VANCOUVER, BC, June 3, 2021 /CNW/ - Elemental Royalties Corp.
("Elemental" or "the Company") (TSXV: ELE) (OTCQX:
ELEMF) is pleased to note the announcement by Capricorn Metals
Limited ("Capricorn") (ASX: CMM) that commissioning has
commenced at its Karlawinda Gold Project in Western Australia where Elemental holds a 2%
NSR royalty.
Frederick Bell, CEO of
Elemental commented, "Karlawinda is the Company's largest
royalty and the announcement of commissioning on time and budget
underscores the quality of Capricorn's management team. Karlawinda
is forecast to almost double Elemental's royalty revenue and with
an initial ten-year mine life will be a cornerstone, high-quality
asset moving forwards.
Elemental currently has the strongest organic growth profile
in the Company's history with the Mercedes mine due to commence
royalty payments in July 2022 and
with major exploration announced across our portfolio of operating
assets."
Highlights
- Commissioning phase at Karlawinda commenced following
installation of the ball mill, construction of the Tailings Storage
Facility, 18MW gas fired power station electrification, and process
water borefield operational
- Current plan is to commence crushing and milling activities
(full wet commissioning) in the middle of June 2021 with a long-term production range of
110,000 – 125,000 ounces per annum for an initial ten-year mine
life
- Over 250,000 tonnes of ore on the ROM pad in readiness for
processing and over 4 million tonnes of grade control drilling has
been completed
- Full operational workforce recruited, with most already
mobilised to site
- Total overall capital cost remains within Capricorn's guidance
range of A$165-170 million
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and
Director
TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619L1076
About Elemental Royalties
Elemental is a gold-focused royalty company listed on the TSX-V
in Canada and provides investors
with lower risk precious metals exposure through a portfolio of
nine high-quality royalties. This enables investors to
benefit from ongoing royalty revenue, future exploration upside and
low operating costs. Elemental's experienced team seeks to secure
royalties in advanced precious metals projects, run by established
operators, from its pipeline of identified opportunities.
Qualified Person
Richard Evans, FAusIMM, is Senior
Vice President Technical for Elemental, and a qualified person
under National Instrument 43-101 – Standards of Disclosure for
Mineral Projects, has reviewed and approved the scientific and
technical disclosure contained in this press release.
Neither the TSX-V nor its Regulation Service Provider (as
that term is defined in the policies of the TSX-V.) accepts
responsibility for the adequacy or accuracy of this press
release.
Cautionary note regarding forward-looking statements
This release contains certain "forward looking statements" and
certain "forward-looking information" as defined under applicable
Canadian securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not
limited to, statements with respect to the future growth and
development of the Company. Forward-looking statements and
information are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions that, while believed
by management to be reasonable, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Forward-looking statements and information are
subject to various known and unknown risks and uncertainties, many
of which are beyond the ability of Elemental to control or predict,
that may cause Elemental's actual results, performance or
achievements to be materially different from those expressed or
implied thereby, and are developed based on assumptions about such
risks, uncertainties and other factors set out herein, including
but not limited to: the requirement for regulatory approvals and
third party consents, the impact of general business and economic
conditions, the absence of control over the mining operations from
which Elemental will receive royalties, including risks related to
international operations, government relations and environmental
regulation, the inherent risks involved in the exploration and
development of mineral properties; the uncertainties involved in
interpreting exploration data; the potential for delays in
exploration or development activities; the geology, grade and
continuity of mineral deposits; the impact of the COVID-19
pandemic; the possibility that future exploration, development or
mining results will not be consistent with Elemental's
expectations; accidents, equipment breakdowns, title matters, labor
disputes or other unanticipated difficulties or interruptions in
operations; fluctuating metal prices; unanticipated costs and
expenses; uncertainties relating to the availability and costs of
financing needed in the future; the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations; currency
fluctuations; regulatory restrictions, including environmental
regulatory restrictions; liability, competition, loss of key
employees and other related risks and uncertainties. Elemental
undertakes no obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed, and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
SOURCE Elemental Royalties Corp.