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Element 25 at new 12-month high after completing $A500,000 royalty sale agreement

Proceeds from the eventual sale of the Silverstream shares will be used to continue the development of the world-class Butcherbird Manganese Project.

Element 25 Ltd - Element 25 completes royalty sale agreement with Vox Royalty Corp for A$500,000
Vox Royalty Corp is a growth and precious metals focused mining royalty and streaming company

Element 25 Ltd (ASX:E25) has hit a new 12-month high after completing a royalty sale agreement with Canada's Vox Royalty Corp (CVE:VOX) for a total consideration of A$500,000.

Completion of the agreement has seen E25 151,700 VOX shares at a deemed value of C$3 per share.

E25 shares have been as much as 13% higher to a new 12-month high of 45 cents, which is also the highest for the company since November 2011.

Proceeds for Butcherbird development

Proceeds from the eventual sale of the Silverstream shares will be used to continue the development of the world-class Butcherbird Project near Newman in Western Australia.

The royalties included in the sale agreement are the Green Dam, Holleton and Yamarna gold royalties as well as the Yalbra graphite royalty.

“Pleased” with completion

Managing director Justin Brown said: “E25 is very pleased with the completion of this transaction which adds important additional capital to the balance sheet and will contribute to funding the development of the Butcherbird Manganese Project, the company’s flagship asset.”

Vox Royalty Corp is a growth and precious metals focused mining royalty and streaming company that holds a portfolio of 36 royalties and streaming assets and one royalty option.

Vox’s interests span seven jurisdictions, including Australia, Canada, Peru, Brazil, Mexico, the United States and Madagascar.

The company has been the fastest-growing royalty and streaming acquisition company since January-2019, announcing 12 separate royalty transactions.

Butcherbird PFS

E25 recently completed a pre-feasibility study for the Butcherbird project, which contemplates the export and sale of manganese concentrate over a long mine life and delivers outstanding economic metrics - further confirming the potential for the project to be Australia’s next significant manganese mine.

E25 has also revealed a maiden proved and probable ore reserve of 50.55 million tonnes at 10.3% manganese, containing 5.22 million tonnes of manganese.

Sale of RareX holding

The company also sold 12,537,965 RareX Ltd (ASX:REE) shares in May for a total of $462,780 after brokerage costs.

Quick facts: Element 25 Ltd

Price: 0.43 AUD

ASX:E25
Market: ASX
Market Cap: $42.3 m
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Element 25 'well funded' as it progresses PFS on Butcherbird manganese project

Element 25 Ltd's (ASX:E25) Justin Brown sits down with Proactive's Andrew Scott while at Mines and Money in London 2019. The company's flagship asset is the Butcherbird manganese deposit, which has been described as Australia’s largest onshore manganese resource. ''The PFS is around 90%...

on 27/11/19

2 min read