EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce the execution of an exploration and option agreement for its Yarrol, Mt Steadman and Queensland Gold projects to Mila Resources PLC ("Mila", LSE:MILA). Mila is a well-capitalized London Stock Exchange listed company seeking to broaden its exploration portfolio in Australia. The agreement provides EMX with a cash payment, warrants and work commitments during a one-year option period, and upon exercise of the option, EMX will receive additional cash payments, equity in Mila, advance royalty payments, milestone payments and a 2.5% NSR royalty.
Vancouver, British Columbia--(Newsfile Corp. - October 30, 2024) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or the "Company") notes the announcement by Capricorn Metals Ltd (ASX: CMM) ("Capricorn") of a material production expansion at the Karlawinda Gold Project ("Karlawinda") where Elemental Altus holds an uncapped 2.0% Net Smelter Return ("NSR") royalty. Capricorn are targeting annual gold production of 150,000 ounces, driven by an increase of total processing capacity to 6.5 Mtpa (Note 1). Karlawinda is a cornerstone asset for Elemental Altus, contributing US$4.6 million in zero-cost revenue in 2023.
Highlights
Frederick Bell, CEO of Elemental Altus, commented:
"We are excited to note Capricorn's Board approved a major A$120 million expansion at Karlawinda, increasing production to 150,000 ounces per annum over an initial 10-year mine life. Karlawinda is a cornerstone royalty for Elemental Altus, contributing US$4.6 million in revenue to the portfolio in 2023 and US$2.5 million in in H1 2024. The completion of the expansion study highlights the upside at the project with planned production increases complementing resource growth to-date. In addition, the production expansion is based on existing Reserves with the potential to both increase and convert the Resource down dip, providing Elemental Altus with ongoing upside.
Capricorn's management team have an excellent track record of mine builds and expansions across Australia and we look forward to following their progress."
September 30, 2024.
Third Quarter Highlights:
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