achieved an operating netback¹ of $82.84 per boe and a corporate netback¹ of $75.76 per boe.
• Ended Q3 2022 with a cash balance of $16,283,684 ($0.36 per share), an increase of 5% from June 30, 2022.