Elemental Royalty Boosts Chapi Copper Exposure With $25 Million Quilla Investment
MT Newswires Live
Jul 16
Elemental Royalty (ELE) entered into a $25 million investment package with Quilla Resources and its subsidiary Minera Pampa de Cobre to expand royalty exposure to the producing Chapi copper project in Peru, the company said Wednesday.
The transaction includes an additional perpetual, uncapped 1% net smelter return royalty over the Pampa Negra and Candelaria concessions, increasing Elemental's total royalty interest to 3%.
Elemental also subscribed for shares representing about 9% of Quilla, which plans to triple annual output to 30,000 tons of copper cathode and pursue a public listing.
Elemental shares rose 4.9% in after-hours trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.