Electric Royalties Announces Drawdown Under Convertible Credit Facility
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Electric Royalties Ltd. has drawn down C$3,050,000 from its C$10,000,000 convertible credit facility to fund the acquisition of a 0.75% Gross Revenue Royalty on the Punitaqui copper mine in Chile.
November 27, 2024 | 1:00 am
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Electric Royalties Ltd. has drawn C$3,050,000 from its credit facility to fund a royalty acquisition on the Punitaqui copper mine, indicating strategic expansion in the mining sector.
The drawdown of funds from the credit facility to acquire a royalty on a producing mine suggests a strategic move to enhance revenue streams, which could positively impact the stock price in the short term.
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