Canadian miner Silver Elephant has announced it has entered into 2 percent royalty agreements under which the company now holds a 2 percent royalty over each of its key projects. Such royalties will be transferred into a newly incorporated wholly-owned offshoot named Battery Metals Royalties Corp.
“Silver Elephant and its subsidiaries shall place the Royalties, which pri-marily consists of 2% net smelter return royalty over the Company's Minago nickel project, 2% royalty over the Company's Gibellini vanadium project, and 2% net smelter return royalty over the Company's Pulacayo silver project, into Battery Metals Royalties,” the business said in a state-ment.
“In all but one case, the Royalties are payable to Battery Metals Royalties only when the price of the underlying metal in the mining project has been reached,” the miner said.
Silver Elephant says it specialises in the mining and exploration of silver, nickel, and vanadium.