Electric Royalties Ltd. (TSE:ELEC) has released an update.
Electric Royalties Ltd. has finalized the acquisition of a significant lithium royalty and property portfolio in Ontario, Canada, marking a strategic expansion that doubles their overall royalty holdings. This move capitalizes on favorable lithium market conditions to secure 18 royalty agreements and 32 properties at a relatively low cost, with the potential for substantial growth as lithium prices are expected to rise. The acquired assets are located in a region with proven lithium reserves and are part of a broader strategy to enhance the company’s footprint in the battery minerals sector.
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