Canada-based EMX Royalty has signed an option agreement with Bayrock Resources subsidiary Swedish Nickel to sell five battery metals projects in Sweden.

The assets considered for sale include the Kukasjarvi, Notträsk, Vuostok, Fiskelträsk, and Skogträsk projects.

Under the agreement, Swedish Nickel will have the option to acquire 100% interests in any or all of the projects through the issuance of cash or shares to EMX.

EMX will receive $45,577 (A$62,184) in cash, up to a 6% equity interest in Bayrock, 3% net smelter return (NSR) royalty and annual advance royalty payments.

The agreement will see Bayrock raising at least A$6m ($4.5m) within one year from the signing of the agreement, and issuing 5%-6% of Bayrock shares to EMX on a fully diluted basis.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In a press statement, EMX said: “The agreement with Swedish Nickel/Bayrock represents another example of EMX’s execution of the royalty generation aspect of its business model.”

The five projects are located in the Fennoscandian Shield, which is claimed to host several nickel deposits in Sweden, Finland and western Russia.

Each of the projects contains drill-defined zones of nickel-copper sulfide mineralisation developed in and around mafic to ultramafic intrusions, known as magmatic sulfide-style mineralisation.

EMX noted that the mineralisation zones are also variably enriched in cobalt and platinum-group-elements (PGE), key metals used in current battery technologies.

Occurrences and deposits of the projects were discovered in the 1970s and 1980s, with only limited and incomplete histories of follow-up exploration.