Nova Royalty Corp Strengthens Its Royalty Portfolio in ‘Transformational’ 2020
The company said it now holds royalties on several of the largest and most advanced copper and nickel deposits.
Nova Royalty Corp () (OTCMKTS: NVARF) announced that its royalty portfolio had grown from 5 to 18 in 2020 in what it called a “year of transformation” for the company.
“The company now holds royalties on several of the largest and most advanced copper and nickel deposits that will be critical to achieving global net zero emissions targets by 2050. With a rapidly diversifying portfolio, Nova has become a natural partner for royalty owners. on the world’s most important copper and nickel deposits, ”Alex Tsukernik, CEO of Nova Royalty, said in a statement.
“As we continue to grow, we look forward to offering an investment option to any investor wishing to participate in the global energy transition,” added Tsukernik.
Nova Royalty also provided an update on developments regarding some of its royalty assets.
At the Taca Taca copper-gold project in Argentina owned by (TSE: FM), in which Nova acquired 0.42% net smelter royalty (NSR), First Quantum filed an amended NI 43-101 technical report and released. updated on March 29, which showed an after-tax cash flow model showing an after-tax net present value (NPV) of US $ 2.4 billion and an internal rate of return (IRR) of 15.3 %.
Taca Taca has approximately 7.7 million tonnes of contained copper and First Quantum plans to make a construction decision on the project in 2023 or 2024.
In addition, at the Vizcachitas copper-molybdenum deposit in Chile owned by Los Andes Copper (), in which Nova acquired 0.98% NSR on surface production and 0.49% NSR on underground production from the San concession Jose 1/3000, unanimous approval was granted by the Regional Environment Committee for the start of drilling. Metallurgical tests were also completed at Vizcachitas on April 1, confirming a copper recovery of 91.4% and the production of a clean, high quality copper concentrate.
In addition, the first assay results are expected in May at the Janice Lake copper-silver project in Saskatchewan, being progressed by Rio Tinto, in which Nova Royalty owns 1.0% NSR. Drilling at Janice Lake could resume in June.
Nova Royalty aims to build a leading royalty company focused on copper and nickel – commodities it believes are critical to global society’s transition to clean energy from fossil fuels.
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