Battery Mineral Resources Announces Receipt of Second Payment and Closing of Previously Announced Royalty Financing with Electric Royalties
Rhea-AI Summary
Battery Mineral Resources (BTRMF) has received the final C$450,000 payment, completing the previously announced royalty sale to Electric Royalties. The transaction involves granting a 0.75% Gross Revenue Royalty on the Punitaqui copper mine in Chile for total cash consideration of C$3,500,000.
The company's CEO, Martin Kostuik, expressed optimism about 2025 being their first full year of mine and mill production at Punitaqui. He highlighted the company's strong team, assets, supportive shareholders, well-defined resource base, and favorable copper market outlook as contributing factors to positive expectations for 2025 and beyond.
Positive
- Received final payment of C$450,000 completing C$3.5M royalty financing
- 2025 marks first full year of mine and mill production at Punitaqui
- Successfully secured non-dilutive funding through royalty sale
Negative
- Sold 0.75% of future gross revenue from Punitaqui mine operations
News Market Reaction – BTRMF
In the trading session that priced this news, BTRMF gained 2.53%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2025) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce that the Company has received the final C
Martin Kostuik, Chief Executive Officer, stated, "BMR is very pleased and encouraged to work with Electric Royalties and would like to thank both teams for closing this very important and favorable source of funding. We look forward to updating our stakeholders as we begin 2025 as our first full year of mine and mill production at Punitaqui in Chile. Our strong team, excellent assets, supportive shareholders, very well defined resource base and a favorable outlook for the copper markets all contribute to an excellent outlook for 2025 and beyond."
About Battery Mineral Resources Corp.
Battery Mineral Resources' mission is to build a mid-tier copper producer and has recently initiated mine and mill operations at the Punitaqui Mining Complex, a historic copper-gold-silver producer, in the Coquimbo region of Chile. The Company's portfolio also consists of two cobalt assets and one lithium asset located in North America and two graphite assets in South Korea. The Company is focused on providing shareholders accretive exposure to copper and the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favorable mining jurisdictions.
For more information about Battery Minerals, please visit our website at, https://bmrcorp.com or email us at info@bmrcorp.com.
For more information, please contact:
Martin Kostuik, CEO
Phone: +1 (604) 628-1110
Twitter: @BMRcorp_
Facebook: Battery Mineral Resources Corp. | Facebook
LinkedIn: Battery Mineral Resources Corp.: My Company | LinkedIn
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements
This news release includes certain "forward-looking statements" under applicable securities laws, including without limitation statements regarding anticipated production timing and capacity and statements regarding the anticipated use of proceeds of the Transaction. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development and production schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. BMR undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law. For further information regarding the risks please refer to the risk factors discussed in BMR's most recent Management Discussion and Analysis filed on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237702